11 Pyrite, Rancho Santa Margarita, California 92688, Rancho Santa Margarita, 92688 - 4 bed, 3 bath
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Rancho Santa Margarita, California 92688
This 4-bedroom Single Family Residence is a High-Potential Investment Opportunity, listed at $1,199,900—positioned slightly above the $1,147,845 Fair Market Value. While the home requires cosmetic updates, its Condition Rating of 4 reflects a functional, well-maintained layout featuring a Granite Kitchen and Open Great Room. Located in the desirable Melinda Heights community near Top-Rated Schools like Melinda Heights Elementary, this property offers significant long-term value. It is an ideal acquisition for Value-Add Investors or Owner-Occupants looking to build equity through personalized renovations.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 11 Pyrite Subject | $1,199,900* List Price | 4 | 3 | 1,994 | $576 | - |
A 17 Ametrine Sold | $1,238,250 | 4 | 3 | 2,000 | $619 | 0.1 mi |
B 34 Via Tronido Sold | $1,300,000 | 3 | 3 | 2,018 | $644 | 0.3 mi |
C 29 Feldspar Sold | $1,383,000 | 4 | 3 | 2,545 | $543 | 0.3 mi |
D 36 Via Brida Sold | $1,110,000 | 3 | 3 | 2,032 | $546 | 0.2 mi |
E 22 Brisa Fresca Sold | $1,275,000 | 4 | 3 | 2,152 | $592 | 0.4 mi |
F 36 Via Perico Sold | $1,430,000 | 4 | 3 | 2,141 | $668 | 0.8 mi |
G 27 Feldspar Way Sold | $1,333,000 | 6 | 3 | 2,287 | $583 | 0.3 mi |
H 9 El Morro Sold | $1,360,000 | 5 | 3 | 2,301 | $591 | 0.5 mi |
I 42 La Sordina Active | $1,449,000 List Price | 4 | 3 | 2,190 | $662 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1999, this property is over 20 years old and largely original. While the kitchen features granite countertops and stainless steel appliances, the listing explicitly notes the primary bathroom is 'mostly original' and suggests the buyer 'add your own personal style,' indicating the home is functional but dated and in need of cosmetic updates.
The property offers an outstanding value proposition with low HOA dues and no Mello-Roos, while providing access to premium RSM amenities including the Beach Club, Lagoon, and multiple Olympic-sized pools.
The home features a seamless open-concept great room and a flexible downstairs bedroom, perfectly suited for modern living, guest accommodations, or a dedicated home office.
Ideally situated in a highly desirable neighborhood, the home is within walking distance to a top-rated elementary school and minutes from the scenic hiking and biking trails of O'Neill Regional Park.
The primary bathroom is mostly in its original 1999 condition, which may require additional capital investment for buyers seeking a fully modernized aesthetic.
The property is noted as having no significant view, which may be a drawback for buyers comparing it to other homes in the area that offer mountain or canyon vistas.
Welcome to Melinda Heights, one of Rancho Santa Margarita's most desirable communities. This 4-bedroom, 2.5-bath home features an open great room floor plan where the living room, dining area, and kitchen flow together seamlessly, creating an inviting space for everyday living and entertaining. The living room features a gas fireplace, ceiling fan, in-ceiling surround sound speakers, crown molding, and a built-in wine rack with a wine refrigerator for those evenings when it's time to unwind. The kitchen offers a breakfast bar with granite countertops for casual meals, stainless steel appliances, plus a walk-in pantry. A downstairs bedroom with an adjacent powder room offers endless flexibility. It can easily become a guest room, home office, or exercise room. Upstairs, you'll find an oversized primary suite with so much space, you may have to go furniture shopping just to fill it! And when it comes to closets, you'll love having not one, but two walk-in closets. The primary bathroom features dual vanities, a soaking tub, walk-in shower, and is mostly original, giving you the opportunity to update it over time and truly make it your own. Two additional bedrooms are generously sized and each include ceiling fans, crown molding, and their own walk-in closets, perfect for growing families. A full bathroom, linen closet, and dedicated upstairs laundry room complete the second floor. Enjoy a low-maintenance yard with mature landscaping, a grassy area for kids or pets to play, and a built-in BBQ with a mounted TV that's ready for summer cookouts, birthday parties, football Sundays, or simply relaxing after a long day. A two-car garage features built-in storage cabinets, making it easy to keep seasonal decorations, sporting equipment, and everyday essentials neatly organized. Located just minutes from Melinda Heights Elementary School, Altisima Park, scenic hiking and biking trails at O'Neill Regional Park, shopping, dining, and convenient access to the 241 Toll Road. As a resident of RSM, you'll enjoy HOA amenities including four junior Olympic-sized pools, tennis, pickleball, sport courts, parks, playgrounds, and exclusive access to the Beach Club and Lagoon. If you've been dreaming of homeownership and searching for a home where you can add your own personal style over time, this home is it. Bring your ideas, make it your own, and enjoy everything this wonderful community has to offer. Low HOA dues and no Mello-Roos make this home an exceptional value.
No exterior & parking available.
Grades K-6 • 0.4 mi
Grades 7-8 • 1.4 mi
Grades 9-12 • 2.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 3.0 | 3.0 |
| Square foot | 1,994 | 2,093 |
| Lot Size | 4,185 | 5,515 |
| Price | $1.20M | $1.34M |
| Price per sq ft | $602 | $636 |
| Built year | 1999 | 1995 |
| HOA | $75.0 | $140 |
| Days on market | 15 | 50 |
Jul 7, 2026
$1,199,900
Initial Listing
Mar 24, 2011
$497,000
Public Record
Jun 2, 2010
$510,000
Public Record
Aug 18, 2005
$650,000
Public Record
Nov 24, 2003
$545,000
Public Record
Jul 22, 2003
$465,000
Public Record