16578 Montego Way, Tustin, California 92780, Tustin, 92780 - 3 bed, 2 bath
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16578 Montego Way
Tustin, California 92780
ACTIVE
CONDITION: FAIR
3Beds
2Baths
1,188Sq Ft
594Lot Size
Property Price
LIST PRICE$629,900
EST. MARKET VALUE
$597,638
5% AboveMARKET VALUE
SUMMARY
This Single Family Residence presents a Strong Value Opportunity, listed at $629,900—positioned well above the $597,638 Fair Market Value by 5%. While the property requires modernization, its Condition Rating of 4 reflects a functional, dated interior with significant potential for cosmetic upgrades. Key assets include a 1-car detached garage plus carport, a private brick patio, and a prime location within the Tustin Unified School District. This property is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking to build equity through strategic renovations.
Estimated Market Value
$597,638
Based on Realkey algorithm analyzing recent comparable sales in Tustin.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 16578 Montego Way Subject | $629,900* List Price | 3 | 2 | 1,188 | $503 | - |
A 15500 Tustin Village 25 Active | $536,000 List Price | 2 | 2 | 1,080 | $496 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1964, this 60-year-old property is functional but dated. While it features some cosmetic updates like newer carpet and laminate flooring, the kitchen and bathrooms appear to be over 20 years old. The lack of central air conditioning (relying on a window unit) and the presence of popcorn ceilings indicate that major systems and aesthetic finishes require modernization to meet current market standards.
PROSSTRENGTHS & OPPORTUNITIES
- Desirable Parking & Storage
Unlike many attached units, this property features both a one-car detached garage and an additional carport space, providing significant value and convenience for multi-vehicle households.
- Prime Central Location
The home is ideally situated near Old Town Tustin, Tustin Ranch Marketplace, and major freeways (5 and 55), offering residents easy access to premier shopping, dining, and commuting routes.
- Financing Accessibility
As a PUD that is FHA and VA approved, this property is highly accessible to a wide range of buyers, including first-time homeowners and veterans seeking low-down-payment options.
CONSRISKS & DEFICIENCIES
- Low Available Lot Utilization
The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 594, living area = 1188.
- Inadequate Cooling System
The property lacks central air conditioning, relying instead on a window unit in the living room, which may not provide sufficient cooling for the upstairs bedrooms during hot summer months.
- Dated Layout and Age
Built in 1964, the 'step-saving' kitchen and 1.5-bath configuration may feel restrictive and dated compared to modern open-concept designs, potentially requiring future renovation.
About 16578 Montego Way
What a bargain!!!! Welcome to Tustin Village, an established single family attached community in the heart of Tustin! Home features 3 bedrooms, 1.5 bathrooms, and nearly 1200 square feet of living space! This particular unit also has a highly desirable 1 car detached garage & carport space! Wind your way through the lush green court yard w/mature landscaping to your new home. Interior features include: Living room w/wood laminate flooring + a brick corner fireplace! Step saving kitchen w/breakfast nook, built in oven, gas cooktop, & tile flooring! There's also a half bath & laundry room downstairs! Upstairs features 3 nice size bedrooms (one with walk-in closet), & a full bathroom w/ tub + shower combo! Home has central heating & brand wall AC in living room! Back yard features a brick patio & plenty of room for your table/chairs, bbq, etc...Tustin Village HOA has a gated pool area & playground too! Great location convenient to Old Town, Tustin Ranch Marketplace, loads of shopping, favorite restaurants, & freeway close to the 5 & 55! Trash is included w/HOA! PUD...FHA/VA ok!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1964
- Lot Size
- 594 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $335.0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 1,188 | 2,123.589 |
| Lot Size | 594 | 6,894.875 |
| Price | $629.9K | $1.45M |
| Price per sq ft | $530 | $714 |
| Built year | 1964 | 1974 |
| HOA | $335.0 | $179 |
| Days on market | 68 | 47 |
Pricing History
Listed for Sale
Aug 16, 2026
$629,900
$635,000
-1% Price Drop
Initial Listing
Price Change
Jul 31, 2026
$635,000
$639,900
-1% Price Drop
Initial Listing
Price Change
Jul 17, 2026
$639,900
$642,500
+0% Price Increase
Initial Listing
Price Change
Jul 3, 2026
$642,500
Initial Listing
Sold
Mar 14, 2025
$595,000
Public Record