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For sale
    • Listing Provided by: Coldwell Banker Realty
    $929,900

    1239 Rainbow Valley Blvd, Fallbrook, CA 92028

    3beds
    1,817sqft
    : 
    Single Family Residence
    Built in 1887
    2.15 Acres Lot
    $916,800 Zestimate®
    $512/sqft
    $-- HOA

    What's special

    Huge fireplaceBeautiful hardwood flooring
    BACK ON THE MARKET!!! Original Wine Country Schoolhouse. Very special and unique Country property just minutes from Old Town Temecula. Two plus gentle oak studded acres featuring “The Old Vallecitos School House” converted to a three bedroom plus loft, two bathrooms. The renovated Schoolhouse was built in 1887 and was used as such until it was moved onto this property in the 1950's. Beautiful hardwood flooring, a huge fireplace and recently opened up original windows are charming touches to the original first floor. Upstairs the bedrooms have knotty pine flooring and old slat windows. There is a full bedroom and bath downstairs. The home has new drywall, fresh interior and new exterior "Victorian" paint and all of the wood flooring has been refinished. Propane has been added and so have heating and A/C. New Roof in 2025 plus home was recently tented and all termite work completed. Both bathrooms have been completely remodeled and kitchen has been updated with new sink, faucet and countertops. Outside beautiful natural landscape on gentle fertile land perfect for gardening. There is a large metal barn/workshop and a one horse old wood barn. Enjoy the charming setting while being only minutes to everything Temecula and Fallbrook have to offer including 60+ wineries within 20 minutes! Only .4 mile to Rainbow Oaks Restaurant and gas station.
    54 days
    |
    259
    |
    14
    |

    Zillow last checked: 7 hours ago

    Listing updated: April 09, 2026 at 08:11pm

    Listing Provided by:

    Mary Beth Buckles DRE #01165545 949-230-5887,

    Coldwell Banker Realty

    Source: CRMLS,MLS#: OC26034413MLS LogoOriginating MLS: California Regional MLS

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      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 3
      • Bathrooms: 2
      • Full bathrooms: 2
      • Main level bathrooms: 1
      • Main level bedrooms: 1
      Rooms
      • Room types: Bedroom, Center Hall, Family Room, Kitchen, Primary Bedroom, Dining Room
      Primary bedroom
      • Features: Main Level Primary
      Bedroom
      • Features: Bedroom on Main Level
      Kitchen
      • Features: Pots & Pan Drawers
      Kitchen
      • Features: Galley Kitchen
      Heating
      • Electric, Fireplace(s), Wood, Zoned
      Cooling
      • Central Air, Electric, Zoned
      Appliances
      • Included: Gas Oven, Gas Range, Propane Oven, Refrigerator, Tankless Water Heater, Dryer, Washer
      • Laundry: In Carport
      Features
      • Breakfast Area, Separate/Formal Dining Room, High Ceilings, Two Story Ceilings, Bedroom on Main Level, Galley Kitchen, Main Level Primary
      • Flooring: Tile, Wood
      • Has fireplace: Yes
      • Fireplace features: Living Room, Wood Burning
      • Common walls with other units/homes: No Common Walls
      Interior area
      • Total interior livable area: 1,817 sqft

      Property

      Parking
      • Total spaces: 2
      • Parking features: Carport
      • Carport spaces: 2
      Features
      • Levels: Two
      • Stories: 2
      • Entry location: up 4 steps
      • Patio & porch: Rear Porch, Covered
      • Pool features: None
      • Fencing: Chain Link
      • Has view: Yes
      • View description: Hills, Neighborhood, Orchard, Panoramic, Rocks, Trees/Woods
      Lot
      • Size: 2.15 Acres
      • Features: Agricultural, Back Yard, Front Yard, Garden, Horse Property, Lot Over 40000 Sqft, Level, Rectangular Lot, Secluded
      Details
      • Parcel number: 1026600700
      • Special conditions: Standard
      • Horses can be raised: Yes

      Construction

      Type & style
      • Home type: SingleFamily
      • Architectural style: Craftsman
      • Property subtype: Single Family Residence
      Condition
      • Updated/Remodeled
      • New construction: No
      • Year built: 1887

      Utilities & green energy

      • Sewer: Septic Tank
      • Water: Public
      • Utilities for property: Propane

      Community & HOA

      Community
      • Features: Valley
      • Subdivision: Fallbrook
      HOA
      • HOA name: None
      Location
      • Region: Fallbrook

      Financial & listing details

      • Price per square foot: $512/sqft
      • Tax assessed value: $414,322
      • Annual tax amount: $4,366
      • Date on market: 2/15/2026
      • Cumulative days on market: 55 days
      • Listing terms: Cash to New Loan,Conventional,1031 Exchange,Owner May Carry
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        Estimated market value

