22060 Village Way, Canyon Lake, California 92587, Canyon Lake, 92587 - 4 bed, 6 bath
22060 Village Way
Canyon Lake, California 92587
Property Price
SUMMARY
Analysis of 22060 Village Way, Canyon Lake, California 92587 reveals a Prime Investment Opportunity with a current list price of $1,600,000—significantly undercutting the $1,725,633 Fair Market Value by 7%. This valuation gap indicates a +$125,633 Instant Equity potential for buyers. 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 Canyon Lake 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
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 22060 Village Way Subject | $1,600,000* List Price | 4 | 6 | 4,781 | $361 | - |
A 22430 Canyon Lake Drive S Sold | $1,300,000 | 5 | 4 | 3,682 | $353 | 0.3 mi |
B 23160 Compass Drive Active | $1,449,000 List Price | 6 | 4 | 4,270 | $339 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is new construction or fully renovated.
This property has undergone extensive and recent renovations, as explicitly stated in the description and evidenced by the images. The kitchen features modern white shaker cabinets, granite countertops, stainless steel appliances, and luxury vinyl plank flooring, all appearing virtually new. Most bathrooms are also updated with modern vanities, fixtures, and finishes. Key upgrades like newer HVAC units, solar panels, and improved irrigation further support a classification of 'excellent' condition, indicating minimal physical depreciation and meeting current quality standards.
PROSSTRENGTHS & OPPORTUNITIES
- Extensive Remodel & Modern Upgrades
The home has been beautifully remodeled with luxury vinyl plank flooring, a remodeled kitchen, newer HVAC units, solar panels, and improved irrigation, offering a truly move-in-ready and energy-efficient experience.
- Prime Lake-Adjacent Location & Views
Situated near the Main Lake in Canyon Lake, the property offers lake views from various areas and is moments from the main boat launch and a nearby park, enhancing its appeal for lake enthusiasts.
- Luxurious & Functional Layout
Featuring two spacious primary suites with private balcony access, and two additional bedrooms with private en-suite bathrooms, the home provides exceptional comfort and privacy for residents and guests. A dedicated downstairs bar and living area further enhance entertaining capabilities.
CONSRISKS & DEFICIENCIES
- High Monthly Association Fees
The property is subject to a significant monthly association fee of $362.00, which is a recurring cost that potential buyers must factor into their budget.
- Maintenance Demands of Luxury Features
The extensive luxury features, including a pool, spa, and elaborate landscaping, will require ongoing maintenance, time, and financial investment from the homeowner.
- Specific Architectural Style
The Mediterranean architectural style, while elegant, may not appeal to all potential buyers, potentially narrowing the market for resale compared to more universally preferred styles.
About 22060 Village Way
Welcome to Village Way where luxury meets lake life! This beautifully remodeled Mediterranean style home is located near the Main Lake in Canyon Lake. Designed with both elegance and functionality in mind, this home offers a thoughtfully curated layout and upgrades that make everyday living and entertaining effortless. Step inside to soaring ceilings highlighted by a crystal chandelier, luxury vinyl plank flooring flowing into the expansive great room and cozy fireplace. The remodeled kitchen is the heart of the home, featuring an island, granite countertops, stainless steel appliances and shutters framing a lake view from areas of the home. The property offers two spacious primary suites, each with walk in closets and private balcony access perfect for relaxing and enjoying the surrounding scenery. Two additional bedrooms feature recently added luxury vinyl plank flooring and private en-suite bathrooms, ideal for family or guests. Downstairs offers additional flexible living space with a bar, open living area, and a convenient half bath ideal for entertaining or gatherings. Outdoor living shines with a recently refinished Pebble Tec pool and spa, built-in firepit, refreshed landscaping and a expansive deck ideal for entertaining or unwinding. An oversized tandem garage provides space for multiple vehicles and a golf cart garage, along with potential boat or RV parking. Additional upgrades newer HVAC units, luxury vinyl planking, solar panels, improved irrigation, offering a truly move-in-ready experience. Located just moments from the main boat launch and nearby park, residents enjoy all that Canyon Lake has to offer: a 384-acre waterski and fishing lake, golf course, parks, beaches, pools, equestrian center, restaurants, community events, and golf-cart-friendly streets.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1999
- Lot Size
- 6,970 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 6 (6 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $362.0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 62% |
| Baths | 6.0 | 3.0 | 97% |
| Square foot | 4,781 | 2,213 | 96% |
| Lot Size | 6,970 | 8,276 | 23% |
| Price | $1.60M | $685.0K | 94% |
| Price per sq ft | $335 | $348 | 42% |
| Built year | 1999 | 1987 | 70% |
| HOA | $362.0 | $350 | 91% |
| Days on market | 50 | 189 | 6% |
Pricing History
Listed for Sale
Jan 16, 2026
$1,600,000
Initial Listing
Sold
Mar 10, 2022
$1,265,000
Public Record
Sold
Oct 9, 2020
$1,059,000
Public Record
Sold
Oct 7, 2003
$799,000
Public Record
Sold
Dec 29, 1999
$482,500
Public Record