31 Cascada, Rancho Santa Margarita, California 92688, Rancho Santa Margarita, 92688 - 3 bed, 3 bath
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Rancho Santa Margarita, California 92688
This Remodeled Hillside Condominium is a Strong Value Opportunity, listed at $965,000—positioned well below the $1,031,706 Fair Market Value by 6%. This valuation gap offers $66,706 in Instant Equity for the incoming buyer. Boasting an Excellent Condition Rating, the residence features a remodeled quartz kitchen, LVP flooring, and panoramic canyon views. Located in the Capistrano Unified District near the 9/10 rated Arroyo Vista Middle School, it includes SAMLARC resort amenities. This turnkey residence is an ideal acquisition for Owner-Occupants or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 31 Cascada Subject | $965,000* List Price | 3 | 3 | 1,675 | $616 | - |
A 39 Pasto Rico Sold | $699,999 | 2 | 3 | 1,091 | $642 | 0.7 mi |
B 38 Via Contento Sold | $699,000 | 2 | 2 | 1,170 | $597 | 0.8 mi |
C 29 Encantado Canyon Sold | $780,000 | 2 | 2 | 1,230 | $634 | 0.5 mi |
D 136 Encantado Active Under Contract | $999,000 List Price | 3 | 3 | 1,743 | $573 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1989, the property has undergone extensive recent renovations that meet current quality standards. The kitchen is fully remodeled with new soft-close cabinetry, quartz countertops, and stainless steel appliances. The interior features new LVP flooring, new carpet, fresh paint, and updated bathrooms with frameless glass showers. The home is in move-in condition with no signs of deferred maintenance.
Middle School: Arroyo Vista Middle School (9/10).
The home features a fully remodeled kitchen with quartz countertops and a highly versatile floor plan that includes a rare main-floor bedroom and a spacious loft with abundant natural light from skylights.
Residents benefit from Rancho Santa Margarita’s extensive lifestyle perks, including lake access, a beach club, pools, and proximity to the Tijeras Creek Golf Course and top-rated schools.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1675, other record living area = 1472.
The $415 monthly association fee adds a significant recurring cost to the property's carrying expenses, which may be a consideration for budget-conscious buyers.
As a condominium, the property involves shared walls and community-governed restrictions, which may offer less privacy and autonomy than a detached single-family residence.
Located in the sought-after Tierra Linda community in the heart of Rancho Santa Margarita, this home offers beautiful hillside views and a highly functional 3 bedroom plus loft floor plan. The layout features one bedroom and full bathroom on the main level and two bedrooms and 2 full bathrooms upstairs, plus a spacious open loft / Flex space. Skylights in both the loft and primary suite bring in abundant natural light, enhancing the bright and airy feel throughout this beautiful home. The open floor plan offers welcoming living and dining spaces anchored by a gas fireplace. Details include sliding glass door leading to the back patio creating seamless indoor-outdoor living, LVP flooring, new carpet, fresh paint. The expanded and remodeled kitchen showcases new cabinetry with soft close features, quartz countertops, stainless steel farm sink, 5 burner gas stove and oven, recessed lighting, and an large eating nook. The downstairs bedroom also has sliding glass doors with direct access to the backyard patio, is perfect for a home office or guest bedroom and is adjacent to a full bathroom. Step outside to a large, sunny backyard with hillside views and enjoy the perfect weather Rancho Santa Margarita offers. The primary suite is generously sized and offers a comfortable retreat with a skylight, ceiling fan, a large walk-in closet and a ensuite bathroom showcasing dual vanities, new light fixture, wood cabinetry, and a frameless glass walk-in shower with a new door. The third bedroom offers panoramic hillside views and can easily accommodate a Queen sized bed. An oversized loft / Flex space with large skylights offers endless possibilities: a tv room, a kid space, a craft room - anything you need extra space for. Additional highlights include a whole house fan, two-car garage, and a recently REPIPED community. Enjoy being within walking distance to Tijeras Creek Golf Course, along with access to Rancho Santa Margarita’s extensive amenities, including pools, lake access, beach club, tennis courts, pickleball, sports fields, and scenic walking paths. Located in an area served by California Distinguished Schools, shopping, dining, and entertainment and offering low taxes, this property presents a flexible opportunity—ideal as a 3-bedroom starter home, a perfect downsize, or a lock-and-leave residence. An excellent investment in a strong, amenity-rich community and all just a short drive away from the beautiful beaches California is known for. Welcome Home!
No exterior & parking available.
Grades K-5 • 0.8 mi
Grades 6-8 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 2.0 | 77% |
| Baths | 3.0 | 2.0 | 70% |
| Square foot | 1,675 | 1,027 | 94% |
| Lot Size | - | 17,755 | 30% |
| Price | $965.0K | $650.0K | 93% |
| Price per sq ft | $576 | $655 | 15% |
| Built year | 1989 | 1990 | 42% |
| HOA | $415.0 | $452 | 38% |
| Days on market | 23 | 170 | 1% |
Mar 30, 2026
$965,000
Initial Listing
Feb 5, 2016
$525,000
Public Record
Feb 28, 2001
$280,000
Public Record