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55 Tradition Lane, Rancho Santa Margarita, California 92688, Rancho Santa Margarita, 92688 - 3 bed, 3 bath

55 Tradition Lane, Rancho Santa Margarita, California 92688 home-pic-0
ACTIVE$1,199,999
55 Tradition Lane, Rancho Santa Margarita, California 92688
3Beds
3Baths
1,835Sqft
3,713Lot

Price Vs. Estimate

The estimated value ($952,320.395) is $247,678.605 (20%) lower than the list price ($1,199,999). This property may be overpriced.

Key pros and cons

Top Pros:
Exceptional School Proximity: Located within walking distance to highly-rated Las Flores Elementary and Middle Schools (both 9/10 GreatSchools rating), a significant draw for families.
Top Cons:
Lack of Scenic Views: The property explicitly states 'View: None,' which may be a disadvantage compared to other homes in the area that offer desirable views (e.g., hills, city lights, golf course).

Compared to the nearby listings

Price:$1.20M vs avg $1.23M ($-25,001)46%
Size:1,835 sqft vs avg 1,977 sqft42%
Price/sqft:$654 vs avg $63766%

More Insights

Built in 1998 (27 years old).
Condition: The property, built in 1998, is described as 'beautifully upgraded,' which is supported by the images. The kitchen features modern stainless steel appliances, granite countertops, and well-maintained dark wood cabinetry. Bathrooms also show updated vanities with granite and clean tiling. Hardwood flooring in the main living areas and clean carpeting in bedrooms contribute to a move-in ready condition. While not a brand-new renovation, the updates appear to be within the last 5-15 years, ensuring functionality and a pleasant aesthetic without immediate renovation needs.
Year Built
1998
Close
-
List price
$1.2M
Original List price
$1.25M
Price/Sqft
$654
HOA
$113
Days on market
-
Sold On
-
MLS number
OC25069974
Home ConditionGood
Features
Patio
View-

About this home

Welcome to 55 Tradition Lane, a beautifully upgraded home situated on a premium corner lot in the private Traditions tract of the desirable Las Flores community. This residence offers 3 bedrooms plus a spacious loft, which was a builder option for a 4th bedroom, providing flexibility to suit your needs. This 1,835 square foot home features 3 bathrooms and sits on a 3,711 square foot lot. The corner lot location allows for an abundance of natural light to fill the interior spaces, creating a warm and inviting atmosphere. Residents of this home will appreciate its proximity to top-rated schools, including Las Flores Elementary and Las Flores Middle School, both rated 9/10 by GreatSchools and located just 0.2 and 0.1 miles away, respectively. The community offers a range of amenities, including parks, trails, and recreational facilities, providing an exceptional lifestyle in Rancho Santa Margarita. Don’t miss this opportunity to own a stunning home in a prime location with ample natural light and versatile living spaces!

Nearby schools

7/10
Las Flores Elementary School
Public,•K-5•0.1mi
Condition Rating
Good
The property, built in 1998, is described as 'beautifully upgraded,' which is supported by the images. The kitchen features modern stainless steel appliances, granite countertops, and well-maintained dark wood cabinetry. Bathrooms also show updated vanities with granite and clean tiling. Hardwood flooring in the main living areas and clean carpeting in bedrooms contribute to a move-in ready condition. While not a brand-new renovation, the updates appear to be within the last 5-15 years, ensuring functionality and a pleasant aesthetic without immediate renovation needs.
Pros & Cons

Pros

Exceptional School Proximity: Located within walking distance to highly-rated Las Flores Elementary and Middle Schools (both 9/10 GreatSchools rating), a significant draw for families.
Desirable Community & Amenities: Situated in the private Traditions tract within the sought-after Las Flores community, offering access to parks, trails, and recreational facilities.
Flexible Living Space: Features 3 bedrooms plus a spacious loft, providing versatile options for a 4th bedroom, home office, or additional living area.
Abundant Natural Light: Positioned on a premium corner lot, ensuring ample natural light throughout the interior spaces.
Upgraded Condition: Described as a 'beautifully upgraded home,' suggesting a well-maintained and aesthetically pleasing interior.

Cons

Lack of Scenic Views: The property explicitly states 'View: None,' which may be a disadvantage compared to other homes in the area that offer desirable views (e.g., hills, city lights, golf course).
Modest Lot Size: With a 3,711 sqft lot, it offers limited outdoor space, potentially less appealing to buyers seeking larger yards or extensive landscaping opportunities.
Recent Price Reduction: The property has undergone a price reduction from its original list price, which could signal a perceived overvaluation or slower market interest.

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