
6750 Rainbow Heights Road
Ctop 80%Fallbrook, CA 92028
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
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.
Comparable Properties
5 comps foundThis Property
$4,968
Comp Average
$5,145
3562 Mission Road
5bd / 4.5ba · 3,122 sqft · Single Family
$1.10M
Est. $5,901/mo

1485 Via Ladera
4bd / 3ba · 3,206 sqft · Single Family
$1.20M
Est. $4,982/mo
2890 Vista Del Rio
4bd / 3ba · 2,949 sqft · Single Family
$1.20M
Est. $4,882/mo
1841 Tecalote Drive
4bd / 3ba · 3,312 sqft · Single Family
$1.24M
Est. $5,048/mo
3144 Alta Verde Dr.
4bd / 4.5ba · 3,022 sqft · Single Family
$1.26M
Est. $4,911/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
4 leases of 4-bed houses in 92028 · $4,441–$5,452
Blended 50/50 with the zip's market median ($5,102)
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$4,581/mo short at 20% down; 81% down or +$5,950/mo rent closes it.
- Break-even price
- $500,555
- Break-even rent
- $10,918/mo
- Cashflow at 35% down
- −$3,443/mo
- Down payment to break even
- 81%
- Rate to break even
- Not reachable
54% under asking
$5,950/mo above the estimate
$891,000 cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* 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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