23 Paseo Estrellas, Rancho Santa Margarita, California 92688, Rancho Santa Margarita, 92688 - 2 bed, 3 bath
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Rancho Santa Margarita, California 92688
This Turnkey Condominium is a Strong Value Opportunity, listed at $725,000—positioned well below the $733,180 Fair Market Value by 1%. This valuation gap offers $8,180 in Instant Equity. Featuring a Condition Rating of 3, the home includes a renovated Granite Kitchen and modern light wood-look flooring. Located in the Saddleback Valley Unified district near Top-Rated Schools like Melinda Heights Elementary, this property offers a resort-style lifestyle. It is an ideal acquisition for Owner-Occupants or first-time buyers seeking a move-in ready home.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 23 Paseo Estrellas Subject | $725,000* List Price | 2 | 3 | 1,231 | $596 | - |
A 4 Paseo Estrellas Sold | $699,000 | 2 | 2 | 1,110 | $630 | 0.0 mi |
B 101 Camino Del Oro Sold | $734,000 | 2 | 3 | 1,231 | $596 | 0.1 mi |
C 3 Camino Del Oro Sold | $650,000 | 2 | 2 | 1,110 | $586 | 0.1 mi |
D 59 Camino Del Oro Active | $699,000 List Price | 2 | 2 | 1,110 | $630 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 1991 but features significant interior updates including a renovated kitchen with granite countertops, a stainless steel farmhouse sink, and modern appliances. The flooring has been updated to a contemporary light wood-look, and the overall condition is well-maintained and move-in ready, fitting the 5-15 year renovation profile.
The thoughtful floor plan features two spacious upstairs suites, each with its own private en-suite bathroom, offering maximum privacy and flexibility for roommates or a home office.
Residents enjoy access to both the Cabo Vista resort-style pool and the extensive Rancho Santa Margarita Lake Beach Club, providing a high-end lifestyle with parks, trails, and lagoon access.
The property is ideally located within the Saddleback Valley Unified district, specifically near the highly-rated Melinda Heights Elementary, making it a strong choice for education-focused buyers.
With only a one-car attached garage, parking may be a significant constraint for multi-vehicle households or those requiring additional storage space.
The property offers a basic neighborhood view, lacking the premium panoramic or lake vistas that often command higher demand in the Rancho Santa Margarita market.
Welcome to this beautifully maintained condo in the desirable Cabo Vista community of Rancho Santa Margarita. This spacious two-bedroom floor plan features dual upstairs suites, each with its own private bathroom, offering comfort, privacy, and flexibility for guests or home office living. The spacious primary suite includes a walk-in closet, dual sinks, and an inviting retreat-like feel, while the secondary bedroom also features its own en-suite bath. Downstairs, the large family room offers a cozy fireplace and patio views, creating a warm and inviting space for everyday living and entertaining. The dining area flows seamlessly between the living room and kitchen, while the kitchen features a breakfast nook, granite countertop, generous counter space with cabinetry and appliances including a 5-burner gas range, microwave, and dishwasher. Additional highlights include an interior laundry room, downstairs powder room, and attached one-car garage. Residents of Cabo Vista enjoy a resort-style pool and spa area, while Rancho Santa Margarita offers an exceptional lifestyle with parks, pools, hiking and biking trails, and Lake Rancho Santa Margarita beach club amenities. Ideally located near award-winning schools, shopping, dining, and convenient toll road access. Don’t miss this opportunity to enjoy comfortable living in one of Orange County’s most desirable communities.
No exterior & parking available.
Grades K-6 • 0.6 mi
Grades 7-8 • 2.0 mi
Grades 9-12 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 3.0 | 2.0 | 65% |
| Square foot | 1,231 | 1,032 | 72% |
| Lot Size | 1,500 | 25,172 | 30% |
| Price | $725.0K | $685.0K | 61% |
| Price per sq ft | $589 | $649 | 19% |
| Built year | 1991 | 1990 | 54% |
| HOA | $91.0 | $422 | 6% |
| Days on market | 16 | 144 | 3% |
May 21, 2026
$725,000
Initial Listing
Mar 29, 2018
$450,000
Public Record
Aug 24, 2012
$245,000
Public Record
Oct 19, 2001
$226,000
Public Record