28938 Paseo Caravella, Mission Viejo, California 92692, Mission Viejo, 92692 - 3 bed, 2 bath

28938 Paseo Caravella
Mission Viejo, California 92692
Property Price
SUMMARY
Analysis of 28938 Paseo Caravella, Mission Viejo, California 92692 is currently available with a list price of $874,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Mission Viejo Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1998, this property is well-maintained and move-in ready but shows its age with original late-90s features. The kitchen and bathrooms contain dated white tile countertops and older white appliances. While the home benefits from being re-piped and having hard surface flooring, it lacks the recent comprehensive renovations necessary to meet the 'good' or 'excellent' criteria.
PROSSTRENGTHS & OPPORTUNITIES
- Premier 55+ Lifestyle & Amenities
Located in the prestigious guard-gated Palmia community, this home offers access to resort-style amenities including two pools, a putting course, tennis courts, and a clubhouse, fostering an active and secure lifestyle.
- Rare Parking & End-Unit Privacy
As a single-level end unit, the property provides enhanced privacy and natural light, further distinguished by a rare full-sized two-car driveway in addition to the two-car garage.
- Significant Infrastructure Value
The home has been fully re-piped and features no Mello-Roos assessments, offering long-term financial benefits and peace of mind regarding major maintenance concerns.
CONSRISKS & DEFICIENCIES
- High Monthly Carrying Costs
The association fee of $740 per month is substantial and may be a deterrent for buyers on a fixed income or those sensitive to high recurring monthly expenses.
- Modified Bedroom Configuration
The removal of a wall in the third bedroom to open it to the kitchen creates a non-traditional layout that may require additional investment to restore if a private third bedroom is desired.
About 28938 Paseo Caravella
Bring All Offers! Beautiful 3 Bedroom, 2 Bath, Single-level End Unit home with a much sought after Full-sized, 2-car Driveway located in the very desirable 55+ Guard Gated community of Palmia in Mission Viejo. A wall in the third bedroom was removed, opening it to the spacious Kitchen. The door to the room from the hallway, as well as the closet, remains in place. The room could easily be converted back to a private bedroom or continue to be used as a TV room or dining area. This home features plenty of natural light with shutters and blinds throughout. The expansive Eat-in Kitchen features a gas range & convenient Island. The Primary Bedroom includes a ceiling fan and access to the large outdoor space via a sliding glass door. The Primary Bath features dual sinks and a walk-in shower with no step. Other features include a fireplace in Living Room, high ceilings, hard surface/tile flooring and recessed lighting throughout. The separate inside laundry room includes plenty of cabinets and a utility sink. The 2-car garage can be accessed directly from inside the home. The home has been re-piped and has no Mello-Roos. The Association clubhouse and amenities includes 2 pools, spa, putting course, tennis, activities, cable service and more.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1998
- Lot Size
- -
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $740.0 / Month
Neighborhood Insights
Mission Viejo Unified Schools
Melinda Heights Elementary School
Grades K-6 • 0.6 mi
Rancho Santa Margarita Intermediate School
Grades 7-8 • 2.2 mi
Trabuco Hills High School
Grades 9-12 • 1.5 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 2.0 | 80% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,695 | 1,369 | 89% |
| Lot Size | - | 61,502 | 34% |
| Price | $874.0K | $874.0K | 50% |
| Price per sq ft | $516 | $606 | 11% |
| Built year | 1998 | 1987 | 80% |
| HOA | $740.0 | $609 | 86% |
| Days on market | 65 | 157 | 11% |
Pricing History
Listed for Sale
Mar 3, 2026
$874,000
$899,900
-3% Price Drop
Initial Listing
Price Change
Jan 31, 2026
$899,900
$959,900
-6% Price Drop
Initial Listing
Price Change
Jan 1, 2026
$959,900
Initial Listing
Sold
Nov 17, 2020
$575,000
Public Record




























