3415 Caballo, Fallbrook, California 92028, Fallbrook, 92028 - 3 bed, 2 bath
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Fallbrook, California 92028
This Single-Story Residential Asset presents a High-Potential Investment Opportunity, listed at $999,900—positioned well above the $820,678 Fair Market Value by -21%. While the property requires a comprehensive interior renovation to address its Condition Rating of 5, the expansive 1.1-acre lot and dual 2-car garages provide significant value-add potential. Located in the Fallbrook Union district, this property offers a tranquil lifestyle with scenic hill views. This is an ideal acquisition for Value-Add Investors or Contractors seeking a project with substantial land utility.
Property is extensive renovation needed.
Built in 1988, the property is over 30 years old and appears to retain mostly original finishes. The interior features dated oak cabinetry, 1980s-style wallpaper, and older tile flooring, indicating a need for a comprehensive rehab of the kitchen and bathrooms to meet modern standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 49223, living area = 2240.
Situated on over an acre of land, this property offers exceptional privacy and stunning countryside and hill views, providing a quintessential tranquil Fallbrook lifestyle.
The inclusion of two separate 2-car garages is a rare and highly valuable feature, offering abundant space for car enthusiasts, workshops, or extensive storage needs.
Built in 1988, the home may require cosmetic updates or system upgrades to meet the expectations of buyers looking for contemporary luxury finishes at this price point.
While the property is served by several schools, the ratings within the district are mixed, which may be a point of concern for families prioritizing high-performing educational institutions.
Welcome to beautiful and tranquil Fallbrook! This charming single-story home is situated on just over an acre of land, surrounded by stunning countryside views, offering the perfect blend of serenity and convenience. You'll be just minutes away from Monserate Winery, along with a variety of shopping and dining options. This inviting home features three spacious bedrooms and two bathrooms, providing ample space for comfortable living. With 2,240 sq. ft. of living space, you'll enjoy an open and airy layout that enhances the home's warmth. The wood flooring adds a touch of elegance, while the brick fireplace serves as a cozy focal point for gatherings and relaxation. The property also includes not one, but two separate 2-car garages, providing abundant storage and parking space—perfect for car enthusiasts or anyone in need of extra room for hobbies and tools. Don’t miss the opportunity to make this picturesque property your own. Experience the peaceful lifestyle of Fallbrook while enjoying modern comforts!
No exterior & parking available.
Grades K-6 • 3.1 mi
Grades K-5 • 3.3 mi
Grades K-6 • 4.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 3.0 | 32% |
| Square foot | 2,240 | 2,288 | 45% |
| Lot Size | 49,223 | 25,265 | 62% |
| Price | $949.0K | $929.0K | 54% |
| Price per sq ft | $424 | $423 | 50% |
| Built year | 1988 | 1991 | 41% |
| HOA | $0 | $0 | 50% |
| Days on market | 46 | 141 | 12% |
Jun 12, 2026
$949,000
$999,900
-5% Price Drop
Initial Listing
Apr 29, 2026
$999,900
Initial Listing