5540 Rainbow Heights Rd, Fallbrook, CA 92028
SOLD
MAR 17, 2026
Listed by Blake Cory, eXp Realty of California, Inc., (888) 832-7179 . Bought with Mogul Real Estate

5540 Rainbow Heights Rd
Fallbrook, CA 92028

    $235,000

    Last Sold: Mar 17, 2026
    6% below list $250K
    Est. Refi. Payment $1,497/mo*
    Refinance Your Home

    $235,000

    Last Sold: Mar 17, 2026
    6% below list $250K
    Est. Refi. Payment $1,497/mo*
    Refinance Your Home
    (on 2.33 acres)

    Local Information

    • Map ViewExplore the area around 5540 Rainbow Heights Rd.
    • Schools1 Elementary School1 Middle School1 High School
    • Shop & Eat
    -- mins to
    Commute Destination

    Home Highlights

    Property Type
    Lot/Land
    Lot Size
    2.33 acres
    HOA
    None

    About this House

    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!
    5540 Rainbow Heights Rd, Fallbrook, CA 92028 is a lot/land. It last sold for $235,000 on Mar 17, 2026 (6% below the $249,990 asking price). It is currently off market. The Trulia Estimate rent is $3,183/month.

    Home Details for 5540 Rainbow Heights Rd

    Interior Features

    Appliances & Utilities
    Utilities: Water Connected
    View
    Has a ViewView: Mountain(s), Neighborhood

    Exterior Features

    Frontage
    Not on Waterfront
    Surface & Elevation
    Elevation Units: Feet

    Days on Market

    Cumulative Days on Market: 350

    Property Information

    Property Type / Style
    Property Type: LandProperty Subtype: Unimproved Land
    Building
    Not a New ConstructionNo Additional Parcels
    Property Information
    Parcel Number: 1026306400

    Price & Status

    Price
    List Price: $249,990
    Status Change & Dates
    Off Market Date: Fri Feb 20 2026

    Active Status

    MLS Status: Closed

    Location

    Direction & Address
    City: Fallbrook

    Community

    Community Features: CurbsNot Senior Community

    HOA

    Association for this Listing: California Regional MLS

    Lot Information

    Lot Area: 2.33 Acres

    Listing Info

    Special Conditions: Standard

    Offer

    Listing Terms: Cash, Conventional, FHA, VA Loan

    Miscellaneous

    Mls Number: SW25043279Living Area Range Units: Square FeetAttribution Contact: 951-216-3319Activation Date: Fri Mar 07 2025Common Interest: NoneStart Showing Date: Fri Mar 07 2025Universal Property Id: US-06073-N-1026306400-R-N

    Additional Information

    CurbsSource Internet Entire Listing Display
    Last check for updates: about 5 hours ago
    Listed by Blake Cory DRE #01781649, (951) 216-3319
    eXp Realty of California, Inc.
    Bridget Sisco DRE #01866045
    eXp Realty of California, Inc.
    Bought with: Elizabeth Lopez DRE #02127365, (951) 692-8475, Mogul Real Estate
    Originating MLS: California Regional MLS
    Source: CRMLS, MLS#SW25043279

    Price History for 5540 Rainbow Heights Rd

    DatePriceEventSource
    03/17/2026$235,000Sold
    CRMLS #SW25043279
    03/02/2026$249,990PendingCRMLS #SW25043279
    01/13/2026$249,990PriceChange
    CRMLS #SW25043279
    11/20/2025$249,999PriceChange
    CRMLS #SW25043279
    11/07/2025$264,990PriceChange
    CRMLS #SW25043279
    09/19/2025$264,999PriceChange
    CRMLS #SW25043279
    09/12/2025$274,900PriceChange
    CRMLS #SW25043279
    08/14/2025$274,990PriceChange
    CRMLS #SW25043279
    07/21/2025$274,999PriceChange
    CRMLS #SW25043279
    05/24/2025$299,000PriceChange
    CRMLS #SW25043279
    05/13/2025$299,900PriceChange
    CRMLS #SW25043279
    05/01/2025$299,990PriceChange
    CRMLS #SW25043279
    03/07/2025$299,999Listed For SaleCRMLS #SW25043279
    04/28/2022$230,000Sold
    N/A
    12/18/2013$75,000Sold
    N/A

