98 Pasto Rico, Rancho Santa Margarita, California 92688, Rancho Santa Margarita, 92688 - 2 bed, 2 bath
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Rancho Santa Margarita, California 92688
This Meticulously Maintained Carriage-Style Condo is a Prime Investment Opportunity listed at $599,000—positioned well below the $615,000 Fair Market Value by 2%. This valuation gap offers $16,000 in Instant Equity for a turnkey asset. Boasting a Good Condition Rating, the interior features a Granite Kitchen, Luxury Vinyl Flooring, and a private Deck with no neighbors above or below. Located near the 9/10 rated Arroyo Vista Middle School, this home combines financial value with a premium lifestyle. It is perfect for Owner-Occupants or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 98 Pasto Rico Subject | $599,000* List Price | 2 | 2 | 1,032 | $596 | - |
A 207 Pasto Rico Sold | $643,000 | 2 | 3 | 1,091 | $589 | 0.1 mi |
B 32 Via Contento Sold | $537,500 | 2 | 2 | 864 | $622 | 0.2 mi |
C 61 Rabano Sold | $635,000 | 2 | 2 | 1,051 | $604 | 0.4 mi |
D 57 Rabano Sold | $575,000 | 2 | 2 | 1,051 | $547 | 0.4 mi |
E 63 Encantado Canyon Sold | $745,000 | 2 | 2 | 1,230 | $606 | 0.4 mi |
F 39 Pasto Rico Sold | $699,999 | 2 | 3 | 1,091 | $642 | 0.1 mi |
G 113 Pomelo Active | $659,000 List Price | 2 | 2 | 934 | $706 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and features significant modern updates that elevate it beyond its 1989 build date. Notable improvements include luxury vinyl flooring, an updated kitchen with granite countertops, white cabinetry, and stainless steel appliances, as well as high-value system upgrades like a newer HVAC, tankless water heater, and completed community repiping. While the overall structure is over 30 years old, the interior condition and mechanical maintenance meet the criteria for a 'good' rating.
Middle School: Arroyo Vista Middle School (9/10).
The unique carriage-style design ensures no neighbors are located above or below the living quarters, providing a level of quiet and privacy rarely found in traditional condominium layouts.
The property features a newer HVAC system, a tankless water heater, and benefits from a completed community-wide repiping project, offering buyers long-term peace of mind and reduced maintenance risk.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =108454, other record lot size in square feet = 2674.
The unit includes only a one-car attached garage, which may present a significant challenge for multi-vehicle households or guest parking within the community.
The association fee of $577 per month is relatively high for a 1,032-square-foot condo, which could impact overall affordability and the debt-to-income ratio for prospective buyers.
BACK ON THE MARKET AT NO FAULT OF SELLER! BUYER LOST THEIR JOB AND COULD NO LONGER PERFORM. This meticulously cared-for carriage-style condo features an interior sweeping stairway leading to a spacious single-level floor plan. All living areas are located on one level above the attached one-car garage, offering the added benefit of no one above or below. Step inside to dramatic high ceilings and an abundance of natural light that fills the open floor plan. The living room is enhanced by a cozy fireplace and sliding doors that lead to a sunny deck, an ideal spot to unwind at the end of the day. Designed with both style and function in mind, the kitchen showcases granite counters, crisp white cabinets, stainless steel appliances, a pantry, and a glass tile backsplash. The generously sized dining area, just off the kitchen, provides flexibility for everyday meals and special occasions alike. Vaulted ceilings enhance the sense of space in the inviting primary suite, complete with a walk-in closet and a dressing area with dual sinks and a shower-tub combination. The secondary bedroom is perfect for guests, a home office, or a den. Additional highlights include Luxury Vinyl flooring, a newer HVAC system, a tankless water heater, and a community-wide repiping was completed. Located in the desirable Serabrisa community, residents enjoy a beautifully updated pool, spa, and BBQ area. Just across from Arroyo Vista Park, and close to Tijeras Creek Golf Course, shopping, dining, schools, and trails. With SAMLARC membership, enjoy access to Lago Santa Margarita Beach Club, multiple pools, sports courts, scenic hiking and biking trails, and year-round community events.
No exterior & parking available.
Grades K-5 • 0.0 mi
Grades 6-8 • 0.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,032 | 1,027 | 51% |
| Lot Size | 108,454 | 18,514 | 93% |
| Price | $599.0K | $650.0K | 43% |
| Price per sq ft | $580 | $655 | 15% |
| Built year | 1989 | 1990 | 42% |
| HOA | $577.0 | $452 | 94% |
| Days on market | 55 | 170 | 6% |
Mar 18, 2026
$599,000
$615,000
-3% Price Drop
Initial Listing
Feb 26, 2026
$615,000
Initial Listing
Jun 12, 2009
$260,000
Public Record
Aug 4, 2005
$405,000
Public Record
Dec 6, 2001
$203,500
Public Record
Jun 30, 1994
$115,000
Public Record