139 Melrose Drive, Mission Viejo, California 92692, Mission Viejo, 92692 - 3 bed, 3 bath
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Mission Viejo, California 92692
This Turnkey Single Family Residence is a Strong Value Opportunity, listed at $1,165,000—positioned well below the $1,263,924 Fair Market Value by 7%. This valuation gap offers $98,924 in Instant Equity for the buyer. Boasting a Condition Rating of 2, the home features extensive upgrades including PEX re-piping and a new HVAC. With access to Top-Rated Capistrano Unified schools and Mission Viejo Lake, this property is an ideal sanctuary for growing families or owner-occupants seeking a move-in ready lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 139 Melrose Drive Subject | $1,165,000* List Price | 3 | 3 | 1,754 | $721 | - |
A 25272 Fairgreen Sold | $1,275,000 | 3 | 3 | 1,776 | $718 | 0.6 mi |
B 27221 Delemos Sold | $1,325,000 | 3 | 2 | 1,764 | $751 | 0.9 mi |
C 8 Rosings Sold | $1,395,000 | 4 | 3 | 1,823 | $765 | 0.2 mi |
D 26141 Buscador Sold | $1,335,000 | 3 | 2 | 1,628 | $820 | 0.5 mi |
E 26562 Via Mondelo Sold | $1,354,000 | 4 | 3 | 2,089 | $648 | 1.0 mi |
F 18 Hawk Hill Sold | $1,505,000 | 4 | 3 | 2,230 | $675 | 0.4 mi |
G 139 Melrose Drive Active | $1,239,000 List Price | 3 | 3 | 1,754 | $706 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1997, the property has undergone a comprehensive recent renovation including brand new luxury flooring, a modern kitchen with updated appliances, and critical system upgrades such as a new HVAC, electrical panel, and PEX re-piping, meeting the criteria for a high-end turnkey residence.
The property features significant high-value infrastructure improvements including PEX re-piping, a new HVAC system, an upgraded electrical panel, and a Tesla charging station, ensuring a low-maintenance move-in experience.
Positioned on a quiet cul-de-sac with no homes directly behind, the oversized wraparound backyard offers rare privacy and mature landscaping that is highly sought after in the Melrose community.
Residents enjoy a gated enclave lifestyle with HOA-maintained front yards and access to the prestigious Mission Viejo Lake, providing a resort-style environment with swimming, boating, and seasonal events.
With 1,754 square feet of living space, the interior may feel somewhat restrictive for buyers accustomed to the larger floor plans typically found in this price bracket.
The current 3-bedroom configuration may limit appeal for larger families or those requiring a dedicated home office without converting existing flexible living space.
PRICE REDUCTION! Now the best priced residence within a gated community in the most desired location of Southwest Mission Viejo! Exceptional Privacy, Rare Lot, and Turnkey Upgrades. Welcome to one of the coveted homes in the gated enclave of Melrose — where thoughtfully maintained surroundings, privacy, and comfort converge for effortless family living. Situated on an extraordinary oversized lot, this beautifully remodeled residence offers an expansive wraparound backyard rarely found in the neighborhood, with no homes behind, creating an idyllic backdrop of mature trees and sunshine throughout the day. Located on a quiet cul-de-sac, this home delivers the ideal blend of privacy and convenience, just moments from shopping, dining, parks, and top-rated schools. Zoned for award-winning Capistrano Unified schools, and offering access to the exclusive Mission Viejo Lake — with swimming, kayaking, concerts, and family-friendly activities — this property presents a lifestyle as vibrant as the home itself. Every detail has been upgraded with care: brand new luxury flooring, modern appliances, PEX re-piping, new HVAC system, electrical panel, and even a Tesla charging station. The stylishly redesigned backyard is perfect for hosting, play, or simply unwinding in your own outdoor sanctuary. Inside, the flexible layout allows for up to 4 bedrooms or a spacious office/media room, adapting seamlessly to your evolving needs. The Melrose community offers a picturesque setting with HOA-maintained front yard landscaping, gated security, and access to a resort-style pool and spa—all included for a low monthly fee. This is truly a move-in-ready opportunity for buyers seeking a peaceful, convenient, and upscale neighborhood.
No exterior & parking available.
Grades K-5 • 0.8 mi
Grades K-5 • 1.8 mi
Grades 6-8 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 1,754 | 1,900 | 45% |
| Lot Size | 4,500 | 5,000 | 37% |
| Price | $1.17M | $1.30M | 37% |
| Price per sq ft | $664 | $666 | 49% |
| Built year | 1997 | 1984 | 91% |
| HOA | $220.0 | $253 | 44% |
| Days on market | 6 | 129 | 4% |
May 31, 2026
$1,165,000
Initial Listing
Dec 23, 2022
$975,000
Public Record
May 26, 2020
$713,000
Public Record
Mar 28, 2017
$615,000
Public Record
Feb 7, 2005
$596,000
Public Record