6750 Rainbow Heights Road

6750 Rainbow Heights Road

Ctop 80%

Fallbrook, CA 92028

$1,100,000

Pass at asking: -$4,581/mo full cashflow at 20% down, 7.36% rate.

Works at $500,555 (54% under asking), or at 81% down.

Rent $4,968/mo from 4 leases of 4-bed houses in 92028 ($4,441–$5,452).

Beds

4

Baths

2

Sqft

3,168

Year Built

1979

Days on Market

255

Property Type

Single Family

HOA/mo

N/A

MLS ID

OC26046121

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

About This Property

***BACK ON MARKET AFTER BUYER FAILED TO PERFORM!*** Perched atop more than 40 private acres, this extraordinary hilltop estate commands sweeping 360-degree views spanning North San Diego County, surrounding mountain ridgelines, and all the way to Catalina Island on clear days. Offering unmatched privacy, breathtaking sunsets, equestrian potential, and endless possibilities, this is a rare opportunity just south of Temecula Wine Country. Whether enjoyed as a secluded private retreat or further developed to capitalize on its desirable A70 zoning, the property's potential is nearly as expansive as its views. Tucked at the end of a private road with convenient access to Interstate 15, the setting feels worlds away while remaining just minutes from shopping, dining, and everyday amenities. Lovingly maintained, the residence features new dual-pane windows, fresh interior paint, and new carpeting, all thoughtfully integrated to preserve its rustic character. The main level offers a spacious living room framed by panoramic view windows, two bedrooms, and a large entertainer's kitchen. Upstairs, a generous bonus family room and dedicated office accompany two oversized bedrooms, each spanning the width of the home and offering dual exposures to both the ocean-view and mountain-view sides. These flexible spaces can easily function as additional sleeping areas, guest quarters, or multipurpose rooms. Energy-efficient upgrades include grid-connected solar, a Solahart solar water heating system, a roof designed for optimal insulation performance, and a raised foundation with an expansive crawlspace. Maintained using organic farming practices, the land has previously supported orchards and vineyards and is well-positioned for future agricultural use. This expansive horse property offers ample room for riding, grazing, barns, arenas, and other equestrian improvements. Sandy loam soil provides excellent drainage and growing conditions, while extensive irrigation lines serve cleared portions of the property. Carefully crafted terracing and stone masonry create inviting outdoor spaces and abundant parking. A 24' x 24' equipment shed with a 7-foot roll-up door and secondary access door provides ample storage for tractors, tools, and equipment. From private estate living and boutique agriculture to future development opportunities, this remarkable property offers a truly unparalleled lifestyle in one of Southern California's most scenic settings.

Mortgage Calculator

Est. Monthly Payment

$7,490

Principal & Interest$6,069
Property Tax$1,100
Insurance$321
%($220,000)
%
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

23C
Est. Monthly Rent
$4,968

4 leases of 4-bed houses in 92028 · $4,441–$5,452

Blended 50/50 with the zip's market median ($5,102)

Monthly Cashflow

Rent − PITIA

-$2,522
Full Cashflow

Incl. vacancy, PM, maint, capex

-$4,581

What would make this work?

$4,581/mo short at 20% down; 81% down or +$5,950/mo rent closes it.

Break-even price

54% under asking

$500,555
Break-even rent

$5,950/mo above the estimate

$10,918/mo
Cashflow at 35% down
−$3,443/mo
Down payment to break even

$891,000 cash

81%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$6,069
Cap Rate
1.89%
Cash-on-Cash
-24.99%
DSCR

Need ≥ 1.25 for DSCR loan

0.66

NOI (Annual)
$20,833
Price-to-Rent

Lower = better for investors

18.5

* 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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CCashflow−$4,581/mo