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Rainbow 92028
5521 Rainbow Heights Road
$749,000
● House - For Sale

5521 Rainbow Heights Road

Fallbrook, CA 92028
bedrooms
1 Bed
bathrooms
1 Bath
square feet
888 Ft²
$3,678
Est. Monthly

About This Property

Nearly two acres of elevated Fallbrook Heights land with no HOA, no restrictions on yourvision, and a turnkey 2015-built cottage ready the day you close -- that is the opportunityat 5521 Rainbow Heights Rd. The 1.95-acre parcel sits in the Rainbow Heights corridor ofFallbrook, California's legendary avocado and citrus country, where acreage with thiscombination of usable land, modern construction, and zero HOA constraints is genuinely rare. The 888 sq ft single-family residence, built in 2015 and in nearly new condition, provides a clean, livable anchor while you plan what comes next -- whether that is anADU, an orchard, a hobby farm, outbuildings, or simply the privacy and elbow room that anear-two-acre elevated parcel delivers. The lot scale, the Fallbrook Heights topography,and the absence of HOA oversight are the story here; the move-in-ready cottage is thebonus. Gross rent estimate of approximately $3,716/month supports an investor or househack angle for a cash or portfolio-lender buyer. Cash buyers and land-savvybuyers with portfolio financing are best positioned. Verify all details independently.
Unit Size
888 Ft²
Days on Market
5 days
Land Size
1.95 acres
Price per sqft
$843
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
2015

Listed By

Omar Lopez Ortiz
My Realty Company Inc.

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Last updated: 4 days ago (CRMLS #V1-39305)

Price History

Date / Event Date Event Price
Oct 15, 2026 Listed by My Realty Company, Inc. $749,000
Listed by My Realty Company, Inc.
Mar 8, 2024 No longer available -
No longer available
Oct 25, 2023 In contract -
In contract
Oct 12, 2023 Listed by eXp Realty of California Inc. $699,000
Listed by eXp Realty of California Inc.
PRIVATE oasis on a hilltop with VIEWS 1.95 acres. Bright open-concept living room with large windows. Sleek kitchen with ample counter space. Built in 2015, LED lights throughout, water softener, high ceilings, and all appliances included. Wake up to views from the bedroom and enjoy entertaining guests on the patio deck overlooking Rainbow Valley. Two sheds located on the property. One with a half bath. Other for storage. Enjoy the blood oranges, avocados, and guavas on this one of a kind location. The land has unlimited potential. NO HOA NO MELLO-ROOS. The manager has listed the unit size as 888 square feet.
Oct 16, 2018 Sold
Sold
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Property Highlights

Air Conditioning
Fireplace
With View
Parking Details
Has Open Parking
Parking Features: Asphalt, Driveway
Interior Details
Full Bathrooms: 1
Interior Features: Ceiling Fan(s), Crown Molding, Open Floorplan, Walk-In Closet(s), SeparateFormalDiningRoom, LivingRoomDeckAttached, BedroomOnMainLevel
Appliances: Dishwasher, Electric Range, Gas Range, Microwave, Refrigerator, Tankless Water Heater
Flooring Type: Tile
Door Features: ENERGY STAR Qualified Doors, French Doors, Sliding Doors, DoubleDoorEntry
Laundry Features: Inside, See Remarks
Fireplace Features: None
Exterior Details
Square Footage: 888
Square Footage Source: $0
Security Features: Carbon Monoxide Detector(s), Smoke Detector(s)
Property Condition: Turnkey
Year Built Source: Public Records
Year Built: 2015
Levels: One
Other Structures: Shed(s), Storage
Window Features: Blinds, Drapes
Patio and Porch Features: Deck
Pool Features: None
Lot Size Area: 1.95
Lot Size Units: Acres
Lot Size Acres: 1.95
Lot Size Square Feet: 84942
Tax Lot: 4051
Water Source: Public
Utilities Details
Cooling Type: Central Air
Heating Type: Propane
Sewer : Septic Tank

Building Info

Overview

    General

  • Year Built: 2015
  • Effective Year Built: 2015
  • Building Count: 1
  • Bedroom Count: 1
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0
  • Location Influence Type: 224

    Dimensions

  • Lot Size Square Feet: 84,942
  • Total Building Area: 888
  • Building Area: 888
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 888
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: ROBINSONS SUBDIVISION
  • Land Acres: 0000001950
  • Standard Land Use Code: 1001
  • County Land Use Code: 11
  • Legal Description 1: PAR 3 (EX ST) TR PM04051

Neighborhood

  • School District Name: Vallecitos Elementary School District
  • School Tax School District: FALLBROOK UNION
  • Census Tract: 019002

Zoning

  • Zoning: A70

Geography

  • Assessors Map Reference: PM04051
  • Subdivision Tract Number: 4051
  • Parcel: 102-630-66-00
  • Municipality: VALLECITOS
  • Latitude: 33.4071
  • Longitude: -117.141

    Address

  • Full Address: 5521 Rainbow Heights Rd
  • Address - House Number: 5521
  • Address - Street Name: Rainbow Heights
  • Address - Suffix Type: Rd
  • State: CA
  • City Name: Fallbrook
  • Carrier Code: R002
  • 4-Digit Zip Code: 8842
  • Zip Code: 92028

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $593,112
  • Tax Rate Code Area: 93-011

    Appraisal Valuation

  • Standard Deviation: 0.0528
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 98
  • Final Value: 705,622
  • High Value: 743,244
  • Low Value: 668,001

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $555,000
  • Assessed Land Value: $371,389
  • Assessed Improvements Value: $183,611

    Sales

  • Current Sale Contract Date: Oct 31, 2023
  • Current Sale Recording Date: Mar 06, 2024
  • Current Sale Price:
  • Current Sale Document Type: 36
  • Current Sale Input Document Number: 56061
  • Previous Sale Recording Date: Mar 06, 2023
  • Previous Sale Contract Date: Feb 10, 2023
  • Previous Sale Amount: $665,000
  • Previous Sale Document Type: 36
Data used for valuation calculations is provided by RealtyHop, and other third party sources

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Rainbow


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Frequently Asked Questions

When was property at 5521 Rainbow Heights Road built and last sold?
The property at 5521 Rainbow Heights Road was built in 2015 and last sold on Oct 31, 2023 for $45,000.
How much is this home worth?
The estimated value of the home located at 5521 Rainbow Heights Road is $748,041.
What are some comparable homes to 5521 Rainbow Heights Road?
There are currently no comparable homes to 5521 Rainbow Heights Road.