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$699,999 Just Listed

  • For Sale
  • Active
  • Single Family
  • 3 Beds
  • 2 Full Baths
  • 1,728 Sq. Ft.
  • Updated 5 days ago

Listed By: BILLY. SCOTT | Real Broker | (541) 619-1632 and LAUREN. JOINES | Real Broker | (971) 599-8684 | Cell: 541-619-1632

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Fully updated single story home and horse property on 9.4 acres of pasture, offering 3 bedrooms, 2 bathrooms, and 1,728 sqft with a partially finished basement. Recent updates include new roof, new interior and exterior paint, new vinyl plank flooring, new carpet, and fully updated kitchen and bathrooms. Interior features include built in bookshelves, a large laundry room, and a electric fireplace in the living room. Step outside to a covered deck and wrap around porch with beautiful views, perfect for enjoying peaceful country surroundings. The property includes a 60x36 insulated shop and barn, is fully fenced and landscaped, and offers plenty of room for animals, hobbies, and RV or boat storage. Additional upgrades include updated PEX plumbing and a 1500+ gallon water tank. A great opportunity for turnkey country living just minutes from town. Schedule your showing today!

Full Property Details for 40235 Rainbow Dr

General

  • Price: $699,999
  • Taxes: $4,556 (2025)
  • Status: Active
  • Type: Single Family
  • Source: WVMLS
  • MLS ID: 840108
  • Updated: 4/30/2026
  • Added to Site: 5 day(s) ago

Interior

  • Flooring: Carpet, Luxury Vinyl Plank

Rooms

Bathrooms

  • Total Bathrooms: 2
  • Full Bathrooms: 2

Bedrooms

  • Total Bedrooms: 3

Parking

  • Garage Description: None

Location

  • County: LINN COUNTY
  • Driving Directions: Head E on Hwy 20 to Hwy 226 - right on Fish Hatchery Rd - right on Richardson Gap Rd - Left Rainbow Dr - Home is down toward the end on the left

School Information

  • Elementary School: Centennial
  • Middle School: Scio
  • High School: Scio

Heating & Cooling

  • Heating/Cooling: Window Unit (AC), Baseboard
  • Water Heater: Electric

Utilities

  • Water: Well

Structural Information

  • Basement Desc.: Daylight, Partial
  • Roof: Composition
  • Square Feet: 1,728
  • Year Built: 1970

Lot Features

  • Lot Size (Acres): 9.4
  • Lot Size (Sq. Ft.): 409,464
  • Zoning: RR5
  • Lot Description: 1

Financial Considerations

  • Price Per Sq. Ft.: $405.09
  • Price Per Acre: $74,467.98
  • Assessment Year: 1970
  • Tax Amount: $4,556
  • Tax Year: 2025

Disclosures and Reports

  • Lot Number: 1

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NMLS#: 1598647

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Schools serving 40235 Rainbow Dr

School District:Lebanon Community School District 9
NameGradesDistance
Lacomb School
34110 East Lacomb Road, Lebanon, OR 97355
K-84 mi
Lebanon High School
1700 South 5th Street, Lebanon, OR 97355
9-128.8 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 40235 Rainbow Dr Get Price Alerts and Save Property

Date
Details
Price
Change
Source
4/30/2026
Listed
$699,999
150%
MLS
2/01/2012
Sold
$280,000
—
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 40235 Rainbow Dr

Year
Property Taxes
Change
Tax Assessment
Change
2025
$4,557
5%
$328,960
5%
2024
$4,350
3%
$312,620
3%
2023
$4,234
6%
$303,520
6%
2021
$3,976
-4%
$286,100
-3%
2022
$4,144
4%
$294,680
6%
2021
$3,976
3%
$277,770
3%
2019
$3,847
-48%
$269,680
3%
2018
$7,460
103%
$261,830
3%
2017
$3,674
2%
$254,210
3%
2016
$3,591
3%
$246,810
3%
2015
$3,471
2%
$239,630
3%
2014
$3,402
66%
$232,660
63%
2013
$2,045
—
$142,790
—
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.

