28042 Calle Vallarta, Menifee, California 92585, Menifee, 92585 - 2 bed, 2 bath
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Menifee, California 92585
This High-Potential Investment Opportunity is listed at $488,000, positioned above the $450,342 Fair Market Value. While priced above market, the property features a rare 2.75% VA assumable loan and an adjacent lot, providing unique value in a 55+ community. With a Fair Condition Rating, the home offers a functional layout with mountain views and an enclosed patio. This asset is best suited for Buy-and-Hold Investors or Owner-Occupants seeking a long-term, low-interest financing strategy in an age-restricted setting.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 28042 Calle Vallarta Subject | $468,000* List Price | 2 | 2 | 974 | $435 | - |
A 27708 Grand Avenue Sold | $414,900 | 2 | 1 | 865 | $480 | 0.2 mi |
B 28050 Bavaria Drive Sold | $370,000 | 2 | 2 | 1,065 | $347 | 0.2 mi |
C 27780 Hillpointe Drive Sold | $480,000 | 2 | 2 | 927 | $518 | 0.3 mi |
D 27776 Hillpointe Sold | $505,000 | 3 | 2 | 1,207 | $418 | 0.3 mi |
E 27811 Hillpointe Drive Sold | $515,000 | 3 | 2 | 1,207 | $427 | 0.2 mi |
F 28355 Via Cascadita Sold | $390,000 | 2 | 2 | 1,116 | $349 | 0.3 mi |
G 27968 Red Dawn Sold | $407,000 | 2 | 1 | 865 | $471 | 0.4 mi |
H 27958 Cactus Flower Pending | $439,000 List Price | 2 | 2 | 927 | $474 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1990 (34 years old), the property appears well-maintained but remains in mostly original condition. The bathrooms feature dated 1990s cabinetry and fixtures, and the overall interior lacks recent renovations, placing it in the 'Fair' category as it is functional but requires cosmetic updates to meet modern standards.
The property features a rare 2.75% VA assumable loan option, providing a significant financial advantage and lower monthly payments for qualified buyers in the current interest rate environment.
The inclusion of an adjacent lot is a unique find in a 55+ community, offering exceptional privacy and additional outdoor space for gardening or entertaining that is seldom available in age-restricted developments.
The home boasts beautiful mountain views and includes an enclosed patio, enhancing the living experience by providing a tranquil setting for year-round enjoyment.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =3920, other record lot size in square feet = 5227.
At just 974 square feet, the interior living space is relatively compact, which may be a drawback for buyers transitioning from larger family homes or those requiring more storage.
As a 55+ age-restricted property, the potential resale market is limited to a specific demographic, which can result in a longer time on market compared to non-restricted residential areas.
VA assumable loan option 2.75% interest rate. VA/buyer must qualify with current mortgage lender to participate. RARE OPPORTUNITY IN A 55+ COMMUNITY! This unique property offers a well-maintained 2-bedroom, 2-bath home PLUS an adjacent lot, providing additional outdoor space that is seldom available in age-restricted communities. Whether you're looking for extra room to garden, entertain, relax outdoors, or simply enjoy added privacy, this property presents a distinctive ownership opportunity. Inside, you'll find a functional open-concept layout with comfortable living and dining areas, spacious bedrooms, abundant closet space, central heating and air conditioning, and an attached garage with washer and dryer hookups. The enclosed patio offers additional usable space and a comfortable setting for year-round enjoyment. The neighboring lot is included in the sale and must be purchased together with the residence. This creates a larger overall property footprint compared to many homes in the community. Conveniently located near shopping, dining, medical facilities, and everyday services, this home combines comfort, practicality, and a rare land component that is difficult to find. Buyer and buyer's agent are advised to independently verify all information, including square footage, permits, lot use, HOA information, and property condition.
No exterior & parking available.
Grades K-5 • 1.7 mi
Grades 6-8 • 0.4 mi
Grades 7-8 • 4.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 974 | 2,007 |
| Lot Size | 8,279 | 7,405 |
| Price | $468.0K | $585.6K |
| Price per sq ft | $480 | $286 |
| Built year | 1990 | 2005 |
| HOA | $74.0 | $93 |
| Days on market | 63 | 60 |
Jun 24, 2026
$468,000
$488,000
-4% Price Drop
Initial Listing
May 31, 2026
$488,000
$548,000
-11% Price Drop
Initial Listing
May 23, 2026
$548,000
$388,000
+41% Price Increase
Initial Listing
May 20, 2026
$388,000
Initial Listing