1609 Santa Margarita Drive, Fallbrook, California 92028, Fallbrook, 92028 - 4 bed, 5 bath
1609 Santa Margarita Drive
Fallbrook, California 92028
Property Price
SUMMARY
Analysis of 1609 Santa Margarita Drive, Fallbrook, California 92028 reveals a Fairly Priced Property with a current list price of $1,675,000 aligned with the estimated $1,641,448 Fair Market Value. This represents a stable investment opportunity at market rate. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Fallbrook Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
Built in 2004, this custom estate is 20 years old, fitting the 'Good' category's age range. The property is exceptionally well-maintained with high-quality materials like 1" solid hickory floors and hand-carved beams. The gourmet kitchen features high-end appliances, including a GE Monogram refrigerator, an Elmira antique reproduction stove, and new dual GE Profile dishwashers, indicating recent updates. Bathrooms are clean, functional, and well-appointed with quality finishes. All major systems, including zoned HVAC, appear to be in excellent working order with minimal wear and tear, making it move-in ready without immediate renovation needs.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 164656, living area = 3780.
- Equestrian & Agricultural Estate
This property offers premier equestrian amenities including a 4-stall barn, riding arena, tack room, RV parking with utilities, and direct access to the Santa Margarita Horse Trails. Additionally, it features 218 producing Hass avocado trees with a high-output well and computerized irrigation, providing significant agricultural value and potential income.
- High-Quality Custom Home
The custom-built estate showcases exceptional craftsmanship with timeless architecture, 1" solid hickory floors, hand-carved beams, a dramatic 17’ vaulted entry, and detailed brickwork. The gourmet kitchen is equipped with high-end appliances like a GE Monogram refrigerator and Elmira antique reproduction stove.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3780, other record living area = 3607. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
- Niche Market Appeal
The extensive equestrian and agricultural features, while significant assets, cater to a specialized buyer demographic, potentially narrowing the pool of interested purchasers compared to a standard residential property.
- High Maintenance Requirements
The large 3.78-acre lot, equestrian facilities, and 218 avocado trees demand substantial ongoing maintenance, time, and potentially specialized knowledge or hired labor, which could be a deterrent for some buyers.
About 1609 Santa Margarita Drive
1609 Santa Margarita Drive, Fallbrook, CA—this custom estate offers 4 bedrooms, 4 bathrooms, and 3,780 sq. ft. of refined living space on 3.78 acres of premier equestrian and agricultural land. Designed for those who value craftsmanship and privacy, the home blends timeless architecture with warm natural materials, including 1" solid hickory floors, hand-carved beams, a dramatic 17’ vaulted entry, and detailed brickwork. The gourmet kitchen features a GE Monogram built-in refrigerator, Elmira antique reproduction stove, pot filler, and new dual GE Profile dishwashers. A private 600 sq. ft. guest house with its own bed, bath, and entrance is ideal for extended family or visitors. Above the main home, a 1,200 sq. ft. semi-finished attic with soaring 17’ ceilings offers excellent potential for added living space or a studio. Equestrian amenities include a 4-stall barn, riding arena, tack room with bath and laundry hookups, trailer/RV parking with utilities, and keyed access to the gated Santa Margarita Horse Trails for miles of riverfront riding. Agricultural features include 218 producing Hass avocado trees supported by a high-output well and computerized irrigation. Additional highlights include multiple garages, RV parking, zoned HVAC, surround sound, and sweeping views of the Santa Margarita River Valley—creating a serene and elevated ranch lifestyle. We invite you to experience this exceptional property in person and discover the unique beauty it offers.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 2004
- Lot Size
- 164,656 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 5 (5 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Fallbrook Unified Schools
William H. Frazier Elementary School
Grades K-6 • 1.3 mi
Maie Ellis Elementary
Grades K-6 • 1.6 mi
Fallbrook Street Elementary School
Grades K-6 • 1.8 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 53% |
| Baths | 5.0 | 3.0 | 90% |
| Square foot | 3,780 | 2,285 | 88% |
| Lot Size | 164,656 | 27,007.1 | 89% |
| Price | $1.68M | $917.5K | 93% |
| Price per sq ft | $443 | $423 | 60% |
| Built year | 2004 | 1991 | 72% |
| HOA | $0 | $0 | 50% |
| Days on market | 107 | 178 | 19% |
Pricing History
Listed for Sale
Mar 6, 2026
$1,675,000
$1,750,000
-4% Price Drop
Initial Listing
Price Change
Jan 27, 2026
$1,750,000
$1,825,000
-4% Price Drop
Initial Listing
Price Change
Nov 20, 2025
$1,825,000
Initial Listing
Sold
Jun 20, 2017
$1,200,000
Public Record