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$249,990 -$9 (0%) Price Reduced

  • For Sale
  • Active
  • Lots/Land
  • 2.33 Acres
  • Updated 3 days ago
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Stunning 2.33-Acre Lot with Panoramic Views - Ready to Build! Nestled among custom homes on a paved road, this exceptional 2.33-acre parcel offers the perfect setting for your dream home. Enjoy breathtaking pastoral views, and on a clear day, catch a glimpse of the Pacific Ocean shimmering in the distance. The location strikes the perfect balance between peaceful rural living and convenient access to key destinations: •I-15 On-ramp - just 3 miles away •Temecula & Award-Winning Wineries - 5 miles •Premier Resorts & Local Gaming - 7 miles •Escondido - 24 miles •San Diego - 53 miles. The owner has invested thousands in completing a PercTest, site plans and Engineer Report for placing a 3 bedroom Manufactured home on the property (reports available for review). The property is well-equipped for development, featuring an installed water meter, electricity approximately 100 feet away, and a fire hydrant within 1,000 feet for added safety. Don't miss this incredible opportunity to build in a prime location with stunning views. Call today for more details!

Full Property Details for 5540 Rainbow Heights Rd

General

  • Price: $249,990
  • Status: Active
  • Type: Lots/Land
  • Source: MRMLS
  • MLS ID: SW25043279
  • Updated: 1/13/2026
  • Days on Market: 315 days
  • Added to Site: 315 day(s) ago

Location

  • Area: 92028 - Fallbrook
  • County: San Diego
  • Development Name: 92028 - Fallbrook
  • Driving Directions: Fr 8th St, R on Select Way

Utilities

  • Water: Public
  • Utility Description: Water Connected

Lot Features

  • Property View: Mountain(s), Neighborhood
  • Lot Size (Acres): 2.33
  • Lot Size (Sq. Ft.): 101,495
  • Lot Size Source: Assessor
  • Zoning: A70
  • Lot Description: Curbs

Financial Considerations

  • Price Per Sq. Ft.: $2.46

Listed by eXp Realty of California, Inc., Blake Cory and eXp Realty of California, Inc., Bridget Sisco

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Listing agents

— 5540 Rainbow Heights Rd —

  • Blake Cory

    eXp Realty of California, Inc.

  • Bridget Sisco

    eXp Realty of California, Inc.

951-216-3319

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 5540 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
9-127.2 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 5540 Rainbow Heights Rd Get Price Alerts and Save Property

Date
Details
Price
Change
Source
1/13/2026
Price Reduced
$249,990
—
MLS
11/20/2025
Price Reduced
$249,999
-5.66%
MLS
11/07/2025
Price Reduced
$264,990
—
MLS
9/18/2025
Price Reduced
$264,999
-3.6%
MLS
9/12/2025
Price Reduced
$274,900
-0.03%
MLS
8/14/2025
Price Reduced
$274,990
—
MLS
7/21/2025
Price Reduced
$274,999
-8.03%
MLS
5/24/2025
Price Reduced
$299,000
-0.3%
MLS
5/13/2025
Price Reduced
$299,900
-0.03%
MLS
5/01/2025
Price Reduced
$299,990
—
MLS
3/07/2025
Listed
$299,999
30.43%
MLS
3/21/2022
Sold
$230,000
—
Public Record
View All
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 5540 Rainbow Heights Rd

Year
Property Taxes
Change
Tax Assessment
Change
2025
$2,589
3%
$244,077
4%
2023
$2,506
156%
$234,600
171%
2022
$979
3%
$86,518
2%
2021
$955
—
$84,822
1%
2020
$959
2%
$83,953
2%
2019
$942
2%
$82,307
2%
2018
$928
2%
$80,694
2%
2017
$911
-20%
$79,112
2%
2016
$1,145
30%
$77,561
2%
2015
$878
2%
$76,396
2%
2014
$861
31%
$74,900
35%
2013
$655
—
$55,509
—
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 5540 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 eXp Realty of California, Inc., Blake Cory and eXp Realty of California, Inc., Bridget Sisco

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Listed and Sold by Andrea Lynn Duncan (CalRE#: 01907899)

5540 Rainbow Heights Road, Fallbrook, CA 92028 (MLS# SW25043279) is a Lots/Land property with a lot size of 2.3300 acres. 5540 Rainbow Heights Road is currently listed for $249,990 and was received on March 07, 2025. Want to learn more about 5540 Rainbow Heights Road? Do you have questions about finding other Lots/Land 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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