604 Porter Street
Btop 30%Fallbrook, CA 92028
Pass at asking: -$2,784/mo full cashflow at 20% down, 7.43% rate.
Works at $336,578 (52% under asking), or at 78% down.
Rent $3,357/mo from 8 leases of 3-bed houses within 2 mi ($3,034–$3,343).
Beds
3
Baths
2
Sqft
1,196
Year Built
1984
Days on Market
81
Property Type
Single Family
HOA/mo
N/A
MLS ID
NDP2607891
This property is in Fallbrook (92028). Browse neighborhood analytics →
About This Property
Great starter home located on quiet street with views. Large fenced backyard and an unfinished dirt basement area for storage or possible project. Move in condition.
Mortgage Calculator
Est. Monthly Payment
$4,786
Location
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Zoned Schools
Elementary
Fallbrook STEM Academy · 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.
Renovation math
Flagged Light Value-Add from the listing remarks — “unfinished”.
- Asking now
- $699K
- Worth finished
- $742K
- Budget to renovate
- $42,962
$584/sqft
$620/sqft × 1,196 sqft
$36/sqft to spend
Comparable finished homes nearby suggest this is worth $742K once it's brought to par — about $42,962 above the asking price. That spread is your renovation budget before the deal stops working.
Rent once renovated
- Rent at par
- $3,297/mo
- Cashflow at that rent
- −$2,830/mo
$2.76/sqft × 1,196 sqft, median of 5 comps
cap rate 2.09%, DSCR 0.69
Heads up: the rent estimate elsewhere on this page ($3,357/mo) is above what comparable finished homes here support. A home that needs work does not out-rent them, so treat $3,297/mo as the ceiling.
Buying at asking and achieving par rent, excluding the renovation spend itself. We don't publish a current-condition rent: no listing remark says how much work a home needs, and mid-renovation it earns nothing.
Based on 5 comparable homes of the same property type and size currently listed nearby — asking prices and modelled rents, not closed sales. A contractor's scope, not this page, decides what a renovation actually costs.
Comparable Properties
5 comps foundThis Property
$3,357
Comp Average
$3,218
1734 Adalane Place
3bd / 2ba · 1,346 sqft · Single Family
$695K
Est. $3,390/mo
1061 Old Stage Road
3bd / 2ba · 1,080 sqft · Single Family
$670K
Est. $3,136/mo
860 Magarian Rd
3bd / 2ba · 1,112 sqft · Single Family
$695K
Est. $3,073/mo
3252 Via Altamira
2bd / 2ba · 1,270 sqft · Single Family
$679K
Est. $3,185/mo
1340 Via Feliz
3bd / 2ba · 1,200 sqft · Single Family
$799K
Est. $3,308/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
8 leases of 3-bed houses within 2 mi · $3,034–$3,343
Blended 50/50 with a property-level estimate
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$2,784/mo short at 20% down; 78% down or +$3,615/mo rent closes it.
- Break-even price
- $336,578
- Break-even rent
- $6,972/mo
- Cashflow at 35% down
- −$2,056/mo
- Down payment to break even
- 78%
- Rate to break even
- Not reachable
52% under asking
$3,615/mo above the estimate
$545,220 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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