42 Paseo Viento, Rancho Santa Margarita, California 92688, Rancho Santa Margarita, 92688 - 2 bed, 3 bath
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42 Paseo Viento
Rancho Santa Margarita, California 92688
ACTIVE
CONDITION: FAIR
2Beds
3Baths
1,256Sq Ft
37,713Lot Size
Property Price
LIST PRICE$835,000
EST. MARKET VALUE
$744,963
12% AboveMARKET VALUE
SUMMARY
This Detached Condominium represents a High-Potential Investment Opportunity, listed at $835,000—positioned above the $744,964 Fair Market Value. While the price reflects a premium, the property offers a Condition Rating of 4, featuring a Granite Kitchen and a versatile Loft for flexible living. Located in the Saddleback Valley Unified district, it sits just 0.37 miles from a top-rated elementary school. With Enhanced Privacy and no rear neighbors, this home is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a stable, well-located asset.
Estimated Market Value
$744,963
Based on Realkey algorithm analyzing recent comparable sales in Rancho Santa Margarita.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 42 Paseo Viento Subject 2 bd · 3 ba · 1,256 sqft · $593 | $835,000* List Price | 2 | 3 | 1,256 | $593 | - |
A 25 Paseo Estrellas Sold 2 bd · 3 ba · 1,231 sqft · $556 · 0.7 mi | $685,000 | 2 | 3 | 1,231 | $556 | 0.7 mi |
B 30 Paseo Estrellas Sold 2 bd · 3 ba · 1,231 sqft · $581 · 0.8 mi | $715,000 | 2 | 3 | 1,231 | $581 | 0.8 mi |
C 73 Camino Del Oro Sold 2 bd · 2 ba · 1,225 sqft · $567 · 0.8 mi | $695,000 | 2 | 2 | 1,225 | $567 | 0.8 mi |
D 23 Paseo Estrellas Sold 2 bd · 3 ba · 1,231 sqft · $585 · 0.7 mi | $720,000 | 2 | 3 | 1,231 | $585 | 0.7 mi |
E 59 Camino Del Oro Sold 2 bd · 2 ba · 1,110 sqft · $596 · 0.8 mi | $661,120 | 2 | 2 | 1,110 | $596 | 0.8 mi |
F 54 Paseo Viento Active 2 bd · 3 ba · 1,256 sqft · $669 · 0.0 mi | $840,000 List Price | 2 | 3 | 1,256 | $669 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1997 (29 years old), the property exceeds the 20-year threshold for a 'Good' rating. While the kitchen features granite countertops and stainless appliances indicating a mid-life update, the cabinetry and laundry area remain dated to the original construction era, requiring cosmetic modernization.
PROSSTRENGTHS & OPPORTUNITIES
- Enhanced Privacy
The property is uniquely positioned with no neighbors directly behind, offering a rare level of seclusion and quiet for a detached condominium in this community.
- Flexible Living Space
Featuring a versatile loft in addition to two bedrooms, the floor plan accommodates modern needs for a home office, media room, or guest area without sacrificing primary living space.
- Prime School Proximity
Located within the highly-regarded Saddleback Valley Unified district, the home is just 0.37 miles from the top-rated Melinda Heights Elementary School, adding significant long-term value.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =37713, other record lot size in square feet = 43130.
- Limited Bedroom Count
With only two primary bedrooms, the property may face challenges attracting larger families or buyers who require more traditional sleeping quarters.
- Compact Square Footage
At 1,256 square feet, the interior living space is relatively modest for the $835,000 price point, which may result in a higher price-per-square-foot compared to larger alternatives.
About 42 Paseo Viento
Welcome to this beautifully home offering 2 bedrooms, 2.5 bathrooms + LOFT that provides the perfect space for a home office, media room, or additional living area. The open and inviting floor plan is filled with abundant natural light, creating a warm and welcoming atmosphere throughout. The kitchen features granite countertops, pex plumbing, and flows seamlessly into the main living areas, making it ideal for everyday living and entertaining. Enjoy the added privacy of having no neighbors directly behind the property, along with the convenience of a spacious two-car garage. Located in a desirable and safe community, this home offers comfort, privacy, and a wonderful opportunity to enjoy a relaxed lifestyle. Access to Rancho Santa Margarita's master-planned community amenities like the beach club, lake, tennis courts, water park, trails, and much more are included with your HOA dues. No Mello Roos! Tax rate is about 1.01%! Insurance available at only $169 / month!
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1997
- Lot Size
- 37,713 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $200.0 / Month
Neighborhood Insights
Rancho Santa Margarita Unified Schools
Melinda Heights Elementary School
Grades K-6 • 0.4 mi
8/10
Rancho Santa Margarita Intermediate School
Grades 7-8 • 1.5 mi
7/10
Trabuco Hills High School
Grades 9-12 • 2.2 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,256 | 1,056.017 |
| Lot Size | 37,713 | 26,968.576 |
| Price | $835.0K | $672.1K |
| Price per sq ft | $665 | $625 |
| Built year | 1997 | 1990 |
| HOA | $200.0 | $470 |
| Days on market | 17 | 54 |
Pricing History
Listed for Sale
Oct 8, 2026
$835,000
Initial Listing
Sold
Jun 3, 2004
$489,000
Public Record
Sold
Feb 6, 1998
$159,500
Public Record