    Market trends in Fallbrook

    Last updated June 2026
    Buyer'sMarketSeller'sMarket
    Avg. sale price
    $885K
    $7.33K    MoM
    Sale-to-List Price
    99.6%
    Price per sq ft
    $424
    $3    MoM
    Available listings
    251
    24    MoM
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    Property Tax and Assessment

    Year2025
    Tax$2,589
    Assessment$244,077
    Home facts updated by county records

    Comparable Sales for 5540 Rainbow Heights Rd

    Address
    Distance
    Property Type
    Sold Price
    Sold Date
    Bed
    Bath
    Sqft
    Via Ladera, Fallbrook, CA
    0.35
    Lot/Land
    $350,000
    07/21/26
    -
    -
    Huffstatler St, Fallbrook, CA
    0.72
    Lot/Land
    $175,000
    07/16/26
    -
    -
    2233 Rainbow Valley Blvd #0, Fallbrook, CA
    0.58
    Lot/Land
    $230,000
    03/06/26
    -
    -
    1313 Rice Canyon Rd, Fallbrook, CA
    0.86
    Lot/Land
    $520,000
    12/30/25
    -
    -
    Rainbow Peaks Trl #59, Fallbrook, CA
    1.13
    Lot/Land
    $160,000
    02/24/26
    -
    -
    1719 Rainbow Valley Blvd, Fallbrook, CA
    0.78
    Lot/Land
    $910,000
    05/06/26
    -
    -
    Rainbow Heights Rd, Fallbrook, CA
    1.93
    Lot/Land
    $250,000
    07/28/26
    -
    -
    9932 Gomez Creek Rd, Fallbrook, CA
    1.89
    Lot/Land
    $185,000
    11/17/25
    -
    -

    Nearby homes

    Get a sense of prices in the area by checking nearby homes.
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    Assigned Schools

    These are the assigned schools for 5540 Rainbow Heights Rd.
    View nearby schools on GreatSchools
    The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

    What Locals Say about Fallbrook

    At least 231 Trulia users voted on each feature.

