40 Rainwood, Aliso Viejo, California 92656, Aliso Viejo, 92656 - 2 bed, 1 bath
40 Rainwood
Aliso Viejo, California 92656
Property Price
SUMMARY
Analysis of 40 Rainwood, Aliso Viejo, California 92656 is currently available with a list price of $599,900. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Aliso 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 move-in ready.
The property is in move-in ready condition with several high-value updates that align with the 'Good' criteria. Key improvements include a new AC and furnace installed in 2020, modern Luxury Vinyl Plank (LVP) flooring throughout, and an updated kitchen featuring Granite Transformations countertops and stainless steel appliances. While the home was built in 1989, the interior has been well-maintained and refreshed with recessed lighting and plantation shutters, though some elements like the popcorn ceilings and cabinet styles reflect its original era.
PROSSTRENGTHS & OPPORTUNITIES
- Modern Interior Updates
The home features high-quality Luxury Vinyl Plank flooring, Granite Transformations countertops, and updated bathroom fixtures, offering a move-in-ready aesthetic.
- Energy Efficiency Upgrades
Significant investments in a new AC/Furnace (2020) and R-38 attic insulation with a radiant barrier provide enhanced comfort and lower utility costs.
- Versatile Floor Plan
The inclusion of a den/office with its own sliding door entrance offers excellent flexibility for remote work or an easy conversion into a second bedroom.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 840, other record living area = 784. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 1.
- Compact Living Space
At 840 square feet, the total living area is relatively small, which may feel restrictive if the den is utilized as a full-time second bedroom.
- Single Bathroom Limitation
The presence of only one bathroom can be a logistical drawback for multi-occupant households or when hosting guests.
About 40 Rainwood
Welcome to this well-maintained upper-level corner-unit condo in the desirable Glenwood Village community of Aliso Viejo. This thoughtfully designed, diligently maintained, and beautifully updated home features 1 bedroom plus a den/office—perfect for working from home and easily convertible into a second bedroom. Recent updates include beautiful Luxury Vinyl Plank (LVP) flooring, a new AC and furnace (2020), Granite Transformations countertops in the kitchen, an updated bathroom, and new R-38 rated attic insulation with a radiant barrier and attic fan to help reduce heating and cooling costs. The unit includes its own private balcony/sitting area with private staircase access. The versatile den/office includes its own sliding door entrance. The dining area and spacious family room feature vaulted ceilings with high accent windows that bring in exceptional natural light, along with a cozy gas fireplace. The combination of soaring ceilings, tall windows, and plantation shutters creates a bright, inviting living space throughout the day. Clean LVP flooring and recessed lighting add a modern touch. The updated kitchen includes stainless steel appliances, Granite Transformations countertops, ample cabinet space, and an efficient layout. Refrigerator is included. Down the hall to the primary bedroom is a separate in-unit laundry area (washer and dryer included) and a full bathroom. The primary bedroom features vaulted ceilings, additional high windows that provide abundant natural light, and a walk-in closet. Surrounded by lush trees, green common areas, parks, and natural open space, this home offers a peaceful setting while still being close to everything. Enjoy quick access to shopping, dining, recreation, and some of Orange County’s best outdoor lifestyle amenities. You’re just a quiet 15-minute drive to Downtown Laguna Beach, 10 minutes to premier hiking and mountain biking trails, and 15 minutes to John Wayne Airport or Newport Beach. Aliso Viejo is also consistently ranked as one of California’s safest cities, making it a truly exceptional place to call home.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1989
- Lot Size
- 113,065 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $480.0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 1.0 | 2.0 | 13% |
| Square foot | 840 | 1,221 | 10% |
| Lot Size | 113,065 | 60,023 | 59% |
| Price | $599.9K | $800.0K | 9% |
| Price per sq ft | $714 | $665 | 68% |
| Built year | 1989 | 1992 | 33% |
| HOA | $480.0 | $420 | 71% |
| Days on market | 98 | 170 | 17% |
Pricing History
Listed for Sale
Jan 31, 2026
$599,900
$618,800
-3% Price Drop
Initial Listing
Price Change
Jan 15, 2026
$618,800
$624,900
-1% Price Drop
Initial Listing
Price Change
Nov 29, 2025
$624,900
Initial Listing
Sold
Oct 19, 2001
$184,000
Public Record
Sold
Jun 27, 2001
$173,000
Public Record
Sold
Dec 23, 1999
$134,000
Public Record
Sold
Dec 12, 1995
$98,000
Public Record