502 Sunrise, Rancho Mission Viejo, California 92694, Rancho Mission Viejo, 92694 - 2 bed, 4 bath

502 Sunrise, Rancho Mission Viejo, California 92694 home-pic-0

502 Sunrise

Rancho Mission Viejo, California 92694

ACTIVE UNDER CONTRACT
CONDITION: EXCELLENT
2Beds
4Baths
2,360Sq Ft
4,427Lot Size

Property Price

LIST PRICE$1,980,000
EST. MARKET VALUE
$1,725,792
14% AboveMARKET VALUE

SUMMARY

Analysis of 502 Sunrise, Rancho Mission Viejo, California 92694 reveals a property with a current list price of $1,980,000, which is 14% above the estimated $1,725,792 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 Rancho Mission 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.

Estimated Market Value

$1,725,792
Based on Realkey algorithm analyzing recent comparable sales in Rancho Mission Viejo.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
502 Sunrise
Subject
$1,980,000*
List Price
242,360$731-
A
1286 Roots Way
Active
$1,449,999
List Price
332,000$7250.2 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Excellent
TeardownExcellent

Property is new construction or fully renovated.

Built in 2023, this former model home is in pristine condition with high-end modern finishes. The property features a chef's kitchen with quartz countertops and premium stainless steel appliances, luxury vinyl plank flooring, designer light fixtures, and energy-efficient upgrades including an 8-panel solar system.

PROSSTRENGTHS & OPPORTUNITIES

  • Panoramic Views & Privacy

    Situated on a premium corner hillside lot, the property offers unobstructed panoramic views of the mountains and open space with only one immediate neighbor, ensuring maximum privacy.

  • Designer Model Upgrades

    As a former model home, it features high-end finishes including luxury vinyl plank flooring, a limestone focal wall, designer chandeliers, and a chef's kitchen with quartz countertops and a 6-burner stove.

  • Seamless Indoor-Outdoor Living

    Two walls of stacking glass doors open to a professionally landscaped backyard equipped with a large covered patio, built-in BBQ bar with a Green Egg smoker, and a private bocce ball court.

CONSRISKS & DEFICIENCIES

  • Age-Restricted Community

    The property is located in a 55+ Gavilan neighborhood, which limits the potential buyer pool and may impact long-term resale flexibility.

  • Limited Formal Bedrooms

    With only two formal bedrooms on the main floor, the layout may be restrictive for buyers requiring more traditional bedroom spaces despite the large upstairs bonus room.

  • High Carrying Costs

    The combination of a $393 monthly HOA fee and typical Rancho Mission Viejo special assessments/Mello-Roos can result in high non-mortgage monthly expenses.

About 502 Sunrise

Perched on a hillside with panoramic views, this former Pearl Model Home impresses. Upon entry you are drawn in by the two walls of glass stacking doors opening to the stunning backyard with panoramic views of the hills and beyond. Rich wide plank luxury vinyl flooring flows throughout the main living spaces of this highly upgraded former model home. The kitchen features white cabinetry with soft close hinges, white quartz countertops, full tile backsplash and stainless steel appliances—including a large built-in refrigerator and 6 burner stove. Two bedrooms, including the primary suite and secondary suite, office, laundry room and powder bath are all on the first floor—including an attached two-car garage with epoxy flooring plus an 8 panel Solar System. Just upstairs the second floor boasts a large bonus room with full bath which can be used as a third bedroom suite, gym or game room. The spacious primary suite with beautiful limestone tile focal wall and designer chandelier. It’s generous ensuite bath has a dual sink vanity, walk-in shower with glass enclosure and bench seat and a large walk-in closet. Office with custom paint and a modern oversized brass ceiling light for a curated look. Guests will be welcomed with upgraded carpeting, a stylish wallpapered accent wall and striking gold chandelier. Plus the ensuite bath with single sink vanity and tub/shower combination makes it a luxurious space for guests. Upstairs is a oversized bonus room with wrap around windows that share the same stunning views as the backyard. With an ensuite full bath and wall of closets, this space is full of options. The home’s backyard is the star of the show! On a corner lot offering maximum privacy with only one neighbor the side and unobstructed views of open space and mountains beyond. A combination of hardscape pavers, turf and mature landscaping with ambient lighting make it a comfortable space to spend time outdoors day or night. The large covered patio with recessed lighting nearly spans the entire length of the back of the home and the wrap around yard includes a bocce ball court. A built-in BBQ bar has a Green Egg smoker and stainless steel refrigerator —convenient for outdoor entertaining. Steps from the home is the Perch 55+ Pool complex plus you have access to all of the amenities that both Gavilan and Rancho Mission Viejo have to offer which include ten community pools and clubhouses, tennis and pickleball courts, walking trails, coffee shop, gyms and more.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
2023
Lot Size
4,427 Sq. Ft.

Interior

Total Bedrooms
2
Total Bathrooms
4 (4 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$393.0 / Month

Neighborhood Insights

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds2.04.0
15%
Baths4.03.0
64%
Square foot2,3602,269
52%
Lot Size4,4274,105
57%
Price$1.98M$1.50M
80%
Price per sq ft$839$639
95%
Built year20232015
72%
HOA$393.0$330
77%
Days on market58184
9%

Pricing History

Listed for Sale

Jan 8, 2026

$1,980,000

Initial Listing

Sold

Feb 27, 2024

$1,680,000

Public Record

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