1078 Rainbow Crest Rd Fallbrook, CA 92028
Estimated payment $7,312/month
Highlights
- Ocean View
- Solar Heated In Ground Pool
- Bonus Room
- Art Studio
- Retreat
- No HOA
About This Home
Presenting an exquisite residence on the eastern edge of Fallbrook, CA, where modern sophistication meets serene countryside elegance. This stunning home, meticulously constructed in 2002, offers 1,967 sq ft of refined living space, featuring 2 bedrooms, a den used as a library that can be converted into a third bedroom, and 2 full baths with inviting bathtubs. Additionally, a separate 10x12 ADU with an upper mezzanine offers versatile usage possibilities as an art room, home office, or even an additional bedroom to cater to your lifestyle needs. Set on an expansive 1.84-acre estate, this property is a sanctuary of luxury and tranquility with breathtaking views and unparalleled privacy. Indulge in the saltwater pool, a 2022 addition complete with heating panels, and enjoy the state-of-the-art solar panel system, installed in 2023, inclusive of two Tesla Wall Batteries and a backup generator, all fully owned. The interiors exude sophistication with new flooring throughout (installed in 2021) and a recently replaced living room window (2022). Freshly painted both inside and out, the home also boasts a solar-powered electric gate, custom kitchen shade for sun protection, an upgraded ceiling fan in the living room, and chic Stikwood accent walls. Further enhancing the appeal of this exceptional property is a charming chicken coop ready for occupancy, a blossoming greenhouse, and a diverse variety of fruit trees—including orange, grapefruit, tangerine, lemon, apricot, Asian pear apple, peach, lime, dragon fruit, blackberry, pomegranate, and passion fruit—all set within a fully landscaped and fenced property for utmost privacy. At an elevation of 1,584 feet above sea level, relish the captivating ocean views and spectacular sunsets. Convenience and safety are paramount, with fire sprinklers throughout and a Culligan RO filter system in the kitchen. The dual A/C units ensure comfort, with one system cooling the bedrooms, baths, and laundry area, while another serves the front, kitchen, and living room spaces. Located just one exit away from the vibrant Temecula, enjoy an array of attractions, from shopping, wine tasting, and the annual Balloon and Wine Festival, to the historic charm of Front Street and Lake Skinner's natural beauty. Golf enthusiasts will appreciate proximity to Pala Mesa Resort and Temecula Creek Inn, while nature lovers can explore the Santa Margarita Trail Preserve, Live Oak Park, and Monserate Mountain Trail Loop. Fallbrook, renowned for its vibrant community, hosts a variety of events, from the celebrated Avocado Festival to art shows, farmers markets, and live music performances, ensuring a lively and engaging lifestyle. Experience unparalleled luxury and elegance in this exceptional Fallbrook home.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $7,258
Year Built
- Built in 2002
Lot Details
- 1.84 Acre Lot
- Rural Setting
- Drip System Landscaping
- Sprinkler System
- Garden
- Back and Front Yard
- Property is zoned AGRICULTURAL
Parking
- 2 Car Attached Garage
Property Views
- Ocean
- Coastline
- Panoramic
- Mountain
- Hills
- Pool
Home Design
- Entry on the 1st floor
Interior Spaces
- 1,967 Sq Ft Home
- 1-Story Property
- Family Room with Fireplace
- Living Room
- Home Office
- Bonus Room
- Game Room
- Art Studio
- Workshop
- Utility Room
- Laundry Room
Bedrooms and Bathrooms
- 2 Bedrooms
- Retreat
- 2 Full Bathrooms
Pool
- Solar Heated In Ground Pool
- Saltwater Pool
Farming
- Agricultural
Utilities
- Two cooling system units
- Central Air
- No Heating
- Conventional Septic
Community Details
- No Home Owners Association
- Mountainous Community
Listing and Financial Details
- Tax Tract Number 190
- Assessor Parcel Number 1092700700
- $72 per year additional tax assessments
- Seller Considering Concessions
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $7,258 | $691,201 | $312,468 | $378,733 |
| 2024 | $7,258 | $677,649 | $306,342 | $371,307 |
| 2023 | $7,089 | $664,363 | $300,336 | $364,027 |
| 2022 | $7,013 | $651,338 | $294,448 | $356,890 |
| 2021 | $6,488 | $606,215 | $288,675 | $317,540 |
| 2020 | $6,232 | $568,276 | $270,608 | $297,668 |
| 2019 | $5,999 | $557,134 | $265,302 | $291,832 |
| 2018 | $5,854 | $546,210 | $260,100 | $286,110 |
| 2017 | $5,737 | $535,500 | $255,000 | $280,500 |
| 2016 | $5,615 | $525,000 | $250,000 | $275,000 |
| 2015 | $3,680 | $344,545 | $111,004 | $233,541 |
| 2014 | $3,600 | $337,797 | $108,830 | $228,967 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/17/2025 07/17/25 | Price Changed | $1,270,000 | -2.2% | $646 / Sq Ft |
| 06/22/2025 06/22/25 | Price Changed | $1,299,000 | -3.8% | $660 / Sq Ft |
| 06/09/2025 06/09/25 | Price Changed | $1,350,000 | -6.9% | $686 / Sq Ft |
| 04/18/2025 04/18/25 | For Sale | $1,450,000 | +141.7% | $737 / Sq Ft |
| 01/22/2020 01/22/20 | Sold | $600,000 | -4.0% | $305 / Sq Ft |
| 12/23/2019 12/23/19 | Pending | -- | -- | -- |
| 09/19/2019 09/19/19 | For Sale | $625,000 | 0.0% | $318 / Sq Ft |
| 01/04/2016 01/04/16 | Rented | $2,500 | 0.0% | -- |
| 12/05/2015 12/05/15 | Under Contract | -- | -- | -- |
| 11/16/2015 11/16/15 | For Rent | $2,500 | 0.0% | -- |
| 09/09/2015 09/09/15 | Sold | $525,000 | 0.0% | $267 / Sq Ft |
| 08/11/2015 08/11/15 | Pending | -- | -- | -- |
| 07/12/2015 07/12/15 | Price Changed | $525,000 | -8.7% | $267 / Sq Ft |
| 06/03/2015 06/03/15 | For Sale | $575,000 | -- | $292 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $600,000 | Stewart Title Company | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Grant Deed | $525,000 | Equity Title | |
| Interfamily Deed Transfer | -- | None Available | |
| Grant Deed | $82,000 | Chicago Title Co |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $375,000 | New Conventional | |
| Closed | $375,000 | New Conventional | |
| Closed | $300,000 | New Conventional | |
| Closed | $300,000 | New Conventional | |
| Previous Owner | $180,000 | New Conventional | |
| Previous Owner | $40,000 | Unknown |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NDP2503614
APN: 109-270-07
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