1239 Rainbow Valley Boulevard, Fallbrook, California 92028, Fallbrook, 92028 - 3 bed, 2 bath

1239 Rainbow Valley Boulevard, Fallbrook, California 92028 home-pic-0

1239 Rainbow Valley Boulevard

Fallbrook, California 92028

ACTIVE
CONDITION: EXCELLENT
3Beds
2Baths
1,817Sq Ft
93,654Lot Size

Property Price

LIST PRICE$929,900
EST. MARKET VALUE
$990,099
6% BelowMARKET VALUE

SUMMARY

Estimated Market Value

$990,099 +$60,199 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Fallbrook.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
1239 Rainbow Valley Boulevard
Subject
$929,900*
List Price
321,817$545-
A
1029 Rainbow Valley Ct
Sold
$1,100,000431,792$6140.3 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Excellent
TeardownExcellent

Property is new construction or fully renovated.

This historic schoolhouse has undergone an extensive recent renovation, including a new 2025 roof, new HVAC system, new drywall, and fresh Victorian-style paint. The interior features refinished original hardwood and knotty pine flooring, completely remodeled bathrooms, and an updated kitchen, meeting the criteria for a property renovated within the last 5 years with no deferred maintenance.

PROSSTRENGTHS & OPPORTUNITIES

  • High Available Lot Utilization

    The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 93654, living area = 1817.

  • Historic Charm & Character

    This unique 1887 former schoolhouse features original hardwood flooring, a massive fireplace, and restored windows, offering a rare blend of history and architectural character.

  • Extensive Modern Upgrades

    The property boasts significant recent improvements including a new 2025 roof, updated HVAC system, new drywall, and fully remodeled bathrooms and kitchen for modern comfort.

CONSRISKS & DEFICIENCIES

  • Historic Structure Maintenance

    Despite extensive renovations, a home originally built in 1887 may require more specialized ongoing maintenance and care compared to modern construction.

  • Unconventional Layout

    The converted schoolhouse floor plan, including a loft and specific bedroom configurations, may not appeal to buyers seeking a traditional modern residential flow.

  • Potential Road Proximity

    The property's location near Rainbow Valley Boulevard and local commercial points like Rainbow Oaks may result in some ambient road noise or reduced seclusion.

About 1239 Rainbow Valley Boulevard

Original Wine Country Schoolhouse. Very special and unique Country property just minutes from Old Town Temecula. Two plus gentle oak studded acres featuring “The Old Vallecitos School House” converted to a three bedroom plus loft, two bathrooms. The renovated Schoolhouse was built in 1887 and was used as such until it was moved onto this property in the 1950's. Beautiful hardwood flooring, a huge fireplace and recently opened up original windows are charming touches to the original first floor. Upstairs the bedrooms have knotty pine flooring and old slat windows. There is a full bedroom and bath downstairs. The home has new drywall, fresh interior and exterior "Victorian" paint and all of the wood flooring has been refinished. Propane has been added and so have heating and A/C. New Roof in 2025 plus all home was tented and all termite work completed. New electronic entry gate just added. Both bathrooms have been completely remodeled and kitchen has been updated with new sink, faucet and countertops. Outside beautiful natural landscape on gentle fertile land perfect for gardening. There is a large metal barn/workshop and a one horse old wood barn. Enjoy the charming setting while being only minutes to everything Temecula and Fallbrook have to offer including 60+ wineries within 20 minutes! Only .4 mile to Rainbow Oaks Restaurant and gas station.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
1887
Lot Size
93,654 Sq. Ft.

Interior

Total Bedrooms
3
Total Bathrooms
2 (2 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds3.03.0
50%
Baths2.03.0
32%
Square foot1,8172,281.5
31%
Lot Size93,65427,007.1
78%
Price$929.9K$917.5K
50%
Price per sq ft$512$423
82%
Built year18871991
1%
HOA$0$0
50%
Days on market20178
5%

Pricing History

Listed for Sale

Feb 15, 2026

$929,900

Initial Listing

Sold

Nov 25, 2015

$350,000

Public Record

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