Beautifully renovated duplex situated on a spacious lot in the desirable Rainbow/Fallbrook community, offering an exceptional opportunity for investors, owner-occupants, or multigenerational living. Both residences have undergone extensive renovations with thoughtful updates throughout, creating a clean, modern, turnkey property that reflects exceptional pride of ownership. Improvements include new flooring, windows, upgraded kitchens with modern countertops and custom islands, remodeled bathrooms, updated fixtures, sinks, faucets, tile work, recessed lighting, Wi-Fi-enabled mini-split heating and cooling systems, smart-home features, landscaping, fencing, and independent updated electrical panels for each residence. Each unit offers comfortable and functional living spaces with modern finishes throughout. The expansive lot has been improved and graded, providing generous outdoor space and exciting possibilities for future expansion. The property may offer potential for adding an ADU and Junior ADU, creating an opportunity for additional living space, multigenerational use, or future rental income. Additional possibilities may include ranch or equestrian use, hobby farming, or other improvements. All future development and uses are subject to applicable County requirements, zoning, permits, and buyer verification. Conveniently located just minutes from Interstate 15, the property offers the privacy and space of country living while maintaining easy access to Fallbrook, Temecula, and surrounding North County communities. A rare opportunity to own a beautifully remodeled, income-producing two-home property offering modern amenities, usable land, flexibility, and exciting future potential. Live in one and rent the other, create a multigenerational compound, explore the potential for an ADU and JR ADU, or add this unique property to your investment portfolio.
For sale
Listed by: Premier Agency R.E. Inc • Erick Ciprian • Contact: ciprianhomes@gmail.com
$1,150,000
2005-07 Camino Rainbow, Fallbrook, CA 92028
4beds
2baths
1,920sqft
Duplex
Built in 1970
-- sqft lot
$1,121,500 Zestimate®
$599/sqft
$-- HOA
What's special
- 9 days
- 512
- 20
Zillow last checked:
Listing updated:
Listed by:
Erick Ciprian DRE #01826437 ciprianhomes@gmail.com,
Premier Agency R.E. Inc
Source: CRMLS,MLS#: PTP2607291
Originating MLS: California Regional MLS (North San Diego County & Pacific Southwest AORs)
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
Cooling
- Central Air, ENERGY STAR Qualified Equipment
Appliances
- Included: Gas Oven, Gas Range, Microwave, Refrigerator
- Laundry: Laundry Closet
Features
- Has fireplace: No
- Common walls with other units/homes: 1 Common Wall
Interior area
- Total structure area: 1,920
- Total interior livable area: 1,920 sqft
Video & virtual tour
Property
Parking
- Total spaces: 6
- Uncovered spaces: 6
Features
- Entry location: Main Entry
- Pool features: None
Lot
- Size: 1,920 Square Feet
- Features: 0-1 Unit/Acre
Details
- Parcel number: 1026305100
- Zoning: R-1
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex
- Attached to another structure: Yes
Materials
- Frame, Hardboard
Condition
- New construction: No
- Year built: 1970
Utilities & green energy
- Sewer: Public Sewer
Community & HOA
Community
- Features: Curbs, Foothills, Rural, Sidewalks
Location
- Region: Fallbrook
Financial & listing details
- Price per square foot: $599/sqft
- Tax assessed value: $248,332
- Annual tax amount: $2,618
- Date on market: 9/26/2026
- Cumulative days on market: 10 days
- Listing terms: Cash,Conventional,VA Loan
Estimated market value
$1,121,500
$1.07M - $1.18M
$2,521/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/27/2026 | Listed for sale | $1,150,000+53.3%$599/sqft |
Source: | ||
| 6/12/2026 | Sold | $750,000+7.3%$391/sqft |
Source: | ||
| 5/7/2026 | Pending sale | $699,000$364/sqft |
Source: | ||
| 4/22/2026 | Listed for sale | $699,000$364/sqft |
Source: | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,618 +1.6% | $248,332 +2% |
| 2024 | $2,577 +2.5% | $243,464 +2% |
| 2023 | $2,514 +1.4% | $238,691 +2% |
| 2022 | $2,478 +2.7% | $234,012 +2% |
| 2021 | $2,413 -0.4% | $229,424 +1% |
| 2020 | $2,424 +3.8% | $227,073 +2% |
| 2019 | $2,335 -0.2% | $222,621 +2% |
| 2018 | $2,339 +2% | $218,257 +2% |
| 2017 | $2,292 +2.4% | $213,979 +2% |
| 2016 | $2,238 +1.6% | $209,784 +1.5% |
| 2015 | $2,203 +2.2% | $206,634 +2% |
| 2014 | $2,156 | $202,587 +0.5% |
| 2013 | -- | $201,672 +2% |
| 2012 | -- | $197,719 +2% |
| 2011 | -- | $193,843 +0.8% |
| 2010 | -- | $192,395 -0.2% |
| 2009 | -- | $192,853 +2% |
| 2008 | -- | $189,072 |
Find assessor info on the county website
Monthly payment
Est. payment





