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!
Single-familyProperty Type
1979Year Built
1.53 acresLot Size
$464Price/Sq.Ft.
2 car garageParking
Listed by AJ Maloney•DRE #02078295• Daniel Team Realty
Listed by Daniel Maloney•DRE #00744558• Daniel Team Realty
Contact: aj@danielteamrealty.com
Bought with Henry Valdez•DRE #01323339• Cali Real Estate Professionals
Est. $2,962 per month, based on comparable rentals
Sale and tax history for 5505 Rainbow Heights Rd
Sale History
Tax History
Date
Event
Price
CRMLS #NDP2607141
Sep 1, 2026
Sold
$650,000
$464/sq ft
Aug 12, 2026
Pending
—
Jul 29, 2026
Listed
$650,000
$464/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$2,290 (+1.2%)
$194,924 + $90,009
$284,933
2024
$2,263 (+2.5%)
$132,886 + $83,046
$215,932
2023
$2,208 (+1.4%)
$130,281 + $81,418
$211,699
2022
$2,177 (+2.7%)
$127,727 + $79,822
$207,549
2021
$2,121 (−0.4%)
$125,223 + $78,257
$203,480
2020
$2,130 (+1.9%)
$122,768 + $76,723
$199,491
2019
$2,090 (+1.7%)
$121,510 + $75,937
$197,447
2018
$2,056 (+2.0%)
$119,128 + $74,449
$193,577
2017
$2,015 (+2.4%)
$114,503 + $71,559
$186,062
2016
$1,967 (+1.5%)
$114,503 + $71,559
$186,062
2015
$1,937 (+2.2%)
$112,258 + $70,156
$182,414
2014
$1,896 (+0.8%)
$108,407 + $67,750
$176,157
2013
$1,882 (+1.5%)
$108,407 + $67,750
$176,157
2012
$1,855 (+2.1%)
$107,918 + $67,444
$175,362
2011
$1,817 (+1.1%)
$105,802 + $66,122
$171,924
2010
$1,797 (+0.5%)
$103,728 + $64,826
$168,554
2009
$1,788 (+1.7%)
$102,953 + $64,342
$167,295
2008
$1,757
$103,198 + $64,495
$167,693
Public record
Public record
Zoning
Beds
3
Baths
2
Stories
—
Lot width
—
Lot depth
—
Lot size
1.53 Acres
Year renovated
1979
Sq. Ft.
864
Year built
1979
Style
Single Family Residential
County
San Diego County
APN
1026306900
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Sep 14, 2026.
A70
Limited Agricultural Zone
The A70 Use Regulations are intended to create and preserve areas intended primarily for agricultural crop production. Additionally, a limited number of small farm animals may be kept and agricultural products raised on the premises may be processed.
Typically, the A70 Use Regulations would be applied to areas throughout the County to protect moderate to high quality agricultural land.
Permitted uses
Include but are not limited to:
Agriculture
Housing
Processing
Fire house
Police station
Agriculture-Cropland
Agriculture-Grove / orchard
Park & open space
Property details
Parking
Parking / Garage Information
# of Garage Spaces: 2
# of Parking Spaces: 2
Interior
Laundry Information
Has Laundry
Outside, Washer Included, Dryer Included
Kitchen Information
Appliances: Refrigerator, Electric Range
Has Appliances
Bathroom Information
# of Baths (Full): 2
Room Information
Kitchen, Living Room, Main Floor Bedroom
Fireplace Information
Dining Room
Has Fireplace
Flooring Information
Carpet, Laminated
Interior Features
Entry Level: 1
Entry Location: Front Door
Levels: Two
Main Level Bathrooms: 1
Main Level Bedrooms: 1
Exterior
Exterior Features
Pool Features: None
Lot Information
Lot Size Source: Assessor's Data
Lot Features: Agricultural
Property Information
Common Walls: No Common Walls
Parcel Number: 1026306900
Total # of Stories: 2
Has View
Year Built Source: Assessor
Utilities
Utilities Information
Sewer: Septic Tank
Location
Multi-Unit Information
# of Units In Community: 1
Neighborhood Information
Community Features: Rural
School Information
Elementary School: Vallecitos
High School District: Fallbrook Union
Elementary School 2: VLOELE
Location Information
Latitude: 33.40823300
Longitude: -117.14211800
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.
Zoning: SR-4
Public facts
Beds: 3
Baths: 2.0
Sq. Ft.: 864
Stories: —
Lot Size: 1.53 acres
Style: Single Family Residential
Year Built: 1979
Year Renovated: 1979
County: San Diego County
APN: 1026306900
Home facts updated by county records on Sep 14, 2026
Other
Listing Information
IDX Contact Info: aj@danielteamrealty.com
Days Active in MLS: 11
Continuous Days Active in MLS: 11
Listing Agent Information
List Agent First Name: AJ
List Agent Last Name: Maloney
Co-List Agent First Name: Daniel
Co-List Agent Last Name: Maloney
Listing Office Information
List Office Name: Daniel Team Realty
Co-List Office Name: Daniel Team Realty
Selling Agent Information
Buyer Agent First Name: Henry
Buyer Agent Last Name: Valdez
Selling Office Information
Buyer Office Name: Cali Real Estate Professionals
Around this home
Schools
Vallecitos Elementary School
Public K-8 • Assigned • 0.5mi
6/10
Fallbrook High School
Public 9-12 • Assigned • 7.1mi
6/10
Provided by GreatSchools
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
8/10 Fire Factor
36% chance of being in a wildfire in next 30 years
7/10 Heat Factor
7 days above 97° expected this year, 22 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
5/10 Air Factor
7 unhealthy days expected this year, 8 days in 30 years
Provided by First Street
Historical weather
Fallbrook, CA • 92028
Average low and high temperatures (°F)
69
49
70
51
73
52
70
51
74
55
78
58
81
60
87
63
84
63
80
57
72
51
70
49
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
87/ 100
Very good sunlight
Sunscore
This home receives average direct sun exposure in Fallbrook. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
8.6 hrs
5.6 hrs
JuneDecember
Provided by Shadowmap
Estimated sale price
$672,000 – $813,000
Reach more buyers when you sell with Redfin. Plus, you'll save $7,069 in fees.