$235,000
SOLD MAR 17, 2026

5540 Rainbow Heights Rd Fallbrook, CA 92028

2.33 Acres
$100,858 Price per Acre
101,495 Sq Ft Lot

Recently Sold

15% Below List Price

349 Days on Market

About This Lot

As of March 2026

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!

Last Agent to Sell the Property

Blake Cory

eXp Realty of California, Inc. Brokerage Phone: 951-216-3319 License #01781649 Listed on: 03/07/2025

eXp Realty of California, Inc.

Co-Listed By

Bridget Sisco

eXp Realty of California, Inc. Brokerage Phone: 951-216-3319 License #01866045

Last Buyer's Agent

Elizabeth Lopez

Mogul Real Estate License #02127365

Property Details

Property Type

  • Land

Lot Details

  • 2.33 Acre Lot
  • Property is zoned A70

Property Views

  • Mountain
  • Neighborhood

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Tax Tract Number 4051
  • Assessor Parcel Number 1026306400
  • $80 per year additional tax assessments

Property Details

Property Type

Land

Lot Details

2.33 Acres

Listing Details

  • View: Yes
  • Zoning: A70
  • Property Type: Land
  • Parcel Number: 1026306400
  • Special Features: None
  • Property Sub Type: LotsLands

Interior Features

  • Price Per Square Foot: 2.32

Exterior Features

  • View: Mountain(s), Neighborhood

Utilities

  • Utilities: Water Connected
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 101495.00
  • Lot Size Acres: 2.3300

Multi Family

  • Lot Size Area: 101495.0000 Square Feet

Tax Info

  • Tax Census Tract: 190.02
  • Tax Tract Number: 4051
  • TaxOtherAnnualAssessmentAmount: 80.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 7, 2025
Closed on
Mar 6, 2026
Sold by
Alexander Mccann
Bought by
Mozaffari Saghar
Seller's Agent
Blake Cory
eXp Realty of California, Inc.
Buyer's Agent
Elizabeth Lopez
Mogul Real Estate
List Price
$274,999
Sold Price
$235,000
Premium/Discount to List
-$39,999
-14.55%
Views
335

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2462597.32%
Original Mortgage
$199,750
Outstanding Balance
$199,750
Interest Rate
5.49%
Mortgage Type
New Conventional
Estimated Equity
$87,921

Purchase Details

Listed on
Mar 7, 2025
Closed on
Mar 4, 2026
Sold by
Saghar Mozaffari
Bought by
Mora Scott
Seller's Agent
Blake Cory
eXp Realty of California, Inc.
Buyer's Agent
Elizabeth Lopez
Mogul Real Estate
List Price
$274,999
Sold Price
$235,000
Premium/Discount to List
-$39,999
-14.55%
Views
335

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$199,750
Outstanding Balance
$199,750
Interest Rate
5.49%
Mortgage Type
New Conventional
Estimated Equity
$87,921

Purchase Details

Closed on
Nov 20, 2013
Sold by
Legan Wanda R
Bought by
Haahr Bradley Michael

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$37,450
Interest Rate
4.13%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Nov 29, 2007
Sold by
Legan Wanda R
Bought by
Legan Wanda R

Purchase Details

Closed on
Dec 21, 1983
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Purchase History

Date Type Sale Price Title Company
Grant Deed -- Usa National Title
Grant Deed $235,000 Usa National Title
Grant Deed $75,000 Ticor Title
Interfamily Deed Transfer -- None Available
Deed $33,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $199,750 New Conventional
Previous Owner $37,450 Seller Take Back
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/17/2026 03/17/26 Sold $235,000 -6.0% --
02/20/2026 02/20/26 Pending -- -- --
01/13/2026 01/13/26 Price Changed $249,990 0.0% --
11/20/2025 11/20/25 Price Changed $249,999 -5.7% --
11/07/2025 11/07/25 Price Changed $264,990 0.0% --
09/18/2025 09/18/25 Price Changed $264,999 -3.6% --
09/12/2025 09/12/25 Price Changed $274,900 0.0% --
08/14/2025 08/14/25 Price Changed $274,990 0.0% --
07/21/2025 07/21/25 Price Changed $274,999 -8.0% --
05/24/2025 05/24/25 Price Changed $299,000 -0.3% --
05/13/2025 05/13/25 Price Changed $299,900 0.0% --
05/01/2025 05/01/25 Price Changed $299,990 0.0% --
03/07/2025 03/07/25 Price Changed $299,999 +9.1% --
03/07/2025 03/07/25 For Sale $274,999 -- --
Source: California Regional Multiple Listing Service (CRMLS)

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 $2,567 $244,077 $244,077 --
2024 $2,567 $239,292 $239,292 --
2023 $2,507 $234,600 $234,600 $0
2022 $979 $86,518 $86,518 $0
2021 $955 $84,822 $84,822 $0
2020 $959 $83,953 $83,953 $0
2019 $942 $82,307 $82,307 $0
2018 $928 $80,694 $80,694 $0
2017 $911 $79,112 $79,112 $0
2016 $1,145 $77,561 $77,561 $0
2015 $878 $76,396 $76,396 $0
2014 $861 $74,900 $74,900 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SW25043279

California Regional Multiple Listing Service (CRMLS)

APN: 102-630-64

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