42 Picazo 29, Rancho Santa Margarita, California 92688, Rancho Santa Margarita, 92688 - 2 bed, 2 bath
42 Picazo 29
Rancho Santa Margarita, California 92688
Property Price
SUMMARY
Analysis of 42 Picazo 29, Rancho Santa Margarita, California 92688 is currently available with a list price of $515,000. 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 Rancho Santa Margarita 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 new construction or fully renovated.
The property has undergone a complete recent remodel, featuring modern luxury vinyl plank flooring, quartz countertops in both the kitchen and bathrooms, and new stainless steel appliances. With fresh paint, recessed lighting, and updated fixtures throughout, the home is in turnkey condition and meets the criteria for an extensively renovated property within the last 5 years.
PROSSTRENGTHS & OPPORTUNITIES
- Turnkey Remodel
The home is completely updated with quartz countertops, luxury vinyl plank flooring, and stainless steel appliances, offering a move-in-ready experience for the buyer.
- Desirable Community Amenities
Residents benefit from extensive amenities including a pool, sauna, and proximity to Lake Rancho Santa Margarita for hiking, fishing, and lakeside recreation.
- Ground-Level Accessibility
The ground-floor layout provides easy access without stairs and features a private enclosed front porch, enhancing both convenience and outdoor enjoyment.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 773, other record living area = 737.
- Compact Living Area
At 773 square feet, the interior space is relatively small for a two-bedroom residence, which may feel restrictive for some buyers.
- Limited Parking
The property includes only one dedicated carport space, which could be a challenge for households with multiple vehicles or frequent guests.
About 42 Picazo 29
Welcome to 42 Picazo #29 in the highly desirable Las Flores II community of Rancho Santa Margarita — a completely remodeled, move-in ready ground-level home that blends comfort, style, and convenience. This beautifully upgraded 2-bedroom, 2-bath residence offers 773 square feet of thoughtfully designed living space. Every detail has been refreshed, creating a truly turnkey opportunity for its next owner. The kitchen shines with elegant countertops, stainless steel appliances, a gas range, and modern finishes that make both cooking and entertaining a pleasure. Fresh interior paint, luxury vinyl plank flooring, recessed lighting, and ceiling fans in both bedrooms add to the home’s clean, contemporary feel. Both bathrooms feature upgraded vanities with quartz countertops, delivering a cohesive and stylish look throughout. Enjoy the ease of indoor laundry with a stackable washer and dryer conveniently located inside the unit. The ground-level layout provides seamless accessibility, and the dedicated carport parking space adds everyday convenience. One of the home’s most charming features is the enclosed front porch, tucked behind a sweet white picket gate — the perfect spot for morning coffee, evening relaxation, or welcoming guests. Just steps away, you’ll find easy access to a peaceful greenbelt, offering additional space to unwind outdoors. Located approximately half a mile from Lake Rancho Santa Margarita, residents enjoy access to year-round amenities including summer concerts, holiday celebrations, fishing, hiking, biking trails, lakeside recreation, tennis and pickleball courts. The Las Flores II community offers fantastic amenities including a sparkling pool, sauna, barbecue area, fire pit, clubhouse. Rancho Santa Margarita is one of Orange County’s most beloved planned communities, known for its abundant parks, scenic walking trails, and beautiful lake-centered lifestyle. This home offers not just a place to live, but a vibrant and welcoming community to be part of. Turnkey, stylish, and ideally located — 42 Picazo #29 is ready to welcome you home.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1987
- Lot Size
- -
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $399.0 / 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 | 2.0 | 2.0 | 50% |
| Square foot | 773 | 1,010 | 24% |
| Lot Size | - | 14,597 | 27% |
| Price | $515.0K | $650.0K | 28% |
| Price per sq ft | $666 | $664 | 53% |
| Built year | 1987 | 1990 | 22% |
| HOA | $399.0 | $452 | 34% |
| Days on market | 9 | 178 | 3% |
Pricing History
Listed for Sale
Feb 26, 2026
$515,000
Initial Listing
Sold
Apr 12, 2024
$470,000
Public Record
Sold
May 30, 2008
$205,000
Public Record
Sold
Apr 8, 2005
$323,000
Public Record
Sold
Apr 21, 2003
$200,000
Public Record