38 Carnation, Rancho Santa Margarita, California 92688, Rancho Santa Margarita, 92688 - 3 bed, 3 bath
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Rancho Santa Margarita, California 92688
This End-Unit Condominium represents a Strong Value Opportunity, listed at $895,000—positioned well above the $845,938 Fair Market Value by 5%. While the property is in Fair Condition Rating (4/10), it offers significant potential for cosmetic modernization to match its prime location near Rancho Santa Margarita Lake. Featuring vaulted ceilings and a private patio, the home provides a solid foundation for value-add improvements. This property is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a lifestyle-focused residence in a desirable community.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 38 Carnation Subject | $895,000* List Price | 3 | 3 | 1,325 | $638 | - |
A 51 Lobelia Sold | $700,000 | 2 | 2 | 974 | $719 | 0.5 mi |
B 92 Montana Del Lago Sold | $664,322 | 3 | 2 | 1,131 | $587 | 0.3 mi |
C 47 Via Lavendera Sold | $695,000 | 2 | 2 | 1,010 | $688 | 0.2 mi |
D 67 Via Barcelona Sold | $727,500 | 3 | 2 | 1,206 | $603 | 1.0 mi |
E 27 Via Lavendera Pending | $675,000 List Price | 2 | 2 | 1,025 | $659 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1986 (38 years old), the property is well-maintained and move-in ready but remains dated. While it features newer stainless steel appliances and a tile backsplash, the kitchen retains older tile countertops and cabinetry. The bathrooms and overall systems reflect the original construction era, meeting the criteria for a property over 20 years old needing modern updates.
The property is ideally situated near Rancho Santa Margarita Lake, offering residents easy access to scenic trails, waterfront dining, and year-round outdoor recreation.
As an end-unit, this home provides enhanced privacy and increased natural light compared to interior units, making the living space feel more like a detached residence.
The inclusion of vaulted ceilings creates an airy, spacious atmosphere that maximizes the interior square footage and enhances the overall aesthetic appeal.
Despite the premium location near the lake, the property itself is noted as having no specific views, which may be a drawback for buyers seeking a vista.
Built in 1986, the property may require updates to its original systems or cosmetic finishes to meet the expectations of modern buyers at this price point.
Welcome to 38 Carnation, a beautifully situated end-unit condo in the desirable Mission Greens community of Rancho Santa Margarita. This home offers a spacious, open, and inviting floor plan designed for comfortable everyday living and easy entertaining. The cozy kitchen features a convenient slider that opens directly to a private patio perfect for morning coffee, outdoor dining, or simply relaxing in your own quiet space. Inside, vaulted ceilings create an airy atmosphere while allowing abundant natural light to pour in, enhancing the home’s warm and welcoming feel. Upstairs, you’ll find two generously sized bedrooms along with well-appointed bathrooms, providing ample space for family, guests, or a home office. Living in Mission Greens means enjoying a peaceful, well-maintained neighborhood with lush surroundings and a true sense of community. One of the standout features of this location is its close proximity to Rancho Santa Margarita Lake, just minutes away. Residents can enjoy scenic walking trails, waterfront views, dining, and year-round outdoor activities, making it easy to embrace an active Southern California lifestyle. Conveniently located near shopping centers, restaurants, parks, and major freeways, this home offers the perfect balance of tranquility and accessibility. Whether you’re commuting or staying local, everything you need is within reach. Don’t miss the opportunity to own a bright and charming home in one of Rancho Santa Margarita’s most sought-after communities.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 2.0 | 72% |
| Baths | 3.0 | 2.0 | 65% |
| Square foot | 1,325 | 1,032 | 77% |
| Lot Size | 43,258 | 25,194 | 67% |
| Price | $895.0K | $685.0K | 86% |
| Price per sq ft | $675 | $653 | 65% |
| Built year | 1986 | 1990 | 12% |
| HOA | $309.0 | $422 | 22% |
| Days on market | 0 | 144 | 3% |
May 7, 2026
$895,000
Initial Listing
Jul 22, 2011
$305,000
Public Record
Feb 8, 2005
$460,000
Public Record
Jan 16, 2003
$298,000
Public Record