27981 Rainbow Drive, Lake Arrowhead, California 92352, Lake Arrowhead, 92352 - 3 bed, 2 bath

27981 Rainbow Drive, Lake Arrowhead, California 92352 home-pic-0
ACTIVE$485,000
27981 Rainbow Drive, Lake Arrowhead, California 92352
3Beds
2Baths
1,184Sqft
6,635Lot

Price Vs. Estimate

The estimated value ($219,308.555) is $265,691.445 (54%) lower than the list price ($485,000). This property may be overpriced.

Key pros and cons

Top Pros:
Full Lake Rights: The property includes coveted full lake rights, granting exclusive access to Lake Arrowhead for swimming, kayaking, paddleboarding, and boating, a significant advantage in this community.
Top Cons:
Significant Price Discrepancy: The listing price of $485,000 is substantially higher than the estimated property value of $219,308.55, which may raise concerns about market valuation or potential overpricing.

Compared to the nearby listings

Price:$485.0K vs avg $675.0K ($-190,000)19%
Size:1,184 sqft vs avg 1,933 sqft10%
Price/sqft:$410 vs avg $35168%

More Insights

Built in 1983 (42 years old).
Condition: Built in 1983, this property has been 'thoughtfully updated in the last few years,' making it move-in ready. The kitchen features newer stainless steel appliances and freshly painted cabinets, though the white square tile countertops are a bit dated. Bathrooms appear updated with modern vanities and subway tile. Flooring throughout is modern LVP/laminate, and lighting includes recessed fixtures and a contemporary ceiling fan. The heating system is Wi-Fi controlled central heat, and the exterior boasts low-maintenance Trex decking. While not a full, top-to-bottom renovation to 'excellent' standards (e.g., kitchen countertops), the extensive recent updates and overall condition place it firmly in the 'good' category, requiring no immediate renovations.
Year Built
1983
Close
-
List price
$485K
Original List price
$530K
Price/Sqft
$410
HOA
-
Days on market
-
Sold On
-
MLS number
24469427
Home ConditionGood
Features
Good View: Trees/Woods
Deck
ViewTrees/Woods

About this home

PRICE IMPROVEMENT! Motivated Seller! - Arrowhead Woods Oasis with Full Lake Rights. Discover this stunning mountain compound in the heart of Lake Arrowhead, offering sunlit views from every room and a seamless blend of indoor and outdoor living. This beautiful property, thoughtfully updated in the last few years, provides a harmonious escape surrounded by towering pine trees and the tranquility of nature. The home comes fully furnished and ready for immediate enjoyment or as a turnkey short-term rental investment, complete with a successful STR permit. Every detail has been considered, such as a washer, dryer, Wi-Fi controlled central heat, electric fireplace, TV, dishware, brand new garbage disposal, newer refrigerator, lighting, nightstands, patio table, chairs and even a barbecue. The driveway has been upgraded with added square footage for the winter months. For outdoor enthusiasts, the property also includes two kayaks for enjoying the pristine lake waters which can be entered at the nearby private Burnt Mill Beach Club adjacent to the famous Lake Arrowhead Brewing Co. The all-weather Trex wraparound decks are practical, requiring no maintenance or repainting. These decks create perfect spaces for reading, meditating, or hosting outdoor dinner parties under the canopy of majestic pine trees. Inside, natural light floods every room, filling the home with warm, fresh, healing mountain air. The dining room table seats 6 and the kitchen opens onto a sitting deck, ideal for serene mornings or lively gatherings. The cozy family room includes a half bath downstairs and three inviting upstairs bedrooms, full bathroom, including a Primary Suite with a private deck designed for a future Jacuzzi, offering spaces to relax and recharge. The property's location, location, location is unmatched. Nestled in Arrowhead Woods, it includes coveted Lake Rights, granting access to the private beaches and lake activities like paddle board, boating and waterskiing. A short stroll leads you to Lake Arrowhead Village, filled with charming restaurants, supermarket, Tesla charging bays, live music, shopping, banking, post office and year-round activities. For adventure enthusiasts, Sky Park is just a mile away, and Snow Valley Ski Resort is a quick drive to the east. With a total of 5 lakes in the surrounding areas, you will always have activities and new places to discover. With its proximity to Hwy 173 and Hwy 18, this home ensures easy year-round access (and snow plowed main roads) and an effortless commute down the hill. Surrounded by hiking trails, enchanting trees, and the serene waters of Lake Arrowhead, this property is the ultimate haven for those seeking both connection to nature and the vibrancy of village life.

Nearby schools

4/10
Lake Arrowhead Elementary School
Public,PK-52.1mi
4/10
Charles Hoffman Elementary School
Public,K-56.4mi
3/10
Valley Of Enchantment Elementary School
Public,K-56.4mi
/10
Rim Virtual
Public,K-80.8mi
5/10
Mary P. Henck Intermediate School
Public,6-81.7mi
6/10
Rim Of The World Senior High School
Public,9-121.3mi
Condition Rating
Good

Built in 1983, this property has been 'thoughtfully updated in the last few years,' making it move-in ready. The kitchen features newer stainless steel appliances and freshly painted cabinets, though the white square tile countertops are a bit dated. Bathrooms appear updated with modern vanities and subway tile. Flooring throughout is modern LVP/laminate, and lighting includes recessed fixtures and a contemporary ceiling fan. The heating system is Wi-Fi controlled central heat, and the exterior boasts low-maintenance Trex decking. While not a full, top-to-bottom renovation to 'excellent' standards (e.g., kitchen countertops), the extensive recent updates and overall condition place it firmly in the 'good' category, requiring no immediate renovations.
Pros & Cons

Pros

Full Lake Rights: The property includes coveted full lake rights, granting exclusive access to Lake Arrowhead for swimming, kayaking, paddleboarding, and boating, a significant advantage in this community.
Turnkey & Income Potential: Offered fully furnished with a successful Short-Term Rental (STR) permit, making it ready for immediate enjoyment or as a lucrative investment property.
Prime Location & Accessibility: Nestled in Arrowhead Woods, it's a short stroll to Lake Arrowhead Village amenities (restaurants, shopping, entertainment) and offers easy year-round access via Hwy 173 and Hwy 18 with snow-plowed main roads.
Recent Updates & Amenities: Thoughtfully updated in the last few years with newer appliances, lighting, and a brand new garbage disposal, plus included items like kayaks and a barbecue, enhancing immediate usability.
Outdoor Living & Natural Views: Features sunlit views from every room and low-maintenance Trex wraparound decks, providing ideal spaces for relaxation, entertaining, and enjoying the serene pine tree surroundings.

Cons

Significant Price Discrepancy: The listing price of $485,000 is substantially higher than the estimated property value of $219,308.55, which may raise concerns about market valuation or potential overpricing.
Lack of Air Conditioning: The property description only mentions 'Wi-Fi controlled central heat,' indicating a potential absence of an air conditioning system, which could be a drawback during warmer periods.
Age of Construction: Built in 1983, the property is over 40 years old. While updated, the underlying structure may present older systems or require more maintenance compared to newer constructions.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state