$749,000For sale
5521 Rainbow Heights Road
Fallbrook, CA 92028 · MLS# V1-39305
Listing courtesy of My Realty Company, Inc.- 1Beds
- 1Baths
- 888Sq Ft
- 2015Year Built
About This Home
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.
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Property at a Glance: 5521 Rainbow Heights Road
This single family residence property at 5521 Rainbow Heights Road, Fallbrook, CA 92028 is for sale at $749,000. The home has 1 bedroom, 1 bathroom and 888 square feet of living space. It was built in 2015 and sits on a lot of 1.95 acres. That comes to about $843 per square foot. Reach out to set up a showing or ask for more details about this home.
Snapshot
- Status
- For sale
- Price
- $749,000
- Bedrooms
- 1
- Bathrooms
- 1
- Full Baths
- 1
- Property Type
- Single Family Residence
- Year Built
- 2015
- Square Feet
- 888
- Lot Size
- 1.95 acres
- Days on Market
- 1
- MLS #
- V1-39305
- Price per Sq Ft
- $843
- County
- San Diego
Nearby Schools
- Elementary SchoolFallbrook
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Call now about 5521 Rainbow Heights Road and ask about showings, availability, or offer timing.
Property Details
Building
Land
Money
Rooms
Structures
Systems
Living in Fallbrook, CA
5521 Rainbow Heights Road is in Fallbrook, CA, in San Diego County. It is served by Fallbrook. Ask Brad & Karen Mattonen about other homes for sale in Fallbrook and what nearby homes have sold for.
Location
5521 Rainbow Heights Road, Fallbrook, CA 92028 Open in Google Maps
Mortgage Calculator
Principal and interest only. Taxes, insurance and HOA dues are extra.
Brad & Karen Mattonen Can Answer Your Questions About This Home
Why Work With Brad & Karen Mattonen?
Buying a home in Fallbrook, CA goes better with a local agent on your side. Brad & Karen Mattonen can set up private showings, pull the latest numbers for the area, and guide you through the offer and the closing. Call 18585182875 to get started. Whether 5521 Rainbow Heights Road is the one or you would like to see other homes nearby, reach out any time.
Local facts
Facts and context beyond the MLS description
What the numbers say about 5521 Rainbow Heights Road and the Fallbrook area around it.
Current market context
How this home compares in Fallbrook
- $843This home per sq ft
- $572Median per sq ft
- 6Homes for sale like it
- 23Average days on market
At $843 per square foot, 5521 Rainbow Heights Road is priced about 47% above the $572 median for 1 bedroom homes for sale in Fallbrook now.
Nearby sold homes
Recent sold homes near this property
Homes that sold within 1.25 miles of 5521 Rainbow Heights Road in the last 6 months, at a median price of $750,000.
| Address | Sold | Home | Sold price | Distance |
|---|---|---|---|---|
| 5505 Rainbow Heights Road | Sep 1, 2026 | 3 bd · 2 ba · 1,400 sqft | $650,000 | 0.1 mi |
| 5434 Rainbow Heights Road | Aug 31, 2026 | 3 bd · 3 ba · 1,900 sqft | $890,000 | 0.3 mi |
| 2005 07 Camino Rainbow | Jun 12, 2026 | 4 bd · 2 ba · 1,920 sqft | $750,000 | 0.4 mi |
| 2005 07 Camino Rainbow | Jun 12, 2026 | 0 bd · 0 ba · 0 sqft | $750,000 | 0.4 mi |
| 1991 Via Ladera | Aug 28, 2026 | 3 bd · 3 ba · 2,498 sqft | $1,200,000 | 0.5 mi |
| 2362 Huffstatler Street | Jun 29, 2026 | 4 bd · 4 ba · 4,581 sqft | $725,000 | 1 mi |
| 6051 Rainbow Heights | Sep 21, 2026 | 2 bd · 2 ba · 1,260 sqft | $745,000 | 1.2 mi |
Every home is different. Ask for a full price review before you make an offer.
Listing timeline
Price and status history
| Date | Event | Price |
|---|---|---|
| Oct 16, 2026 | Active | $749,000 |
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