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Just Listed near 40235 Rainbow Dr

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2239 Steiwer Rd SE, Jefferson, OR 97362 - Photo 1 Just Listed
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2239 Steiwer Rd SE  Jefferson, OR 97362

  • Single Family
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  • 3
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15361 Nxt To Jefferson Hwy, Jefferson, OR 97352 - Photo 1 Just Listed
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15361 Jefferson Hwy 99E(Next To) SE, Jefferson, OR 97352 - Photo 1 Just Listed
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15361 Jefferson Hwy 99E(Next To) SE  Jefferson, OR 97352

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15361 Jefferson Hwy 99E SE, Jefferson, OR 97352 - Photo 1 Just Listed
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15361 Jefferson Hwy 99E SE  Jefferson, OR 97352

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Listed by Keller Williams Realty Mid-Willamette, Paul J Terjeson

Price Reduced near 40235 Rainbow Dr

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778 E Jefferson St, Stayton, OR 97383 - Photo 1 Price Reduced
-$24,900 (-2.77%)
$875,000

778 E Jefferson St  Stayton, OR 97383

  • Multi-Family
  • Active
  • Updated 3 days ago
Listed by SimpliHOM, Christy Cordova
15785 Coon Hollow Rd SE, Stayton, OR 97383 - Photo 1 Price Reduced
-$20,000 (-2.01%)
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15785 Coon Hollow Rd SE  Stayton, OR 97383

  • Single Family
  • Active
  • Updated 4 days ago
  • 3
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  • 2
    Total Baths
  • 2,268
    Sq. Ft.
Listed By: ARIELLE. HERNANDEZ | Sundance Realty Llc
545 NE Overlook Way, Sublimity, OR 97385 - Photo 1 Price Reduced
-$10,000 (-1.61%)
$610,000

545 NE Overlook Way  Sublimity, OR 97385

  • Single Family
  • Active
  • Updated 6 days ago
  • 3
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Listed By: BRANDON. LAO | Homesmart Realty Group
424 13th St, Aumsville, OR 97325 - Photo 1 Price Reduced
-$5,000 (-1.01%)
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424 13th St  Aumsville, OR 97325

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Listed By: DAMONIAN. PIKE | Berkshire Hathaway Homeservices R E Prof

Recent Sales near 40235 Rainbow Dr

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38160 Franklin Butte Rd, Scio, OR 97374 - Photo 1 Sold
$595,000

38160 Franklin Butte Rd  Scio, OR 97374

  • Single Family
  • Sold
  • 3
    Beds
  • 2
    Total Baths
  • 1,491
    Sq. Ft.
Listed by Real Broker, Josh Scott
Sold by Non Rmls Broker, OR and WA Non Rmls
38160 Franklin Butte Bl, Scio, OR 97392 - Photo 1 Sold
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38160 Franklin Butte Bl  Scio, OR 97392

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  • Closed
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    Total Baths
  • 1,491
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Listed By: JOSH. SCOTT | Real Broker
Sold by MIELI. HANSEN | Bst Realty, Llc
40104 Stayton Scio Rd, Scio, OR 97374 - Photo 1 Sold
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40104 Stayton Scio Rd  Scio, OR 97374

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    Sq. Ft.
Listed by Matin Real Estate, Jordan Matin and Matin Real Estate, Paris Vollstedt
Sold by MORE Realty, Victoria Hudson
40104 Stayton Scio Rd, Scio, OR 97374 - Photo 1 Sold
$633,000

40104 Stayton Scio Rd  Scio, OR 97374

  • Manufactured Home
  • Closed
  • 3
    Beds
  • 2
    Total Baths
  • 1,836
    Sq. Ft.
Listed By: JORDAN. MATIN | Matin Real Estate
Sold by NOM. NON-MEMBER SALE | Non-Member Sale

40235 Rainbow Dr, Scio, OR 97374 (MLS# 840108) is a Single Family property with 3 bedrooms and 2 full bathrooms. 40235 Rainbow Dr is currently listed for $699,999 and was received on April 30, 2026. Want to learn more about 40235 Rainbow Dr? Do you have questions about finding other Single Family real estate for sale in Scio? You can browse all Scio real estate or contact a Coldwell Banker agent to request more information.

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