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$749,000 Just Listed

  • For Sale
  • Active
  • Single Family
  • 1 Bed
  • 1 Full Bath
  • 888 Sq. Ft.
  • Updated 3 days ago
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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.

Full Property Details for 5521 Rainbow Heights Rd

General

  • Price: $749,000
  • Status: Active
  • Type: Single Family
  • Source: MRMLS
  • MLS ID: V1-39305
  • Updated: 10/16/2026
  • Days on Market: 4 days
  • Added to Site: 4 day(s) ago

Interior

  • Rooms/Areas: Walk-In Closet, Laundry, Kitchen, Living Room, Main Floor Bedroom
  • Interior Features: Crown Molding, Ceiling Fan(s), Living Room Deck Attached, Open Floorplan
  • Fireplace(s): None
  • Eating Areas: Dining Room
  • Appliances: Microwave, Refrigerator, Tankless Water Heater, Dishwasher, Gas & Electric Range
  • Flooring: Tile

Rooms

Bathrooms

  • Total Bathrooms: 1
  • Full Bathrooms: 1

Bedrooms

  • Total Bedrooms: 1

Other Rooms

  • Laundry: Inside, See Remarks

Additional Information

  • Pool Description: None
  • Spa Description: None

Exterior

  • Deck/Patio: Deck

Parking

  • Parking: Asphalt, Driveway

Location

  • County: San Diego
  • Driving Directions: Traveling southbound on I-15/ Exit 54 Rainbow Valley Blvd./ Turn Left, crossing over freeway/ Turn Left at 2nd Stop-Sign staying on Rainbow Valley Blvd/ Turn Left on Eighth St/ Turn Left onto Rainbow Heights Rd./ *Turn Left onto Select Way.
  • Direction Faces: West

School Information

  • Elementary School: FALLBR

Community

  • Community Features: Mountainous

Heating & Cooling

  • Cooling Type: Central Air
  • Heating Type: Propane

Utilities

  • Sewer: Conventional Septic
  • Water: Public

Structural Information

  • Structure Type: Single Family Residence
  • Foundation: Pillar/Post/Pier
  • Common Walls: No Common Walls
  • Windows: Drapes, Blinds
  • Doors: ENERGY STAR Qualified Doors, French Doors, Sliding Doors, Double-Door Entry
  • Disability Access: 2 or More Accessible Exits
  • Stories/Levels: One
  • Stories Description: One
  • Square Feet: 888
  • Sq. Ft. Source: Estimated
  • Year Built: 2015
  • Year Built Source: Public Records
  • Property Condition: Turnkey

Additional Structures

  • Other Structures: Storage, Shed(s)

Lot Features

  • Property View: Ocean, Mountain(s), Trees/Woods, Rocks, Hills, Canyon, Panoramic
  • Lot Size (Acres): 1.95
  • Lot Size (Sq. Ft.): 84,942
  • Lot Size Source: Public Records
  • Irrigation System: Sprinkler System
  • Fencing (Description): None

Financial Considerations

  • Price Per Sq. Ft.: $843.47

Disclosures and Reports

  • Special Conditions: Real Estate Owned
  • Bank-owned: Yes

Listed by My Realty Company, Inc., Omar Ortiz

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Listing agent

— 5521 Rainbow Heights Rd —

  • Omar Ortiz

    My Realty Company, Inc.

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 5521 Rainbow Heights Rd

School Districts:Vallecitos Elementary School District, Fallbrook Union High School District
NameGradesDistance
Vallecitos Elementary School
5211 Fifth St., Rainbow, CA 92028
PK-80.7 mi
Fallbrook High School
2400 South Stage Coach Lane, Fallbrook, CA 92028
9-127.1 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 5521 Rainbow Heights Rd Get Price Alerts and Save Property

Date
Details
Price
Change
Source
10/15/2026
Listed
$749,000
1564.44%
MLS
10/31/2023
Sold
$45,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 5521 Rainbow Heights Rd

Year
Property Taxes
Change
Tax Assessment
Change
2025
$7,501
5%
$730,360
2%
2024
$7,127
20%
$716,040
26%
2023
$5,931
1%
$566,099
2%
2022
$5,848
26%
$555,000
24%
2021
$4,632
—
$448,294
1%
2020
$4,652
2%
$443,699
2%
2019
$4,562
54%
$435,000
55%
2018
$2,955
2%
$280,961
2%
2017
$2,895
2%
$275,453
2%
2016
$2,826
3%
$270,053
3%
2015
$2,740
135%
$261,997
149%
2014
$1,164
1%
$105,110
—
2013
$1,155
—
$104,635
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 5521 Rainbow Heights Rd

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Listed by My Realty Company, Inc., Omar Ortiz

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5521 Rainbow Heights Road, Fallbrook, CA 92028 (MLS# V1-39305) is a Single Family property with 1 bedroom and 1 full bathroom. 5521 Rainbow Heights Road is currently listed for $749,000 and was received on October 15, 2026. Want to learn more about 5521 Rainbow Heights Road? Do you have questions about finding other Single Family real estate for sale in Fallbrook? You can browse all Fallbrook real estate or contact a Coldwell Banker agent to request more information.

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