
4488 La Canada
Ctop 80%Fallbrook, CA 92028
Pass at asking: -$3,952/mo full cashflow at 20% down, 7.43% rate.
Works at $460,408 (53% under asking), or at 79% down.
Rent $4,592/mo from 16 leases of 3-bed houses in 92028 ($4,500–$4,896).
Beds
3
Baths
3
Sqft
2,680
Year Built
1974
Days on Market
54
Property Type
Single Family
HOA/mo
N/A
MLS ID
260022843SD
This property is in Fallbrook (92028). Browse neighborhood analytics →
About This Property
Set against a backdrop of beautiful views and abundant natural light, this home offers the rare combination of usable land, flexible living space, and inviting indoor-outdoor living on a generous fully fenced and gated 1.02-acre lot.Thoughtfully improved and substantially updated over the past several decades, this Fallbrook property reflects years of care, investment, and attention to both comfort and functionality. Significant improvements completed within the last 20 years—and especially in recent years—include kitchen and bathroom remodel, a mini-split HVAC system installed in 2025, a whole-house water filtration system added in 2024, owned solar panels installed in 2014, a re-roof completed in 2020, and attic cleaning with new insulation completed in 2026. These meaningful upgrades create an opportunity for buyers to enjoy the character and setting of an established property enhanced by important modern improvements. Stunning decks extend from the living room and primary bedroom, while an additional deck in the rear yard provides even more space to relax, entertain, and take in the surrounding scenery. A sunroom with beautiful views creates another light-filled retreat for enjoying the peaceful setting throughout the year. Inside, natural light and expansive views contribute to a warm, welcoming atmosphere. The kitchen is equipped with stainless steel appliances, while a large downstairs room with its own bathroom offers exciting flexibility and potential for an ADU, guest quarters, home office, or additional living space. Outdoors, numerous established fruit trees enhance the property's character, and the expansive, fully fenced and gated lot provides both privacy and versatility. With ample usable acreage, there is room to explore possibilities such as a horse or livestock pens, expanded gardens, or a suburban farm. An oversized three-car garage providing generous parking, workshop, and storage capacity. Located in Fallbrook, a charming small town with its own downtown area, the property offers a peaceful setting with convenient access to beaches, Highway 76, I-5, I-15, shopping, dining, and everyday conveniences. With more than 40 years of thoughtful improvements, substantial recent upgrades, beautiful views, usable acreage, flexible living space, fruit trees, and multiple places to enjoy the outdoors, this is a property that deserves to be experienced in person to fully appreciate everything it has to offer.
Mortgage Calculator
Est. Monthly Payment
$6,676
Location
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Zoned Schools
Elementary
La Paloma 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.
Comparable Properties
5 comps foundThis Property
$4,592
Comp Average
$4,522
1427 El Nido Drive
3bd / 3ba · 2,697 sqft · Single Family
$949K
Est. $4,560/mo
1883 Fox Bridge Court
3bd / 2.5ba · 2,721 sqft · Single Family
$840K
Est. $4,527/mo
1031 Inverlochy Drive
3bd / 2.5ba · 2,612 sqft · Single Family
$919K
Est. $4,462/mo
4994 San Jacinto Circle
3bd / 3.5ba · 2,616 sqft · Single Family
$999K
Est. $4,560/mo
3237 Canonita Drive
3bd / 2.5ba · 2,624 sqft · Single Family
$1.07M
Est. $4,501/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
16 leases of 3-bed houses in 92028 · $4,500–$4,896
Blended 50/50 with a property-level estimate
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$3,952/mo short at 20% down; 79% down or +$5,133/mo rent closes it.
- Break-even price
- $460,408
- Break-even rent
- $9,725/mo
- Cashflow at 35% down
- −$2,937/mo
- Down payment to break even
- 79%
- Rate to break even
- Not reachable
53% under asking
$5,133/mo above the estimate
$770,250 cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* 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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