292 N Fairway, Lake Arrowhead, California 92352, Lake Arrowhead, 92352 - 4 bed, 4 bath
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Lake Arrowhead, California 92352
This Spacious Mountain Retreat is a Strong Value Opportunity, listed at $850,000—positioned well below the $891,004 Fair Market Value by 4%. This valuation gap offers $41,004 in Instant Equity. Featuring a Good Condition Rating, the home includes a fully finished basement studio with proven rental income potential, solar panels, and an EV charger. Situated on a half-acre lot with coveted Lake Rights, this property is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a versatile, income-generating mountain residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 292 N Fairway Subject | $798,000* List Price | 4 | 4 | 3,600 | $221 | - |
A 183 Chipmunk Sold | $1,000,000 | 6 | 6 | 4,265 | $234 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 2000 and meticulously maintained by the original owners, this home is in move-in ready condition. While the interior aesthetics (honey oak cabinetry and brickwork) reflect its 24-year age, the property features significant modern system upgrades including a solar panel system and an EV charger. The presence of hardwood floors throughout and a fully finished, income-generating basement studio further supports a 'Good' rating over 'Fair'.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 21600, living area = 3600.
The fully finished basement studio apartment with a separate entrance, kitchenette, and proven short-term rental history provides excellent potential for supplemental income or multigenerational living.
Located in the prestigious Summit neighborhood on a level-entry half-acre lot, this property includes highly desirable Lake Rights, offering exclusive access to Lake Arrowhead amenities.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3600, other record living area = 3482.
The local elementary schools associated with the property have relatively low ratings (3 and 4), which may be a drawback for families prioritizing high-performing educational institutions.
With living spaces distributed across four distinct levels—including a loft and a basement—the vertical floor plan may pose accessibility challenges for some buyers or those preferring a more traditional layout.
Nestled among towering pines & majestic oaks on a wooded half-acre lot in Lake Arrowhead’s prestigious Summit neighborhood, this custom-built home with coveted LAKE RIGHTS offers the perfect blend of mountain charm, comfort, & versatility. Lovingly maintained by the original owners, the property features spacious interiors, abundant natural light & peaceful forest surroundings. The main level includes an office/study with custom built-in bookshelves, formal dining room, and spacious kitchen with an island, walk-in pantry, abundant cabinetry, & sunny breakfast nook. The living room features a floor-to-ceiling brick wood-burning fireplace and a wall of windows that brings the outdoors in. Sliding glass doors from the living room and kitchen open to an expansive deck perfect for outdoor dining & relaxing among the trees. Upstairs, the spacious loft includes an artist’s studio with a utility sink & built-in cabinetry, plus additional flex space ideal for a game room, fitness area or creative retreat. The lower level hosts the primary suite with deck access, walk-in closet, & ensuite bath with soaking tub & separate shower. Three additional spacious bedrooms, a full bathroom, & laundry room provide comfortable accommodations for family and guests. The fully finished basement has been transformed into a private studio apartment with its own entrance, ideal for guests, multigenerational living, or rental income potential. Features include a fireplace, kitchenette, French-inspired bathroom, surround sound speakers, & sliding glass doors leading to a private outdoor area with peaceful forest views. Currently operating as a successful short-term rental, this versatile space offers excellent income potential. Adjacent to the studio is a woodworking/workshop area with a garage-style door. Additional highlights are a level-entry driveway, attached two-car garage, EV Charger, hardwood floors throughout, solar panel system, and central vacuum system. Located on a very quiet county-maintained road in a convenient commuter location, this exceptional home is situated in the highly sought-after Summit neighborhood, known for its upscale homes on spacious half-acre or more parcels and underground utilities. In springtime, the front yard comes alive with colorful tulips and daffodils. Owned & cherished by one family since its construction, this special mountain retreat offers a rare opportunity in one of Lake Arrowhead’s most desirable neighborhoods.
No exterior & parking available.
Grades PK-5 • 3.5 mi
Grades K-5 • 4.1 mi
Grades K-5 • 8.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 59% |
| Baths | 4.0 | 3.0 | 78% |
| Square foot | 3,600 | 1,998.5 | 91% |
| Lot Size | 21,600 | 9,986.5 | 92% |
| Price | $798.0K | $677.5K | 65% |
| Price per sq ft | $222 | $343 | 5% |
| Built year | 2000 | 1978 | 85% |
| HOA | $0 | $0 | 50% |
| Days on market | 0 | 217 | 1% |
Jun 12, 2026
$798,000
$850,000
-6% Price Drop
Initial Listing
May 28, 2026
$850,000
Initial Listing
Jul 24, 1998
$44,000
Public Record