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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
    : 
    $7,895/mo
    Get pre-qualified
    Duplex
    Built in 1970
    -- sqft lot
    $1,121,500 Zestimate®
    $599/sqft
    $-- HOA

    What's special

    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.
    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#: PTP2607291MLS LogoOriginating 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

        DateEventPrice
        9/27/2026Listed for sale$1,150,000+53.3%$599/sqft
        Source: CRMLS #PTP2607291 Report a problem
        6/12/2026Sold$750,000+7.3%$391/sqft
        Source: CRMLS #NDP2508494 Report a problem
        5/7/2026Pending sale$699,000$364/sqft
        Source: CRMLS #NDP2508940 Report a problem
        4/22/2026Listed for sale$699,000$364/sqft
        Source: CRMLS #NDP2508494 Report a problem

        Public tax history

        YearProperty taxesTax 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

        Payment breakdown

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        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
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        Climate risks

        Neighborhood: 92028

        Getting around

        16 / 100
        Car-Dependent
        25 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating

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