335 Rainbow Crest Rd Fallbrook, CA 92028
Estimated payment $6,283/month
Total Views
136,477
4
Beds
4
Baths
2,895
Sq Ft
$385
Price per Sq Ft
Highlights
- Hot Property
- All Bedrooms Downstairs
- 5.86 Acre Lot
- Horse Property Unimproved
- Gated Parking
- Open Floorplan
About This Home
Investor’s dream in Rainbow! This secluded 5.86-acre estate features three detached income-producing homes with panoramic mountain and canyon views: a 2BR/2BA main house (1,527 sq ft) currently available for rent, a 1BR/1BA guest house (958 sq ft) with a 3-car garage/workshop (approx. 952 sq ft), and a charming 1BR/1BA cottage (410 sq ft) known as “The Hideaway.” All residences showcase quality craftsmanship—hardwood floors, custom cabinetry, artistic woodwork, and two with steam showers—plus unique outdoor living including a hot/cold shower. Modern upgrades include paid solar, Starlink internet, high-end appliances, and 2x6 construction. Ideal for investors seeking rental income, multigenerational living, vacation rentals, or retreat potential. A lower pad offers water, utilities, and septic access with room to add another home, maximizing upside. A rare opportunity for cash flow and future expansion in a peaceful, highly desirable location. See supplemental for rental details.
Listing Agent
Capitis Real Estate Brokerage Phone: 9516912048 License #01921896 Listed on: 10/01/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,174
Year Built
- Built in 1983
Lot Details
- 5.86 Acre Lot
- Property fronts a county road
- No Common Walls
- Rural Setting
- Partially Fenced Property
- Chain Link Fence
- Landscaped
- Paved or Partially Paved Lot
- Lot Sloped Down
- Sprinkler System
- Garden
- Front Yard
Parking
- 3 Car Direct Access Garage
- 7 Open Parking Spaces
- Parking Available
- Workshop in Garage
- Side Facing Garage
- Two Garage Doors
- Garage Door Opener
- Driveway Up Slope From Street
- Gravel Driveway
- Gated Parking
- RV Potential
Property Views
- Mountain
- Hills
- Valley
Home Design
- Triplex
- Entry on the 1st floor
- Composition Roof
Interior Spaces
- 2,895 Sq Ft Home
- 2-Story Property
- Open Floorplan
- Ceiling Fan
- Free Standing Fireplace
- Propane Fireplace
- Family Room
- Living Room with Fireplace
- Living Room with Attached Deck
- Storage
- Wood Flooring
Kitchen
- Walk-In Pantry
- Electric Oven
- Electric Range
- Dishwasher
- Fireplace in Kitchen
Bedrooms and Bathrooms
- 4 Bedrooms
- All Bedrooms Down
- 4 Bathrooms
- Fireplace in Bathroom
Laundry
- Laundry Room
- Laundry in Garage
- Dryer
- Washer
Utilities
- Forced Air Heating System
- Heating System Uses Oil
- Pellet Stove burns compressed wood to generate heat
- Tankless Water Heater
- Septic Type Unknown
Additional Features
- Living Room Balcony
- Agricultural
- Horse Property Unimproved
Listing and Financial Details
- Assessor Parcel Number 1100212000
- $403 per year additional tax assessments
- Seller Considering Concessions
Community Details
Overview
- No Home Owners Association
- 3 Buildings
- 3 Units
- Fallbrook Subdivision
Building Details
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $1,000
- Fuel Expense $600
- Insurance Expense $7,000
- Pest Control $300
- Trash Expense $480
- Water Sewer Expense $2,400
- Operating Expense $11,480
- Gross Income $7,500
- Net Operating Income $650
Map
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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 | $4,174 | $358,974 | $108,303 | $250,671 |
| 2024 | $4,174 | $351,936 | $106,180 | $245,756 |
| 2023 | $4,085 | $345,037 | $104,099 | $240,938 |
| 2022 | $3,971 | $338,272 | $102,058 | $236,214 |
| 2021 | $3,878 | $331,640 | $100,057 | $231,583 |
| 2020 | $3,885 | $328,241 | $99,032 | $229,209 |
| 2019 | $3,794 | $321,806 | $97,091 | $224,715 |
| 2018 | $3,710 | $315,497 | $95,188 | $220,309 |
| 2017 | $930 | $309,312 | $93,322 | $215,990 |
| 2016 | $3,571 | $303,248 | $91,493 | $211,755 |
| 2015 | $3,520 | $298,694 | $90,119 | $208,575 |
| 2014 | $3,451 | $292,844 | $88,354 | $204,490 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/08/2025 10/08/25 | Price Changed | $3,600 | -2.7% | $2 / Sq Ft |
| 10/01/2025 10/01/25 | For Rent | $3,700 | -- | -- |
Source: California Regional Multiple Listing Service (CRMLS)
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | -- | Accommodation/Courtesy Recordi | |
| Interfamily Deed Transfer | -- | Fidelity National Title | |
| Interfamily Deed Transfer | -- | Fidelity National Title | |
| Interfamily Deed Transfer | -- | Fidelity National Title | |
| Interfamily Deed Transfer | -- | Fidelity National Title | |
| Interfamily Deed Transfer | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $150,000 | New Conventional | |
| Previous Owner | $152,000 | Stand Alone Refi Refinance Of Original Loan |
Source: Public Records
About the Listing Agent
I am an expert residential Real Estate Agent with over 20 years experience with Capitis Real Estate in Fallbrook, North County and San Diego Country areas, providing home-buyers and sellers with professional, responsive and attentive real estate services. As seen on the Ty Hines Weekend Real Estate Show, I am dedicted to sell your home! I also provide a Boutique Property Management services which offers a more personal touch to service and dedication to your investment that large companies
Susannah's Other Listings
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: ND25229991
APN: 110-021-20
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