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For sale
    • Listed by: Daniel Team Realty • AJ Maloney • Contact: aj@danielteamrealty.com
    $650,000

    5505 Rainbow Heights Rd, Fallbrook, CA 92028

    3beds
    1,400sqft
    : 
    $4,288/mo
    Get pre-qualified
    Single Family Residence
    Built in 1979
    1.53 Acres Lot
    $637,500 Zestimate®
    $464/sqft
    $-- HOA

    What's special

    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 Unified School District 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!
    3 days
    |
    1,780
    |
    118
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    AJ Maloney DRE #02078295 aj@danielteamrealty.com,

    Daniel Team Realty,

    Daniel Maloney DRE #00744558 760-533-8326,

    Daniel Team Realty

    Source: CRMLS,MLS#: NDP2607141MLS LogoOriginating MLS: California Regional MLS (North San Diego County & Pacific Southwest AORs)

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 3
      • Bathrooms: 2
      • Full bathrooms: 2
      • Main level bathrooms: 1
      • Main level bedrooms: 1
      Rooms
      • Room types: Bedroom, Kitchen, Living Room
      Bedroom
      • Features: Bedroom on Main Level
      Cooling
      • None
      Appliances
      • Included: Electric Range, Refrigerator, Dryer, Washer
      • Laundry: Outside
      Features
      • Bedroom on Main Level
      • Flooring: Carpet, Laminate
      • Has fireplace: Yes
      • Fireplace features: Dining Room
      • Common walls with other units/homes: No Common Walls
      Interior area
      • Total interior livable area: 1,400 sqft
      Video & virtual tour

      Property

      Parking
      • Total spaces: 2
      • Parking features: Garage
      • Garage spaces: 2
      Features
      • Levels: Two
      • Stories: 2
      • Entry location: Front Door
      • Pool features: None
      • Has view: Yes
      • View description: Mountain(s)
      Lot
      • Size: 1.53 Acres
      • Features: Agricultural
      Details
      • Parcel number: 1026306900
      • Zoning: SR-4
      • Special conditions: Standard

      Construction

      Type & style
      • Home type: SingleFamily
      • Property subtype: Single Family Residence
      Condition
      • Year built: 1979

      Utilities & green energy

      • Sewer: Septic Tank

      Community & HOA

      Community
      • Features: Rural
      Location
      • Region: Fallbrook

      Financial & listing details

      • Price per square foot: $464/sqft
      • Tax assessed value: $215,932
      • Annual tax amount: $2,290
      • Date on market: 7/29/2026
      • Cumulative days on market: 3 days
      • Listing terms: Cash,Conventional

        Estimated market value

        $637,500

        $606,000 - $669,000

        $2,926/mo

        Price history

        DateEventPrice
        7/29/2026Listed for sale$650,000$464/sqft
        Source: CRMLS #NDP2607141 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$2,290 +1.2%$215,932 +2%
        2024$2,263 +2.5%$211,699 +2%
        2023$2,208 +1.4%$207,549 +2%
        2022$2,177 +2.7%$203,480 +2%
        2021$2,121 -0.4%$199,491 +1%
        2020$2,130 +4.9%$197,447 +2%
        2019$2,030 -1.2%$193,577 +2%
        2018$2,056 +2%$189,783 +2%
        2017$2,015 +2.4%$186,062 +2%
        2016$1,968 +1.5%$182,414 +1.5%
        2015$1,938 +2.2%$179,675 +2%
        2014$1,897 $176,157 +0.5%
        2013-- $175,362 +2%
        2012-- $171,924 +2%
        2011-- $168,554 +0.8%
        2010-- $167,295 -0.2%
        2009-- $167,693 +2%
        2008-- $164,406
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        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.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.
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        Climate risks

        Neighborhood: 92028

        Getting around

        5 / 100
        Car-Dependent
        2 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating

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