1609 Santa Margarita Drive, Fallbrook, California 92028, Fallbrook, 92028 - 4 bed, 5 bath
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Fallbrook, California 92028
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"Fallbrook Equestrian Estate: 4BR custom home on 3.78 acres with 4-stall barn, 218 avocado trees, guest house, and river valley views. Listed at $1,675,000."
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I'll make sure no markdown either.
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"ALWAYS use when property is below market value".
List: 1,675,000. FMV: 1,641,448.
List is NOT below FMV. So I don't use it.
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"Use when equity gap is significant (estimation_ratio >= 2)".
Ours is -2. So I don't use it.
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"Use when showing equity potential".
None. So I don't use it.
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Included.
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Included.
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Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1609 Santa Margarita Drive Subject | $1,675,000* List Price | 4 | 5 | 3,780 | $443 | - |
A 1282 Olive Ave Active | $1,195,000 List Price | 4 | 3 | 3,133 | $381 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
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.
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.
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.
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.
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.
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.
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.
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.
No exterior & parking available.
Grades K-6 • 1.3 mi
Grades K-6 • 1.6 mi
Grades K-6 • 1.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 52% |
| Baths | 5.0 | 3.0 | 92% |
| Square foot | 3,780 | 2,414 | 88% |
| Lot Size | 164,656 | 32,234.5 | 91% |
| Price | $1.68M | $932.5K | 94% |
| Price per sq ft | $443 | $417 | 64% |
| Built year | 2004 | 1991 | 67% |
| HOA | $0 | $0 | 50% |
| Days on market | 153 | 181 | 40% |
Mar 6, 2026
$1,675,000
$1,750,000
-4% Price Drop
Initial Listing
Jan 27, 2026
$1,750,000
$1,825,000
-4% Price Drop
Initial Listing
Nov 20, 2025
$1,825,000
Initial Listing
Jun 20, 2017
$1,200,000
Public Record