    • 83 % Say car is needed

    • 81 % Say it's dog friendly

    • 79 % Say parking is easy

    • 77 % Say there's holiday spirit

    • 73 % Say yards are well-kept

    • 67 % Say it's quiet

    • 63 % Say there's wildlife

    • 59 % Say neighbors are friendly

    • 58 % Say people would walk alone at night

    • 54 % Say they plan to stay for at least 5 years

    • 53 % Say kids play outside

    • 46 % Say there are sidewalks

    • 43 % Say it's walkable to grocery stores

    • 41 % Say it's walkable to restaurants

    • 39 % Say there are community events

    • 33 % Say streets are well-lit

    Sourced by Trulia users. Learn more about our methodology.
    • 8d4sbsmkv2
      "The Avacado Festival is an event that makes our neighborhood special because we gather to buy different things such as food, clothes, walk in family, and hang out and meet new people."
      0
      Flag
    • Fallbrookusa
      "Church’s, Avocado festival. Christmas Parade, small town feel with good restaurants a town supported by military."
      0
      Flag
    • Sunshine.ecorinne
      "We don’t have many events in my neighborhood but everyone is very kind. Then neighborhood is very relaxed and Fallbrook in general is a tight community "
      0
      Flag
    • Richelle Stephens
      "Small town feel without living far from civilization. People are generally nice and are active in the community. Sometimes I wish there was more kid friendly activities but we still find fun. "
      0
      Flag
    • Bren.nunez
      "Friendly neighborhood. Quiet neighborhood. Great place to live as a transition to a house. Condos are quiet. "
      9
      Flag
    • Trulia User
      "Quiet and clean. Feels good to come he to friendly neighbors and love that outdoorsy feel. "
      0
      Flag
    • Daveandmonique
      "Avocado Festival, summer nights, fall hoedown and Christmas Parade are some area specific seasonal events in Fallbrook.events"
      3
      Flag
    • Moy R.
      "Small streets can’t handle amount of cars in the roads every single day of the week. It is very annoying to drive around this town even during the week. "
      0
      Flag
    • Jordis F.
      "Quaint rural community with friendly folk. Fallbrook has unique topography and lots of trees, and nice outdoor activities."
      0
      Flag
    • Eric
      "The commute is longer than where I lived previously but that was a trade off for other things the area had to offer"
      1
      Flag
    • Jordis F.
      "I work remotely but close access to the 15 and 76. About ten minutes to the 15 and 76, and 30 minutes to the 5"
      3
      Flag
    • Harnackeb
      "I’ve lived in this super quiet neighborhood for seven years with an amazing view and amazing friendly neighbors who always look out after another. Great community!"
      7
      Flag
    • Stephanie R.
      "Not a lot of walking areas in my neighborhood but some parks and community areas are available which is nice "
      0
      Flag
    • Rodrigo G.
      "I bought a new house at Horse Creek Ridge last year, and I love it. really nice and save neighborhood with lots of parks, walking trails and an sport park. "
      0
      Flag
    • Jordis F.
      "We have a number of Halloween events that are safe and fun for the kids. We also have other annual events like the Avocado Festival and Art Faire."
      1
      Flag
    • William R.
      "People decorate their homes for holidays. Neighborhood still developing and should bring future events."
      0
      Flag
    • Kristin K.
      "That we are all very friendly and we all help each other out when it is needed. Can’t ask for better neighbors "
      0
      Flag
    • Sonja S.
      "People are very friendly. It’s such a tranquil place to live. Central to everything with a small town feel. Love it "
      0
      Flag
    • Nancy C.
      "I see people walking with their dogs all the time. I see people exercising and going to public events. I like Fallbrook's vibe. "
      5
      Flag
    • Pcrazyfeet
      " I no loner if I did, I would be going north in the morning against traffic, so it would be 15-20 commute"
      0
      Flag
    • B1ack
      "That everyone tries to keep pets safe. If a dog gets out, most try to find the owners. There is also a community app to post information so everyone knows what’s going on around us."
      3
      Flag
    • Pcrazyfeet
      "Very rural. No public transportation. No malls, just a couple of markets. Nice restaurants. No hospital"
      1
      Flag
    • Gonza190
      "Small town. Everyone knows when you fart. Gossip girl kinda town. Schools suck, fact check me on this one. It’s true schools suck look at scores "
      5
      Flag
    • Funkyones
      "Rural area & lots of country to spread out‼️‼️ Nice homes & small town atmosphere👍👍 Lots of GREAT SCHOOLS & Football on Fridays night is the place to be.. Stay in Fallbrook to shop or travel a half an hour on Freeway North or South (City Trip) & find what ur looking for.. "
      1
      Flag
    • Jesus P.
      "Friendly small town. Not topical or California. Lots of vegetation compared to the surrounding cities. Country living feeling, with lots of ranch style homes."
      0
      Flag
    • Tyhawthorne6
      "There’s no yard in the apartments by the gate to get on base so you you have to take your dog somewhere to Poo but it’s a lovely area "
      1
      Flag
    • Kpaintermeyers
      "Convenient to the 15 freeway, short commute to Camp Pendleton. Easy option to take the old hwy 395 when the 15 backs up at commute time. "
      1
      Flag
    • Jolene
      "I moved here 2 years ago and it is my new home. Private and friendly. Family oriented with a lot of community events."
      0
      Flag
    • Brittanygraves10
      "Unsafe, unkept, no local police. Only Sheriff. A lot of unkept areas and a lot of burglaries at homes."
      3
      Flag
    • J
      "It is a great neighborhood, close to parks, and schools. The culture is unique with art shows, and festivals in the summer."
      0
      Flag
    • Fmom411
      "Great small town community near very large metros. Close enough to big box stores but also quaint with everything needed in town. People that love her, LOVE living here so pride in the town is high. Great restaurants! "
      3
      Flag
    • Dawn
      "no off leash areas are a point of contention. no off leash allowed, but some do anyway and create tension. need dog park area for them. "
      0
      Flag

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    Homes for sale near 5540 Rainbow Heights Rd

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    Off Market Homes Near 5540 Rainbow Heights Rd

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    Frequently asked questions about 5540 Rainbow Heights Rd

    • What is the price history for 5540 Rainbow Heights Rd?
      5540 Rainbow Heights Rd in Fallbrook, CA last sold for $235,000 in March 2026.
    • Is Fallbrook a buyer's or seller's market?
      Fallbrook is currently a balanced market, based on recent for-sale activity.
    • What's the median sale price in Fallbrook?
      The median sale price in Fallbrook is $885K. That is down $7.33K from the prior month.
    • What do residents say about Fallbrook?
      Residents describe Fallbrook, CA as dog-friendly, easy to park in, and well-kept. Most residents say you need a car. See recently sold homes in Fallbrook, CA.
    The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
    Based on information from California Regional Multiple Listing Service, Inc. as of 2026-08-08 07:37:51 PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information