2005 07 Camino Rainbow
Fallbrook, CA, 92028 $ 1,150,000
Bedrooms-- Baths1.0 Sq 1,920 Monthly Estimate*
$ 7,943
Listed by Erick Ciprian, Premier Agency R.E. Inc, ciprianhomes@gmail.com
for $1,150,000 with 1 full bath. This 1,920 square foot home was built in 1970 on a lot size of 0.0441.
Beautifully renovated duplex situated on a spacious lot in the desirable Rainbow/Fallbrook community, offering an exceptional opportunity for investors, owner-occupants, or multigenerational living. Both residences have undergone extensive renovations with thoughtful updates throughout, creating a clean, modern, turnkey property that reflects exceptional pride of ownership. Improvements include new flooring, windows, upgraded kitchens with modern countertops and custom islands, remodeled bathrooms, updated fixtures, sinks, faucets, tile work, recessed lighting, Wi-Fi-enabled mini-split heating and cooling systems, smart-home features, landscaping, fencing, and independent updated electrical panels for each residence. Each unit offers comfortable and functional living spaces with modern finishes throughout. The expansive lot has been improved and graded, providing generous outdoor space and exciting possibilities for future expansion. The property may offer potential for adding an ADU and Junior ADU, creating an opportunity for additional living space, multigenerational use, or future rental income. Additional possibilities may include ranch or equestrian use, hobby farming, or other improvements. All future development and uses are subject to applicable County requirements, zoning, permits, and buyer verification. Conveniently located just minutes from Interstate 15, the property offers the privacy and space of country living while maintaining easy access to Fallbrook, Temecula, and surrounding North County communities. A rare opportunity to own a beautifully remodeled, income-producing two-home property offering modern amenities, usable land, flexibility, and exciting future potential. Live in one and rent the other, create a multigenerational compound, explore the potential for an ADU and JR ADU, or add this unique property to your investment portfolio.
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FeaturesGeneralSewer Public Sewer
Cooling Central Air ENERGY STAR Qualified Equipment
Appliances Gas Oven Gas Range Microwave Refrigerator
Zoning R-1
HOA Fee 0
Garage Spaces 0
Pool Features None
Construction Materials Frame Hardboard
Year Built 1970
Property Subtype Duplex
Gross Income 65400
Community Features Curbs Foothills Rural Sidewalks
County San Diego
Net Operating Income 61900
Operating Expense 3500
Insurance Expense 0
New Construction false
Property Type Residential Income
HOA false
Garage Y/N false
Special Listing Conditions Standard
Status Active
Buyer Financing Cash to Loan Conventional FHA VA
Directions GPS
City Fallbrook
Entry Location Main Entry
Senior Community Y/N false
Open Parking Spaces 6
Number Of Units Total 2
MLS Area 92028 - Fallbrook
Lot Size Units Square Feet
Lot Size Square Feet 1920
Listing Terms Cash Conventional VA Loan
Property Attached Y/N true
Land Lease Y/N false
Current Financing Conventional FHA Government Loan None VA
Trash Expense 0
Water Sewer Expense 0
Rent Control Y/N false
Virtual Tour https://www.propertypanorama.com/instaview/crmls/PTP2607291
Building Area Units Square Feet
Standard Status Active
Year Built Source Assessor
Tax Lot 93005
Property Sub Type Additional Duplex
Taxes 0
Cap Rate 5.38
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InteriorTotal Stories 1
Common Walls 1 Common Wall
Air Conditioning Y/N true
Heating Y/N false
Fireplace Y/N false
Laundry Features Laundry Closet
Entry Level 1
Total Baths 0
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ExteriorLot Features 0-1 Unit/Acre
Total Parking 6
Lot Size Area 1920
Number of Buildings 2
Spa false
Building Area Total 1920
Lot Size Acres 0.0441
Private Pool false
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 2
Number of Separate Electric Meters 2
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* Excluded FeaturesList ByErick CiprianListing Agent
Premier Agency R.E. IncBroker
ciprianhomes@gmail.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $7,943
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Fallbrook, CA
Average List Price $2,685,000
Percent of Sale Price 133%
About Fallbrook, CA 33,184 Population
14% Since 2002
$ 57,009 Median Income
35.56 Median Age
31% Households with Children
Trends Information provided by ATTOM Data Solutions.
4827338 Elementary School
4827337 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 9/27/2026 | $1,150,000 | | Listed Price |