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
ACTIVE$1,980,000$2,360/sqft
Est. Value: $1,751,707
-11%
AboveEstimate
502 Sunrise, Rancho Mission Viejo, California 92694
2Beds
4Baths
2,360Sqft
4,427Lot

Price Vs. Estimate

The estimated value ($1,751,707.385) is $228,292.615 (11%) lower than the list price ($1,980,000). This property may be overpriced.

Key pros and cons

Top Pros:
Panoramic Views & Premium Lot: Perched on a hillside, this corner lot offers maximum privacy with only one neighbor and unobstructed panoramic views of open space, mountains, and hills.
Top Cons:
High Association Fees: The property carries a significant monthly association fee of $393.0, which adds to the overall cost of homeownership.

Compared to the nearby listings

Price:$1.98M vs avg $1.44M (+$540,000)81%
Size:2,360 sqft vs avg 2,234 sqft54%
Price/sqft:$839 vs avg $63994%

More Insights

Built in 2023 (3 years old).
Condition: This property was built in 2023, making it virtually brand new. As a former model home, it boasts extensive high-end upgrades, including luxury vinyl flooring, a gourmet kitchen with white cabinetry, quartz countertops, full tile backsplash, and stainless steel appliances (built-in refrigerator, 6-burner stove). Bathrooms feature modern vanities, designer tiles, and glass shower enclosures. All components are new, meeting current quality standards with no deferred maintenance, perfectly aligning with the 'Excellent' criteria.
Year Built
2023
Close
-
List price
$1.98M
Original List price
$1.98M
Price/Sqft
$839
HOA
$393
Days on market
-
Sold On
-
MLS number
OC26005093
Home ConditionExcellent
Features
Excellent View: Bluff, City Lights, Canyon, Park/Greenbelt, Hills, Neighborhood, Panoramic
Patio
ViewBluff,City Lights,Canyon,Park/Greenbelt,Hills,Neighborhood,Panoramic

About this home

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.

H
Heather Hill
Listing Agent

Price History

Date
Event
Price
02/27/24
Sold
$1,680,000
Condition Rating
Excellent

This property was built in 2023, making it virtually brand new. As a former model home, it boasts extensive high-end upgrades, including luxury vinyl flooring, a gourmet kitchen with white cabinetry, quartz countertops, full tile backsplash, and stainless steel appliances (built-in refrigerator, 6-burner stove). Bathrooms feature modern vanities, designer tiles, and glass shower enclosures. All components are new, meeting current quality standards with no deferred maintenance, perfectly aligning with the 'Excellent' criteria.
Pros & Cons

Pros

Panoramic Views & Premium Lot: Perched on a hillside, this corner lot offers maximum privacy with only one neighbor and unobstructed panoramic views of open space, mountains, and hills.
Model Home Status & High-End Upgrades: As a former Pearl Model Home, the property boasts extensive, high-quality upgrades throughout, including luxury vinyl flooring, gourmet kitchen appliances, and designer finishes.
Extensive Outdoor Entertainment: The stunning backyard features a large covered patio, hardscape pavers, turf, mature landscaping, a bocce ball court, and a built-in BBQ bar with a Green Egg smoker and refrigerator.
New Construction & Energy Efficiency: Built in 2023, this modern home includes an 8-panel solar system, offering contemporary design, reduced maintenance, and lower energy costs.
Access to Extensive Community Amenities: Residents enjoy immediate access to the Perch 55+ Pool complex and a wealth of Rancho Mission Viejo amenities, including ten community pools, clubhouses, tennis/pickleball courts, and gyms.

Cons

High Association Fees: The property carries a significant monthly association fee of $393.0, which adds to the overall cost of homeownership.
Modest Lot Size: With a lot size of 4,427 sqft, the property offers a well-designed but relatively compact outdoor space for a single-family home in this price range.
Recent Price Appreciation: Having sold for $1.68M in February 2024 and now listed at $1.98M, the significant price increase in a short period may warrant scrutiny regarding its current market value and potential for future appreciation.
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