315 Calle Elegante, MONTECITO, CA 93108, MONTECITO, 93108 - 3 bed, 3 bath
315 Calle Elegante
MONTECITO, CA 93108
Property Price
SUMMARY
Analysis of 315 Calle Elegante, MONTECITO, CA 93108 reveals a property with a current list price of $4,950,000, which is 9% above the estimated $4,503,331 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the MONTECITO 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.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 315 Calle Elegante Subject | $4,950,000* List Price | 3 | 3 | 2,987 | $1,508 | - |
A 734 El Rancho Road Sold | $5,300,000 | 4 | 3 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is new construction or fully renovated.
Although built in 1988, the property has undergone extensive high-end renovations that align with current luxury standards. The interior features modern natural oak flooring, soaring 19-foot ceilings, and a primary suite with a recently updated spa-like bathroom. The seamless indoor-outdoor flow, stone fireplaces, and high-quality finishes throughout indicate the home has been meticulously maintained and updated within the last 5 years, showing no signs of deferred maintenance.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 30492, living area = 2987.
- Premier School District
The property is situated within the highly coveted Cold Spring School District, a top-tier educational zone that significantly bolsters long-term property value and demand.
- Architectural Scale
Soaring 19-foot ceilings and an open-concept floor plan create an impressive sense of volume and luxury, enhancing the home's aesthetic appeal and natural light.
CONSRISKS & DEFICIENCIES
- Limited Bedroom Count
At a $4.95 million price point, a three-bedroom configuration may be considered restrictive for larger families or buyers requiring dedicated guest and office spaces.
- 1980s Construction
Built in 1988, the property may require capital improvements to aging mechanical systems or energy efficiency features to align with modern luxury standards.
About 315 Calle Elegante
Set on a private cul-de-sac, this 3-bed/2.5-bath Montecito home blends timeless Santa Barbara architecture with dreamy interiors and effortless indoor-outdoor flow. Amazing scale, soaring 19-foot ceilings, sun-lit rooms, stone fireplaces, natural oak floors, open living spaces all add style and function. Each bedroom opens to lush gardens, while the primary suite features high ceilings, a spa-like bath, and ample closets. Outdoors, a large patio flows to a usable grassy yard with lush landscaping. Earthy and effortlessly luxurious, it's a rare find in the Cold Spring School District.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1988
- Lot Size
- 30,492 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 40% |
| Baths | 3.0 | 5.0 | 30% |
| Square foot | 2,987 | 3,681 | 41% |
| Lot Size | 30,492 | 43,560 | 36% |
| Price | $4.95M | $5.33M | 40% |
| Price per sq ft | $1.7K | $1.6K | 50% |
| Built year | 1988 | 1973 | 65% |
| HOA | $0 | $0 | 50% |
| Days on market | 11 | 237 | 1% |
Pricing History
Listed for Sale
Feb 24, 2026
$4,950,000
Initial Listing
Sold
Jun 2, 2022
$4,019,000
Public Record
Sold
Nov 26, 2001
$1,350,000
Public Record