4123 Oak Island
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4123 Oak Island

Btop 30%

Fallbrook, CA 92028

$499,000
STR: check · HOA rules unknown · TOT 8%

HOA rules unknown: an HOA can ban stays under 30 days (Civ. Code §4741), and no permit on file shows this one allows them. Get the CC&Rs.

Pass at asking: -$2,085/mo full cashflow at 20% down, 7.43% rate.

Works at $227,680 (54% under asking), or at 81% down.

Rent $3,051/mo from 4 leases of condos & townhomes in 92028, size-adjusted ($2,967–$3,251).

Beds

2

Baths

2

Sqft

1,308

Year Built

1980

Days on Market

127

Property Type

Condo

HOA/mo

$601

MLS ID

260016276SD

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

Virtual Tour

About This Property

Turnkey and move-in ready, this beautifully updated 2-bedroom, 2-bathroom condo in the highly sought-after Pala Mesa Villas golf community is the one you've been waiting for. From the moment you step inside, you'll appreciate the thoughtful upgrades, including a stunning kitchen featuring quartz countertops, stainless steel appliances, abundant cabinet and countertop space, engineered hardwood flooring, updated bathrooms, and newer heating and A/C units that add both style and comfort. The open pass-through from the kitchen to the dining area creates a bright, connected living space that's perfect for entertaining. The spacious living and dining room boasts soaring vaulted ceilings, a cozy fireplace, and direct access to a private deck overlooking the 2nd hole of the Pala Mesa Golf Course, an ideal spot to relax and take in the tranquil golf course views. The generous primary suite serves as a peaceful retreat with its own beautifully updated en-suite bathroom, while the second bedroom and updated full bath offer flexibility for guests, a home office, or additional living space. A rare 1.5-car garage provides space for a full-sized vehicle plus a golf cart, workshop, or extra storage. Residents enjoy resort-style amenities, including community pools and a spa, all just minutes from the Pala Mesa Golf Resort, Interstate 15, Highway 76, Temecula wine country, and San Diego's beautiful coastline. Experience the best of Fallbrook living—peaceful, scenic, and conveniently located. Don't miss this exceptional opportunity!

Mortgage Calculator

Est. Monthly Payment

$4,018

Principal & Interest$2,772
Property Tax$499
Insurance$146
HOA$601
%($99,800)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Live Oak Elementary · grades K-6 · Fallbrook Union Elementary

  • Middle

    James E. Potter Intermediate · grades 7-8 · Fallbrook Union 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

49B
Est. Monthly Rent
$3,051

4 leases of condos & townhomes in 92028, size-adjusted · $2,967–$3,251

Blended 50/50 with a property-level estimate

Monthly Cashflow

Rent − PITIA

-$967
Full Cashflow

Incl. vacancy, PM, maint, capex

-$2,085

What would make this work?

$2,085/mo short at 20% down; 81% down or +$2,707/mo rent closes it.

Break-even price

54% under asking

$227,680
Break-even rent

$2,707/mo above the estimate

$5,758/mo
Cashflow at 35% down
−$1,565/mo
Down payment to break even

$404,190 cash

81%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$2,772
Cap Rate
2.02%
Cash-on-Cash
-25.07%
DSCR

Need ≥ 1.25 for DSCR loan

0.76

NOI (Annual)
$10,080
Price-to-Rent

Lower = better for investors

13.6

* Modelled at 20% down, 7.43% 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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BCashflow−$2,085/mo