        $916,800

        $871,000 - $963,000

        $3,824/mo

        Price history

        Price history
        DateEventPrice
        4/9/2026Listed for sale$929,900$512/sqft
        Source: CRMLS #OC26034413 Report a problem
        3/8/2026Contingent$929,900$512/sqft
        Source: CRMLS #OC26034413 Report a problem
        2/15/2026Listed for sale$929,900+165.7%$512/sqft
        Source: CRMLS #OC26034413 Report a problem
        2/10/2026Listed for rent$5,000+11.1%$3/sqft
        Source: CRMLS #OC26030305 Report a problem
        8/26/2024Listing removed$4,500$2/sqft
        Source: CRMLS #OC24002976 Report a problem
        2/12/2024Listed for rent$4,500$2/sqft
        Source: CRMLS #OC24002976 Report a problem
        2/12/2024Listing removed--
        Source: Zillow Rentals Report a problem
        1/5/2024Listed for rent$4,500+60.7%$2/sqft
        Source: Zillow Rentals Report a problem
        2/13/2020Listing removed$2,800$2/sqft
        Source: Coldwell Banker Realty - Laguna Beach #OC19284588 Report a problem
        12/22/2019Listed for rent$2,800$2/sqft
        Source: Coldwell Banker Res. Brokerage #OC19284588 Report a problem
        7/15/2019Listing removed$2,800$2/sqft
        Source: Coldwell Banker Res. Brokerage #OC19009843 Report a problem
        2/25/2019Price change$2,800-24.3%$2/sqft
        Source: Coldwell Banker Residential Brokerage - Laguna Beach #OC19009843 Report a problem
        1/14/2019Listed for rent$3,700+15.6%$2/sqft
        Source: Coldwell Banker Residential Brokerage - Laguna Beach #OC19009843 Report a problem
        5/20/2018Listing removed$3,200$2/sqft
        Source: Coldwell Banker Residential Brokerage - Laguna Beach #OC17261003 Report a problem
        5/3/2018Price change$3,200-19.9%$2/sqft
        Source: Coldwell Banker Residential Brokerage - Laguna Beach #OC17261003 Report a problem
        4/2/2018Price change$3,995-11.2%$2/sqft
        Source: Coldwell Banker Residential Brokerage - Laguna Beach #OC17261003 Report a problem
        12/11/2017Price change$4,500+12.5%$2/sqft
        Source: Coldwell Banker Residential Brokerage - Laguna Beach #OC17261003 Report a problem
        11/18/2017Listed for rent$4,000$2/sqft
        Source: Coldwell Banker Res. Brokerage #OC17261003 Report a problem
        11/25/2015Sold$350,000$193/sqft
        Source: Public Record Report a problem
        10/17/2015Pending sale$350,000$193/sqft
        Source: Rancon Real Estate #SW15167171 Report a problem
        10/12/2015Price change$350,000-12.5%$193/sqft
        Source: Rancon Real Estate #SW15167171 Report a problem
        9/1/2015Price change$399,990-10.9%$220/sqft
        Source: Rancon Real Estate #SW15167171 Report a problem
        8/19/2015Price change$449,000-5.5%$247/sqft
        Source: Rancon Real Estate #SW15167171 Report a problem
        7/30/2015Listed for sale$475,000$261/sqft
        Source: Rancon Real Estate #SW15167171 Report a problem

        Public tax history

        Public tax history
        YearProperty taxesTax assessment
        2025$4,366 +1.4%$414,322 +2%
        2024$4,305 +2.5%$406,199 +2%
        2023$4,201 +1.4%$398,235 +2%
        2022$4,142 +2.7%$390,427 +2%
        2021$4,034 -0.4%$382,773 +1%
        2020$4,052 +4%$378,849 +2%
        2019$3,895 -0.4%$371,422 +2%
        2018$3,910 +2%$364,140 +2%
        2017$3,832 +2.4%$357,000 +2%
        2016$3,743 +81.5%$350,000 +84.5%
        2015$2,062 +406.7%$189,681 +391.5%
        2014$407 $38,593 +0.5%
        2013-- $38,420 +2%
        2012-- $37,668 +2%
        2011-- $36,930 +0.8%
        2010-- $36,655 -0.2%
        2009-- $36,743 +2%
        2008-- $36,023 +2%
        2007-- $35,317 +2%
        2006-- $34,625 +2%
        2005-- $33,947 +2%
        2004-- $33,283 +1.9%
        2003-- $32,674 +2%
        2002-- $32,034 +2%
        2001-- $31,407

        Find assessor info on the county website

        Monthly payment

        Est. payment
        $5,446/mo
        Principal & interest
        $4539
        Property taxes
        $907
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          Climate risks

          Neighborhood: 92028

          Getting around

          16 / 100
          Car-Dependent
          16 / 100
          Somewhat Bikeable

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