For sale

Price cut: $76K (9/30)

$799,000

5461 Rainbow Creek Rd, Fallbrook, CA 92028

4beds

2,000sqft

$5,373/mo

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Single Family Residence

Built in 1950

3.25 Acres Lot

$781,700 Zestimate^®

$400/sqft

$-- HOA

What's special

A Rare flat 3-acre property minutes from the I-15 Corridor: This unique property offers exceptional flexibility. Ideally located, it provides convenient access while maintaining privacy and space for all your recreational toys or work vehicles. The property is zoned residential; the residence was used as an office and could be converted back to residential use. Seeing is believing call for information.

88 days
1,332
67

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 4
Bathrooms: 1
Full bathrooms: 1

Heating

Forced Air Unit

Cooling

Central Forced Air

Appliances

Included: N/K, Electric Water Heater
Laundry: None Known

Features

Cathedral-Vaulted Ceiling
Flooring: Laminate

Interior area

Total structure area: 2,000
Total interior livable area: 2,000 sqft

Video & virtual tour

View virtual tour

Property

Parking

Total spaces: 20
Parking features: Gated

Accessibility

Accessibility features: 2+ Access Exits

Features

Levels: 1 Story
Patio & porch: Slab, Patio Open
Pool features: N/K
Fencing: Full

Lot

Size: 3.25 Acres

Details

Additional structures: Shed
Parcel number: 10224007,08,09

Construction

Type & style

Home type: SingleFamily
Architectural style: Contemporary
Property subtype: Single Family Residence

Materials

Stucco, Wood
Roof: Composition,Shingle

Condition

Additions/Alterations
Year built: 1950

Utilities & green energy

Sewer: Septic Installed
Water: Meter on Property
Utilities for property: Electricity Connected, Propane, Water Connected

Community & HOA

Community

Subdivision: FALLBROOK

Location

Region: Fallbrook

Financial & listing details

Price per square foot: $400/sqft
Tax assessed value: $536,610
Date on market: 8/3/2026
Listing terms: Cash,Conventional,Lease Option
Electric utility on property: Yes

Estimated market value

$781,700

$743,000 - $821,000

$3,411/mo

Price history

Date	Event	Price
9/30/2026	Price change	$799,000-8.7%$400/sqft
Source: SDMLS #260018939 Report a problem
8/3/2026	Listed for sale	$875,000-12.4%$438/sqft
Source: SDMLS #260018939 Report a problem
6/30/2026	Listing removed	$999,000$500/sqft
Source: SDMLS #260006735 Report a problem
3/22/2026	Listed for sale	$999,000+640%$500/sqft
Source: SDMLS #260006735 Report a problem
11/6/2022	Listing removed	--
Source: Zillow Rental Manager Report a problem
10/6/2022	Listed for rent	$7,000$4/sqft
Source: Zillow Rental Manager Report a problem
6/8/2000	Sold	$135,000$68/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2026	--	$536,610 +2%
2025	$5,508 +1.8%	$526,090 +2%
2024	$5,409 +2.5%	$515,775 +2%
2023	$5,278 +1.4%	$505,663 +2%
2022	$5,204 +17.3%	$495,749 +16.6%
2021	$4,436 +7.3%	$425,000 +9%
2020	$4,134 +3.7%	$390,000 +2.6%
2019	$3,985 +7%	$380,000 +8.6%
2018	$3,726 +3%	$350,000 +2.9%
2017	$3,619 +6.6%	$340,000 +6.3%
2016	$3,395 +18.3%	$320,000 +18.5%
2015	$2,869 +8.1%	$270,000 +8%
2014	$2,654	$250,000 +23.8%
2013	--	$202,000
2012	--	$202,000 -12.2%
2011	--	$230,000 +35.3%
2010	--	$170,000 -51.4%
2009	--	$350,000 -12.6%
2008	--	$400,554 +2%
2007	--	$392,700