
Mission Viejo, California 92691
This Move-In Ready Condominium represents a Strong Value Opportunity, listed at $629,000—positioned well above the $590,596 Fair Market Value by 6%. While priced at a premium, the property offers an Excellent Condition Rating with modern updates like Granite Countertops and Laminate Flooring. Residents enjoy a Private Backyard and exclusive Lake Mission Viejo Privileges, alongside access to Top-Rated Schools like Trabuco Hills High. This home is an ideal sanctuary for first-time buyers or owner-occupants seeking a turnkey lifestyle in a prime community.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 21122 Aqua Subject 2 bd · 2 ba · 942 sqft · $648 | $618,888* List Price | 2 | 2 | 942 | $648 | - |
A 27974 Crimson Sold 2 bd · 2 ba · 942 sqft · $653 · 0.1 mi | $615,000 | 2 | 2 | 942 | $653 | 0.1 mi |
B 27844 Violet 155 Sold 2 bd · 2 ba · 942 sqft · $663 · 0.1 mi | $625,000 | 2 | 2 | 942 | $663 | 0.1 mi |
C 27868 Auburn Sold 2 bd · 1 ba · 800 sqft · $613 · 0.1 mi | $490,000 | 2 | 1 | 800 | $613 | 0.1 mi |
D 27808 Violet 133 Active 2 bd · 1 ba · 840 sqft · $701 · 0.1 mi | $589,000 List Price | 2 | 1 | 840 | $701 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Property is well-maintained and move-in ready. Although built in 1989, it features key updates within the 5-15 year range, including granite countertops in the kitchen, laminate flooring, stone tile, and fresh paint. Systems and structure appear functional with no visible defects.
Unlike most condominiums, this unit features a private backyard with a covered patio and mature trees, offering a rare suburban feel and dedicated space for outdoor entertaining.
Residents benefit from premium membership privileges at Lake Mission Viejo, alongside access to two community pools, spas, and sports courts, significantly enhancing the lifestyle value.
The home is move-in ready with modern updates like granite countertops and laminate flooring, complemented by high-demand features including a direct-access garage and inside laundry.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =61235, other record lot size in square feet = 1913.
The association fee of $505 per month is relatively high for a two-bedroom condo under 1,000 square feet, which may impact the overall affordability for budget-conscious buyers.
With only 1.25 bathrooms serving a two-bedroom layout, the property may present functional challenges for households with multiple occupants or when hosting guests.
Welcome to Rainbow Ridge in Mission Viejo, where comfortable living, private outdoor space, and community amenities come together. This move-in-ready 2-bedroom, 1.25-bath condo features a private backyard with covered patio, direct-access one-car garage, inside laundry, and membership privileges at Lake Mission Viejo. Freshly painted and filled with natural light, the home offers an inviting floor plan with laminate flooring throughout the main living areas, stone tile in the kitchen and bathrooms, and carpeted bedrooms. The bright kitchen features granite countertops, generous workspace, and an easy connection to the living and dining areas—perfect for both everyday living and entertaining. The spacious primary bedroom includes a large walk-in closet and separate dressing area, while the second bedroom offers flexibility as a guest room, home office, or den. Step outside to your own private backyard retreat. Surrounded by mature trees, the covered patio provides a welcoming space for morning coffee, outdoor dining, entertaining friends, or creating a low-maintenance garden. Private outdoor space like this adds another dimension to condo living. Everyday convenience continues with an inside stackable washer and dryer and direct access to the one-car garage. Rainbow Ridge residents enjoy two community pools and spas, walking paths, picnic areas, a Tot Lot, and sport court. Membership privileges at Lake Mission Viejo provide even more opportunities to enjoy the Mission Viejo lifestyle, including the lake, beaches, recreation, and community activities. If you’ve been looking for a Mission Viejo home that combines a private backyard, garage, inside laundry, community amenities, and Lake Mission Viejo privileges, this Rainbow Ridge condo is ready to welcome you home.
No exterior & parking available.
Grades K-6 • 1.0 mi
Grades 7-8 • 4.2 mi
Grades 9-12 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 942 | 1,240.63 |
| Lot Size | 61,235 | 97,777.444 |
| Price | $618.9K | $756.5K |
| Price per sq ft | $657 | $613 |
| Built year | 1989 | 1987 |
| HOA | $505.0 | $512 |
| Days on market | 74 | 59 |
Oct 9, 2026
$618,888
$629,000
-2% Price Drop
Initial Listing
Aug 12, 2026
$629,000
Initial Listing
Aug 9, 2013
$335,000
Public Record
Jul 30, 2010
$222,500
Public Record
Sep 8, 2005
$410,000
Public Record
Aug 20, 2001
$187,500
Public Record