38942 Jubilee Way

38942 Jubilee Way

Atop 10%

Fallbrook, CA 92028

$499,000

Pass at asking: -$1,454/mo full cashflow at 20% down, 7.36% rate.

Works at $308,827 (38% under asking), or at 63% down.

Rent $3,065/mo: zip market median for this bed count.

Beds

3

Baths

2

Sqft

1,175

Year Built

1976

Days on Market

210

Property Type

Manufactured

HOA/mo

N/A

MLS ID

SW26083112

This property is in Fallbrook (92028). Browse neighborhood analytics →

About This Property

Views! Views! Views! Located in the scenic hills of Fallbrook near Rainbow, this exceptional property offers a rare opportunity to own over 6 acres of usable Southern California countryside. With approximately 6.12 acres, this versatile parcel combines privacy, natural beauty, and incredible potential. Surrounded by rolling hills, mature trees, and picturesque mountain and valley views, the property provides a peaceful rural setting while still being within convenient reach of local shops, dining, and major roadways. Ideal for those seeking space, serenity, and flexibility. The existing 3-bedroom, 2-bath manufactured home features a deck and covered patio, offering a comfortable place to enjoy the surrounding landscape. Whether used as a primary residence, rental, or temporary living space while you build, it adds immediate value and functionality. The land is the true highlight, offering citrus trees and expansive flat, usable areas perfect for a custom estate, agricultural use, or multi-purpose living. Utilities are already in place, including electricity, water, private well, propane, and septic system--providing a strong foundation for future development. Enjoy open space, privacy, and the charm that makes Fallbrook one of North County's most desirable hidden gems. With increasing demand for land and lifestyle properties, opportunities like this are becoming increasingly rare. Don't miss your chance to create your vision and own a piece of Fallbrook's tranquil lifestyle.

Mortgage Calculator

Est. Monthly Payment

$3,398

Principal & Interest$2,753
Property Tax$499
Insurance$146
%($99,800)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Vallecitos Elementary · grades K-8 · Vallecitos Elementary

  • Middle

    Vallecitos Elementary · grades K-8 · Vallecitos Elementary

  • High

    Fallbrook High · grades 9-12 · Fallbrook Union High

The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.

Investment Score

70A
Est. Monthly Rent
$3,065

Zip market median for this bed count

Thin data: no closed leases like this one nearby.

Monthly Cashflow

Rent − PITIA

-$333
Full Cashflow

Incl. vacancy, PM, maint, capex

-$1,454

What would make this work?

$1,454/mo short at 20% down; 63% down or +$1,888/mo rent closes it.

Break-even price

38% under asking

$308,827
Break-even rent

$1,888/mo above the estimate

$4,953/mo
Cashflow at 35% down
−$938/mo
Down payment to break even

$314,370 cash

63%
Rate to break even

at 20% down

1.08%

Mortgage (P+I)
$2,753
Cap Rate
3.49%
Cash-on-Cash
-17.48%
DSCR

Need ≥ 1.25 for DSCR loan

0.90

NOI (Annual)
$17,430
Price-to-Rent

Lower = better for investors

13.6

* Modelled at 20% down, 7.36% rate, 30yr · vacancy 8% · PM 10% · capex 5% · maintenance 1%/yr.

Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.

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ACashflow−$1,454/mo