23821 Norma Drive, Menifee, California 92587, Menifee, 92587 - 3 bed, 2 bath

23821 Norma Drive, Menifee, California 92587 home-pic-0
ACTIVE$446,000
23821 Norma Drive, Menifee, California 92587
3Beds
2Baths
1,030Sqft
5,227Lot

Price Vs. Estimate

The estimated value ($218,196.99) is $227,803.01 (51%) lower than the list price ($446,000). This property may be overpriced.

Key pros and cons

Top Pros:
Extensive Recent Renovations: The property has undergone a comprehensive remodel within the last four years, including major system updates like plumbing, electrical, roof, HVAC, and dual-pane windows, offering a truly turn-key experience.
Top Cons:
Significant Valuation Discrepancy: The current list price of $446,000 is substantially higher than the estimated property value of $218,196.99, indicating a potential overpricing issue that could deter buyers or prolong market time.

Compared to the nearby listings

Price:$446.0K vs avg $665.0K ($-219,000)7%
Size:1,030 sqft vs avg 2,071 sqft6%
Price/sqft:$433 vs avg $34979%

More Insights

Built in 1943 (82 years old).
Condition: Despite being built in 1943, this property has undergone an extensive and thorough renovation within the last four years. The listing explicitly states 'new plumbing, updated electrical, a new roof, heat pump with a central A/C, water heater, dual-pane windows,' along with 'durable continuous laminate flooring, recessed lighting, updated doors, casings, and baseboards, and a freshly painted interior.' The kitchen features 'higher end wood cabinetry, sleek granite countertops, and an under-mount sink,' and both bathrooms have been 'refinished with modern, tasteful finishes.' These comprehensive updates bring the property to a 'virtually new' standard, aligning perfectly with the 'Excellent' condition criteria for a home extensively renovated within the last 5 years.
Year Built
1943
Close
-
List price
$446K
Original List price
$464K
Price/Sqft
$433
HOA
-
Days on market
-
Sold On
-
MLS number
SW25083787
Home ConditionExcellent
Features
Deck
Patio
ViewNeighborhood

About this home

Welcome to 23821 Norma Drive, an absolutely adorable cottage-style home in Menifee, offering charm, comfort, and modern upgrades throughout. This beautifully remodeled 3-bedroom, 2-bathroom home has been thoroughly updated over the past four years. It is truly turn-key including new plumbing, updated electrical, a new roof, heat pump with a central A/C, water heater, dual-pane windows, and so much more. Inside, you'll find durable continuous laminate flooring, recessed lighting, updated doors, casings, and baseboards, a separate laundry room and a cozy wood-burning fireplace, all complemented by a freshly painted interior that gives the home a bright and inviting feel. The remodeled kitchen features higher end wood cabinetry, sleek granite countertops, and an under-mount sink, creating a functional and attractive space for everyday living. Both full bathrooms have also been refinished with modern, tasteful finishes, completing the home's updated look. Sitting on a fully fenced lot with potential for ADU build out on one of the existing bedrooms or on the large lot itself. It has plenty of parking, along with wood deck and two patio spaces, this home is as practical as it is charming.

Condition Rating
Excellent

Despite being built in 1943, this property has undergone an extensive and thorough renovation within the last four years. The listing explicitly states 'new plumbing, updated electrical, a new roof, heat pump with a central A/C, water heater, dual-pane windows,' along with 'durable continuous laminate flooring, recessed lighting, updated doors, casings, and baseboards, and a freshly painted interior.' The kitchen features 'higher end wood cabinetry, sleek granite countertops, and an under-mount sink,' and both bathrooms have been 'refinished with modern, tasteful finishes.' These comprehensive updates bring the property to a 'virtually new' standard, aligning perfectly with the 'Excellent' condition criteria for a home extensively renovated within the last 5 years.
Pros & Cons

Pros

Extensive Recent Renovations: The property has undergone a comprehensive remodel within the last four years, including major system updates like plumbing, electrical, roof, HVAC, and dual-pane windows, offering a truly turn-key experience.
Modernized Interior Aesthetics: Features such as durable continuous laminate flooring, recessed lighting, updated doors, and a freshly painted interior provide a contemporary and inviting living environment.
Upgraded Kitchen and Bathrooms: The kitchen boasts higher-end wood cabinetry, sleek granite countertops, and an under-mount sink, complemented by tastefully refinished modern bathrooms.
ADU Potential & Flexible Outdoor Space: The fully fenced, large lot offers significant potential for an Accessory Dwelling Unit (ADU) and ample parking, along with multiple patio spaces for outdoor living.
Charming Cottage Style: The home retains an 'absolutely adorable cottage-style' appeal, which can attract buyers seeking character and a unique aesthetic.

Cons

Significant Valuation Discrepancy: The current list price of $446,000 is substantially higher than the estimated property value of $218,196.99, indicating a potential overpricing issue that could deter buyers or prolong market time.
Original Construction Age: Despite recent extensive updates, the home's original construction year of 1943 means potential buyers might have concerns about the underlying structural integrity or other components not addressed in the recent remodel.
Limited Interior Square Footage: With 1030 square feet for a 3-bedroom home, the interior living space is relatively compact, which may not meet the needs of all prospective buyers, particularly larger families.

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