22 Lazurite, Rancho Santa Margarita, California 92688, Rancho Santa Margarita, 92688 - 4 bed, 3 bath
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Rancho Santa Margarita, California 92688
This Single Family Residence represents a Strong Value Opportunity, listed at $1,295,000—positioned well below the $1,317,017 Fair Market Value by 1.67%. This valuation gap offers $22,017 in Instant Equity. With a Fair Condition Rating, the home features a Private Pool and Spacious Lot in the desirable Melinda Heights enclave. Located within the Saddleback Valley Unified School District near top-rated schools, this property is an ideal acquisition for Owner-Occupants or first-time buyers seeking a lifestyle-focused home with significant potential for cosmetic appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 22 Lazurite Subject | $1,295,000* List Price | 4 | 3 | 2,004 | $657 | - |
A 36 Via Perico Sold | $1,430,000 | 4 | 3 | 2,141 | $668 | 0.9 mi |
B 9 El Morro Sold | $1,360,000 | 5 | 3 | 2,301 | $591 | 0.5 mi |
C 29 Feldspar Sold | $1,383,000 | 4 | 3 | 2,545 | $543 | 0.1 mi |
D 34 Via Tronido Sold | $1,300,000 | 3 | 3 | 2,018 | $644 | 0.2 mi |
E 19 La Purisima Sold | $1,521,250 | 4 | 3 | 2,712 | $561 | 0.6 mi |
F 27 Feldspar Way Sold | $1,333,000 | 6 | 3 | 2,287 | $583 | 0.1 mi |
G 1 Danta Sold | $1,320,000 | 4 | 3 | 1,977 | $668 | 0.8 mi |
H 17 Via Anadeja Sold | $1,375,000 | 4 | 3 | 2,345 | $586 | 0.9 mi |
I 11 Pyrite Active | $1,199,900 List Price | 4 | 3 | 1,994 | $602 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1998 (26 years old), the home falls into the 'Fair' category as it is over 20 years old and remains largely dated. While it features newer LVP flooring and a well-maintained exterior/pool, the kitchen retains original honey-oak cabinetry and the bathrooms show builder-grade finishes from the late 90s. It is functional and move-in ready but requires cosmetic updates to the kitchen and baths to meet modern standards.
The property features a rare private pool on a generous 6,536 sqft lot, providing a premium backyard retreat that is highly desirable for the Melinda Heights area.
Residents gain access to the extensive SAMLARC master association, offering resort-style living with the RSM Beach Club, Lagoon, and numerous sports and park facilities.
Situated in the Saddleback Valley Unified School District, the home is conveniently located near highly-rated schools, including Melinda Heights Elementary.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 5.
The property is noted to have no specific views, which may be a drawback for buyers seeking the mountain or city light vistas common in this hillside community.
The listing highlights a whole-house fan for cooling rather than central air conditioning, which may be insufficient for some buyers during peak Southern California summer heat.
Welcome to 22 Lazurite, a private-pool home in the sought-after Emerald Ridge enclave of Melinda Heights in Rancho Santa Margarita. This 4-bedroom, 2.5-bath residence offers 2,004 square feet of living space on one of the neighborhood's larger lots, complete with a sparkling private pool - a true backyard retreat for California summers. A whole-house fan keeps the home cool and energy-efficient, and the attached 2-car garage adds everyday convenience. The flexible floor plan connects the main living and dining areas to the kitchen and opens to the spacious backyard, offering plenty of room to entertain and relax. Situated in the Saddleback Valley Unified School District. As part of the SAMLARC master association, residents enjoy resort-style amenities including the RSM Beach Club and Lagoon, Junior Olympic pools, a splash pad, dog park, pickleball, tennis, and basketball courts, 13 parks, and miles of scenic hiking and biking trails. Convenient to shopping, dining, parks, and toll-road access, this is a rare opportunity to own a private-pool home on a large lot in one of South Orange County's premier master-planned communities.
No exterior & parking available.
Grades K-6 • 0.5 mi
Grades 7-8 • 1.5 mi
Grades 9-12 • 2.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 3.0 | 3.0 |
| Square foot | 2,004 | 2,093 |
| Lot Size | 6,536 | 5,515 |
| Price | $1.29M | $1.34M |
| Price per sq ft | $646 | $636 |
| Built year | 1998 | 1995 |
| HOA | $91.0 | $140 |
| Days on market | 8 | 50 |
Jul 14, 2026
$1,295,000
Initial Listing
Mar 22, 2002
$385,000
Public Record
Jun 21, 1999
$272,500
Public Record