22587 Canyon Lake Drive S, Canyon Lake, California 92587, Canyon Lake, 92587 - 3 bed, 2 bath
22587 Canyon Lake Drive S
Canyon Lake, California 92587
Property Price
SUMMARY
Analysis of 22587 Canyon Lake Drive S, Canyon Lake, California 92587 reveals a Fairly Priced Property with a current list price of $619,000 aligned with the estimated $619,000 Fair Market Value. This represents a stable investment opportunity at market rate. 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 |
|---|---|---|---|---|---|---|
★ 22587 Canyon Lake Drive S Subject | $619,000* List Price | 3 | 2 | 1,729 | $358 | - |
A 30809 Burning Tree Drive Sold | $685,000 | 3 | 2 | 1,565 | $438 | 0.6 mi |
B 30848 Long Point Drive Sold | $642,000 | 3 | 2 | 1,666 | $385 | 0.8 mi |
C 22683 Lighthouse Drive Sold | $629,900 | 3 | 2 | 1,662 | $379 | 0.4 mi |
D 30782 Long Point Drive Sold | $645,000 | 3 | 2 | 1,820 | $354 | 0.9 mi |
E 30732 Early Round Drive Sold | $665,000 | 3 | 3 | 2,060 | $323 | 0.3 mi |
F 31215 Emperor Drive Sold | $690,000 | 3 | 2 | 1,918 | $360 | 0.9 mi |
G 22751 Running Rabbit Court Active | $599,999 List Price | 3 | 2 | 1,721 | $349 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is new construction or fully renovated.
Despite being built in 1979, this property has clearly undergone an extensive and very recent renovation, bringing it to 'virtually new' condition. The kitchen features modern white shaker cabinets, new stainless steel appliances (including a stylish blue dishwasher), white solid-surface countertops, and a contemporary dark subway tile backsplash. Bathrooms are equally updated with new vanities, modern fixtures, sleek tiling, and glass shower enclosures. Throughout the home, there's new light wood-look laminate flooring, fresh white paint, modern light fixtures (including ceiling fans), and new dual-pane windows, as mentioned in the description. The cable railings and updated fireplace facade also contribute to a modern aesthetic. All visible components meet current quality standards with no signs of deferred maintenance, aligning perfectly with the 'excellent' criteria for a property extensively renovated within the last 5 years.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Community Location
The home is strategically located on Canyon Lake Drive South, placing residents at the center of community events, parades, and holiday festivities, fostering a vibrant and engaging lifestyle.
- Extensive Gated Community Amenities
Residents benefit from exclusive access to a wide array of private amenities within the gated Canyon Lake community, including a 383-acre lake, boating, beaches, golf, tennis, pickleball, a pool, clubhouse, and an equestrian center.
- Key Modern Upgrades
The property features new dual-pane windows and a whole-house water filtration system, enhancing energy efficiency, comfort, and overall move-in readiness.
CONSRISKS & DEFICIENCIES
- Property Age & Unspecified Updates
Built in 1979, while some upgrades are noted, the description does not specify updates to other major systems (e.g., HVAC, plumbing, electrical) or aesthetic renovations in areas like the kitchen or bathrooms, which may be original and require future investment.
- Recurring Association Fees
The property is subject to a monthly association fee of $350, which represents an ongoing cost that buyers must factor into their budget.
- Recent Price Reductions
The property has undergone multiple price reductions from its original list price of $635,000 to the current $619,000, which could suggest initial overpricing or a slower market response, potentially raising buyer questions about its true market value.
About 22587 Canyon Lake Drive S
Seller will offer an interest rate buy-down! Please contact listing agent for details. Be part of the action in Canyon Lake! This 3-bed, 2-bath, 1,729 sq ft home for sale sits on Canyon Lake Drive South— the hub of holiday fun with parades, lights, and community events right at your doorstep. Featuring new dual-pane windows and a whole-house water filtration system, the home is move-in ready with efficiency and upgrades. A bright, open layout, spacious bedrooms, and a 7,800+ sq ft lot offer room for entertaining or future outdoor projects. Residents enjoy access to the gated Canyon Lake community’s amenities: a private 383-acre lake, boating, beaches, golf, tennis, pickleball, pool, clubhouse, and equestrian center. With similar Riverside County real estate priced higher, this property offers exceptional value. Don’t miss your chance to own in Canyon Lake — where every season brings a reason to celebrate.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1979
- Lot Size
- 7,841 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $350.0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 3.0 | 49% |
| Square foot | 1,729 | 2,198 | 33% |
| Lot Size | 7,841 | 8,276 | 48% |
| Price | $619.0K | $685.0K | 31% |
| Price per sq ft | $358 | $349 | 57% |
| Built year | 1979 | 1987 | 27% |
| HOA | $350.0 | $350 | 50% |
| Days on market | 204 | 190 | 61% |
Pricing History
Listed for Sale
Oct 4, 2025
$619,000
$624,900
-1% Price Drop
Initial Listing
Price Change
Sep 20, 2025
$624,900
$625,000
+0% Price Increase
Initial Listing
Price Change
Aug 29, 2025
$625,000
$629,000
-1% Price Drop
Initial Listing
Price Change
Aug 21, 2025
$629,000
$635,000
-1% Price Drop
Initial Listing
Price Change
Aug 15, 2025
$635,000
Initial Listing