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!
Property Details
Price:
$650,000
MLS #:
NDP2607141
Status:
Pending
Beds:
3
Baths:
2
Type:
Single Family
Subtype:
Single Family Residence
Neighborhood:
92028fallbrook
Listed Date:
Jul 29, 2026
Finished Sq Ft:
1,400
Lot Size:
66,646 sqft / 1.53 acres (approx)
Year Built:
1979
See this Listing
Schools
School District:
Fallbrook Union
Elementary School:
Vallecitos
Interior
Appliances
RF, ER
Bathrooms
2 Full Bathrooms
Cooling
NO
Flooring
LAM, CARP
Laundry Features
OUT, DINC, WINC
Levels
U
Main Level Bathrooms
1
Main Level Bedrooms
1
Exterior
Common Walls
NCW
Community Features
RUR
Garage Spaces
2
Parking Spots
2
Parking Total
2
View
MT
Financial
Map
Community
- Address5505 Rainbow Heights RD Fallbrook CA
- CityFallbrook
- CountySan Diego
- Zip Code92028
Subdivisions in Fallbrook
Market Summary
Current real estate data for Single Family in Fallbrook as of Aug 22, 2026
247
Single Family Listed
81
Avg DOM
430
Avg $ / SqFt
$1,105,488
Avg List Price
Property Summary
- 5505 Rainbow Heights RD Fallbrook CA is a Single Family for sale in Fallbrook, CA, 92028. It is listed for $650,000 and features 3 beds, 2 baths, and has approximately 1,400 square feet of living space, and was originally constructed in 1979. The current price per square foot is $464. The average price per square foot for Single Family listings in Fallbrook is $430. The average listing price for Single Family in Fallbrook is $1,105,488.
Similar Listings Nearby
Courtesy of Daniel Team Realty. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2026. California Regional Multiple Listing Service. All rights reserved.5505 Rainbow Heights RD
Fallbrook, CA