22 Lazurite, Rancho Santa Margarita, California 92688, Rancho Santa Margarita, 92688 - 4 bed, 3 bath
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22 Lazurite
Rancho Santa Margarita, California 92688
ACTIVE
CONDITION: FAIR
4Beds
3Baths
2,004Sq Ft
6,536Lot Size
Property Price
LIST PRICE$1,250,000
EST. MARKET VALUE
$1,295,000
3% BelowMARKET VALUE
SUMMARY
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.
Estimated Market Value
$1,295,000+$45,000 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Rancho Santa Margarita.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 22 Lazurite Subject | $1,250,000* List Price | 4 | 3 | 2,004 | $646 | - |
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 4 Via Onza Sold | $1,400,000 | 4 | 3 | 2,411 | $581 | 0.5 mi |
F 14 Anglesite Sold | $1,300,000 | 5 | 3 | 2,545 | $511 | 0.2 mi |
G 19 La Purisima Sold | $1,521,250 | 4 | 3 | 2,712 | $561 | 0.6 mi |
H 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.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
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.
PROSSTRENGTHS & OPPORTUNITIES
- Private Outdoor Oasis
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.
- Premier Community Amenities
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.
- Top-Tier Education
Situated in the Saddleback Valley Unified School District, the home is conveniently located near highly-rated schools, including Melinda Heights Elementary.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 5.
- Lack of Scenic Views
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.
- HVAC Limitations
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.
About 22 Lazurite
Bright, move-in-ready two-story pool home in Rancho Santa Margarita's Melinda Heights, freshly refreshed with new interior paint and new carpet installed this week. The open main level pairs a living room with fireplace and a granite island kitchen with gas range that opens to the backyard. Outside is a private pool and spa, a pavered deck, a pergola-covered patio, and a grassy yard. Upstairs, the primary suite offers a walk-in closet and dual-vanity bath, complemented by additional bedrooms and a spacious bonus room that works as an office, playroom, or optional fifth bedroom. Two-car attached garage with overhead storage and a solar system. Located near SAMLARC community amenities and assigned to Saddleback Valley Unified schools. Turnkey and ready to move right in.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1998
- Lot Size
- 6,536 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $91.0 / Month
Neighborhood Insights
Rancho Santa Margarita Unified Schools
Melinda Heights Elementary School
Grades K-6 • 0.5 mi
8/10
Rancho Santa Margarita Intermediate School
Grades 7-8 • 1.5 mi
7/10
Trabuco Hills High School
Grades 9-12 • 2.2 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 3.0 | 3.0 |
| Square foot | 2,004 | 2,052.721 |
| Lot Size | 6,536 | 5,381.721 |
| Price | $1.25M | $1.36M |
| Price per sq ft | $624 | $654 |
| Built year | 1998 | 1994 |
| HOA | $91.0 | $146 |
| Days on market | 57 | 53 |
Pricing History
Listed for Sale
Aug 25, 2026
$1,250,000
$1,295,000
-3% Price Drop
Initial Listing
Price Change
Jul 14, 2026
$1,295,000
Initial Listing
Sold
Mar 22, 2002
$385,000
Public Record
Sold
Jun 21, 1999
$272,500
Public Record