1105 Monroe, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 3 bed, 2 bath
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Lake Elsinore, California 92530
This property presents a High-Potential Investment Opportunity with a List Price of $410,000—positioned well below the $414,735 Fair Market Value by 1%. This valuation gap offers $4,735 in Instant Equity. With a Condition Rating of 5, the home requires significant modernization, offering a clear path for value-add renovations. Located near the Launch Pointe Recreation Area, this asset provides strong rental appeal for Buy-and-Hold Investors or first-time buyers seeking a project to build long-term equity.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1105 Monroe Subject | $410,000* List Price | 3 | 2 | 1,125 | $369 | - |
A 1127 Monroe Street Active Under Contract | $365,000 List Price | 2 | 2 | 875 | $417 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1980 (44 years old) with no evidence of interior updates. The kitchen features original wood cabinetry, dated tile countertops, and aging appliances that require a full rehab. While solar panels have been added, the overall interior condition and age of systems fall into the poor category based on the need for significant modernization.
Situated just a 10-minute walk from Launch Pointe Recreation Area, the property offers exceptional access to lake activities including boating, fishing, and jet skiing.
The fully concreted backyard provides a hassle-free outdoor space for entertaining, while the absence of HOA fees significantly reduces monthly carrying costs.
Excellent proximity to Highway 74 (Ortega Highway) allows for a manageable one-hour commute to Orange County, making it ideal for regional professionals.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1125, other record living area = 1587.
With a lot size of only 3,485 square feet, the property offers minimal green space and limited potential for future structural expansions or private gardening.
At 1,125 square feet for a three-bedroom configuration, the interior living spaces may feel restrictive for larger families or those seeking spacious common areas.
!!!ENJOY THE LAKE LIFESTYLE!!! THESE 3 BEDROOMS, 2 BATH HOME IS JUST A 10 MINUTE WALK TO LAUNCH POINTE RECREATION AREA, WHERE YOU CAN ENJOY THE LAKE, BOATING, JET SKING, FISHING, CAMPING, AND OUTDOOR FUN. IT'S ALSO WITHIN WALKING DISTANCE OF THE LOCAL HIGH SCHOOL AND OFFERS QUICK ACCESS TO HIGHWAY 74 (ORTEGA HIGHWAY), MAKING ORANGE COUNTY ABOUT AN HOUR. BACK YARD IS FULLY CONCRETE OFFERS A LOW MAINTENANCE OUTDOOR SPACE READY FOR BBQs, GATHERINGS, AND RELAXING EVENINGS. NO HOA NOT HAVING ADDITIONAL MONTHLY FEES. THIS PROPERTY IS ALL ABOUT LOCATION, CONVENIENCE AND LIFESTYLE.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 1,125 | 1,973 |
| Lot Size | 3,485 | 6,970 |
| Price | $410.0K | $601.5K |
| Price per sq ft | $364 | $293 |
| Built year | 1980 | 2004 |
| HOA | $0 | $146 |
| Days on market | 15 | 64 |
Jul 7, 2026
$410,000
Initial Listing
Jun 5, 1997
$36,000
Public Record