Sold
Last Sold Price
3 beds1,400 sqft$464/sqft
5505 Rainbow Heights Rd, Fallbrook, CA 92028
Single FamilyProperty Type
1.53 acresLot Size
1979Year Built
$464/sq ftPrice per sq ft
2 carsParking Spaces

Description

INVESTOR'S DREAM on over 1.5 acres in highly sought-after Rainbow! Available for the first time ever, this 3 bedroom/2 bathroom home sits tucked away on a rare, expansive lot with beautiful mountain views! The detached barn offers generous storage for vehicles or equipment, with a huge upstairs space that presents ADU potential for passive income. Set in the quiet, rural charm of Rainbow, this lot offers plenty of flat land, leaving room for RV parking, animals, storage, or whatever the vision calls...INVESTOR'S DREAM on over 1.5 acres in highly sought-after Rainbow! Available for the first time ever, this 3 bedroom/2 bathroom home sits tucked away on a rare, expansive lot with beautiful mountain views! The detached barn offers generous storage for vehicles or equipment, with a huge upstairs space that presents ADU potential for passive income. Set in the quiet, rural charm of Rainbow, this lot offers plenty of flat land, leaving room for RV parking, animals, storage, or whatever the vision calls for! Located in the Fallbrook Union School District for High School (and Vallecitos School district for Elementary) and just a few miles off the 15 freeway, the property balances privacy with easy access. Opportunities like this rarely come to market. Unincorporated San Diego County!
Listing closed: 09/01/2026 12:00 AM • Source: CRMLS, MLS#: NDP2607141

Location

Listing Courtesy of Daniel Team Realty, AJ Maloney, DRE #02078295; Daniel Team Realty, Daniel Maloney, DRE #00744558

Sold By Cali Real Estate Professionals, Henry Valdez, DRE #01323339

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Payment Calculator

$3,495 per month

30 year fixed, 6.55% Interest

Principal and Interest

$3,304

Property Taxes

$191

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 5505 Rainbow Heights Road

Property Details
  • MLS Type: Residential / Single Family Residence
  • View: Mountain(s)
  • Parking Spaces Total: 2
  • Private Pool: No
  • Cooling Type: None
  • Building Type: Detached
  • Lot Size Source: Assessor
  • Living Area: 1400
  • Assessor Parcel Number: 102-630-69-00
  • Property Attached YN: false
  • Common Walls: No Common Walls
  • Stories Total: 2
  • Entry Level: 1
  • Fireplace: Yes
  • Pool: No
  • Spa: No
  • View: Yes
  • View: Yes
  • Association: No
  • Association Fee: $.00
  • Zoning: SR-4
  • Senior Community: No
  • Parcel Number: 1026306900
  • Area: 92028 - Fallbrook
  • Elementary School: Vallecitos
  • Middle School: Fallbrook Union Elementary Distr
  • High School: Fallbrook Union High School Dist
  • High School District: Fallbrook Union
  • Directions: Heading north on Old HWY 395, turn right onto Rainbow Valley Blvd, continue onto 8th Street, turn right onto Rice Canyon Rd, then turn left onto Rainbow Heights Rd, property is on the righthand side.
Building Information
  • Stories: 2
  • Year Built: 1979
  • Lot Size: 1.53 AC / 66,646 SF
Income / Expense / Tax Details
Income Details
  • Financing: Conventional
Tax / Assessment Info
  • Tax Tract Number: Pm0695
  • CFD/Mello-Roos Fee: $0
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Rural
  • Number Of Units In Community: 1
Property / Structure Info
Interior Features
  • Appliances: Refrigerator, Electric Range
  • Equipment: Dryer, Refrigerator, Washer, Electric Range
Exterior Features
  • Entry Location: Front Door
  • Fence: No
  • Structures: Rural
  • Other Structures: Rural
  • Miscellaneous: Rural
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Pool Heat: N/K
Land/Lot Info
  • Sign on Property: Yes
  • Lot Features: Agricultural
  • Lease Considered: No
  • Number Of Units: 1
  • Available For Lease: No
  • Land Lease: No
  • Land Lease Type: Fee
  • Sprinklers: No
  • Levels: Two
  • Sewer: Conventional Septic
  • Sewer/Septic: Conventional Septic
Parking Info
  • Garage Spaces: 2
  • Parking: No
  • Parking Garage Spaces: 2
  • Carport Spaces: 0
  • Attached Garage: No
Property / Structure Info
  • Residential Styles: Detached
  • Residential Unit Location: No Common Walls

Property History for 5505 Rainbow Heights Road

DateEvent & SourcePriceAppreciation
Sep 1, 2026

Sold

SDMLS #NDP2607141

$650,000
Sep 1, 2026

Sold

CRMLS #NDP2607141

$650,000
Sep 1, 2026

Sold

CLAW #NDP2607141MR

$650,000
DateEvent & SourcePrice
09/01/2026

Sold

SDMLS #NDP2607141

$650,000
09/01/2026

Sold

CRMLS #NDP2607141

$650,000
09/01/2026

Sold

CLAW #NDP2607141MR

$650,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 5505 Rainbow Heights Road

Taxable ValueLand$194,924Additions$90,009Total$284,933
Tax Record2025$2,290 ($191 / month)
Home Facts
Beds3Baths2Total Finished SqFt864 SqFtAbove Grade Finished SqFt864 SqFtLot Size66,647 SqFtStyleSingle Family ResidenceYear Built1979Year Renovated1979ZoningA70CountySAN DIEGOAPN102-630-69-00

Schools near 5505 Rainbow Heights Road

This home is within Vallecitos Elementary School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Vallecitos Elementary School
PublicK to 8

Fallbrook High School
Public9 to 12

Ivy High (Continuation) School
Public9 to 12

Oasis High (Alternative) School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 5505 Rainbow Heights Road, Fallbrook, CA 92028
$650,000
3
1,400
66,646
2
2
1,680
183,823
3
2
1,830
250,034
$395,000
4
4
2,589
231,739
$547,000
6
1,863
56,192
$650,000
3
2,000
86,248

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Daniel Team Realty, AJ Maloney, DRE #02078295; Daniel Team Realty, Daniel Maloney, DRE #00744558

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by SDMLS®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2026 SDMLS®, Inc.