5434 Rainbow Heights Road, Fallbrook, California 92028, Fallbrook, 92028 - 3 bed, 3 bath
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Fallbrook, California 92028
This Spacious Rural Residence is a Strong Value Opportunity, listed at $935,000—positioned well below the $931,407 Fair Market Value (priced at market stability). The property features a Condition Rating of 3, highlighted by a recently renovated kitchen and solar power system. With over 2 acres of land, animal pens, and a flexible floor plan including a second master suite, it offers significant utility. This property is an ideal acquisition for Owner-Occupants seeking a private lifestyle or multi-generational families needing versatile living space.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5434 Rainbow Heights Road Subject | $905,000* List Price | 3 | 3 | 1,900 | $483 | - |
A 1810 Via Ladera Sold | $1,060,000 | 3 | 3 | 2,400 | $442 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property features a recently renovated kitchen (<5 years) with modern shaker cabinets, quartz counters, and updated LVP flooring throughout the main living areas. While the 1989 structure is well-maintained and includes updated systems like solar, the bathrooms retain some original dated tile work, preventing an 'Excellent' rating.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 87991, living area = 1900.
The property features over 2 acres of land with animal pens, a large shed, and ample space for an ADU or workshop, offering exceptional privacy and utility for rural living.
Equipped with a solar power system, the home provides cost-effective cooling and energy savings, which is a significant financial advantage for a property in this climate.
With over 2 acres of land and a structure built in 1989, the property likely requires significant ongoing maintenance for both the acreage and aging home systems.
At 1,900 square feet, the interior living space is relatively modest for the $935,000 price point, resulting in a high price-per-square-foot compared to some suburban alternatives.
Set up appointment to view this home! Perfect opportunity for space, privacy and an awesome house! Enjoy the daily breezes from over 2 acres of your own land conveniently located to 15fwy, Fallbrrok and Temecula! Single story 1900 sq ft 3 bd 3, 3 car garage + carport and xtra storage room. Updated kitchen has walk-in pantry and is open to living room. 2nd master has own full bath and entrance. It is on opposite side of other bedrooms for privacy. Master suite has large walk-in closet, dual sinks, walk-in shower, soaking tub and exit to backyard. Solar makes running the AC affordable! Pens for your animals and large shed for feed and supplies are included. Plenty of room for ADU, toys, workshop and parking. Many mature macadamia nut trees on property require little water. Come see this property today! You'll love it!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 3.0 | 3.0 |
| Square foot | 1,900 | 2,169 |
| Lot Size | 87,991.203 | 47,480.4 |
| Price | $905.0K | $917.5K |
| Price per sq ft | $476 | $426 |
| Built year | 1989 | 1991 |
| HOA | $0 | $176 |
| Days on market | 19 | 60 |
Jul 18, 2026
$905,000
$920,000
-2% Price Drop
Initial Listing
Jul 11, 2026
$920,000
$935,000
-2% Price Drop
Initial Listing
Jul 3, 2026
$935,000
Initial Listing
Nov 23, 2020
$630,000
Public Record
Nov 17, 2015
$469,000
Public Record