4488 La Canada
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4488 La Canada

Ctop 80%

Fallbrook, CA 92028

$975,000

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 →

Virtual Tour

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

Principal & Interest$5,417
Property Tax$975
Insurance$284
%($195,000)
%
Loan Term

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.

Investment Score

32C
Est. Monthly Rent
$4,592

16 leases of 3-bed houses in 92028 · $4,500–$4,896

Blended 50/50 with a property-level estimate

Monthly Cashflow

Rent − PITIA

-$2,084
Full Cashflow

Incl. vacancy, PM, maint, capex

-$3,952

What would make this work?

$3,952/mo short at 20% down; 79% down or +$5,133/mo rent closes it.

Break-even price

53% under asking

$460,408
Break-even rent

$5,133/mo above the estimate

$9,725/mo
Cashflow at 35% down
−$2,937/mo
Down payment to break even

$770,250 cash

79%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$5,417
Cap Rate
2.08%
Cash-on-Cash
-24.32%
DSCR

Need ≥ 1.25 for DSCR loan

0.69

NOI (Annual)
$20,327
Price-to-Rent

Lower = better for investors

17.7

* 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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CCashflow−$3,952/mo