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29383 Lake Forest Drive, Menifee, California 92586, Menifee, 92586 - 3 bed, 2 bath

29383 Lake Forest Drive, Menifee, California 92586 home-pic-0
ACTIVE$510,000
29383 Lake Forest Drive, Menifee, California 92586
3Beds
2Baths
1,785Sqft
7,405Lot

Price Vs. Estimate

The estimated value ($495,588.525) is $14,411.475 (2%) lower than the list price ($510,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7405, living area = 1785.
Top Cons:
Assumable Solar Lease: The buyer will be required to assume an existing solar lease, which represents an ongoing financial obligation and a potential point of negotiation.

Compared to the nearby listings

Price:$510.0K vs avg $404.9K (+$105,050)78%
Size:1,785 sqft vs avg 1,398.5 sqft78%
Price/sqft:$286 vs avg $29245%

More Insights

Built in 1989 (36 years old).
Condition: Built in 1989, this home is well-maintained and shows pride of ownership, with updated wood flooring and plantation shutters. However, the kitchen features dated wood cabinets and tiled countertops, despite having updated stainless steel appliances. Both bathrooms are significantly outdated with original-style vanities, countertops, and light fixtures. While functional and clean, these key areas would require substantial aesthetic updates to meet current market expectations.
Year Built
1989
Close
-
List price
$510K
Original List price
$529K
Price/Sqft
$286
HOA
-
Days on market
-
Sold On
-
MLS number
IV25164417
Home ConditionFair
Features
Patio
ViewNeighborhood

About this home

THIS HOME SHOWS PRIDE OF OWNERSHIP!!! FROM THEY SKYLIGHTS TO PROVIDE TONS OF NATURAL LIGHT TO THE UPDATED WOOD FLOORING TO THE PLANTATION SHUTTERS, THIS IS THE DREAM HOME! AS YOU ENTER THE DOUBLE DOOR ENTRY, YOU ARE GREETED WITH A OPEN DINING AREA TO THE KITCHEN AND BREAKFAST NOOK. NOT TO MENTION LARGE WINDOWS TO PROVIDE VIEWS TO THE WELL ESTABLISHED LUSH BACKYARD. MANY OF THE HOMES IN THIS COMMUNITY HAVE 2 BEDROOMS WHILE THIS HOME HAS THAT HIGHLY DESIREABLE 3RD BEDROOM. THE PRIMARY HAS A HUGE AMOUNT OF SPACE AND A MASSIVE WALK-IN CLOSET. AN ENCLOSED PATIO KEEPS THOSE PESKY BUGS AWAY WHILE YOU ENJOY THE EVENING BREEZE. NOT TO MENTION A PATIO COVER TO KEEP YOU OUT OF THE SUN. THE SIDE OF THE HOME HAS ENOUGH SPACE FOR RV STORAGE AND THE GARAGE HAS A LARGE WORKSHOP AREA THAT DOESN'T TAKE AWAY FROM THE 2 CAR GARAGE PARKING. THE EPOXY DRIVEWAY PROVIDES A TASTEFUL ACCENT TO MAKE THIS HOME STAND OUT FROM THE OTHERS. THE BEAUTIFULLY HARDSCAPED FRONT YARD PROVIDES A SERENE AREA TO ENJOY THE QUIET NEIGHBORHOOD. THIS HOME STANDS OUT FROM ALL THE OTHERS, YOU WON'T BE DISAPPOINTED! THIS HOME DOES HAVE A SOLAR LEASE THAT BUYER WILL HAVE TO ASSUME.

Nearby schools

7/10
Ridgemoor Elementary School
Public,•K-5•1.8mi
3/10
Freedom Crest Elementary School
Public,•K-5•1.8mi
5/10
Hans Christensen Middle School
Public,•6-8•1.8mi
6/10
Menifee Valley Middle School
Public,•6-8•2.8mi
4/10
Ethan A Chase Middle School
Public,•6-8•2.8mi
2/10
Pinacate Middle School
Public,•7-8•5.7mi
7/10
Paloma Valley High School
Public,•9-12•2.0mi
4/10
Heritage High School
Public,•9-12•4.4mi
Condition Rating
Fair
Built in 1989, this home is well-maintained and shows pride of ownership, with updated wood flooring and plantation shutters. However, the kitchen features dated wood cabinets and tiled countertops, despite having updated stainless steel appliances. Both bathrooms are significantly outdated with original-style vanities, countertops, and light fixtures. While functional and clean, these key areas would require substantial aesthetic updates to meet current market expectations.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7405, living area = 1785.
Exceptional Maintenance & Upgrades: The property shows clear pride of ownership with updated wood flooring, plantation shutters, and a beautifully hardscaped front yard, contributing to its curb appeal and move-in readiness.
Abundant Natural Light: Skylights and large windows throughout the home provide tons of natural light, creating a bright and welcoming atmosphere.
Desirable 3rd Bedroom: Unlike many homes in the community, this property offers a highly desirable third bedroom, adding significant value and flexibility for occupants.
Enhanced Outdoor Living & Utility: Features an enclosed patio for bug-free enjoyment, a patio cover for sun protection, and dedicated RV storage space on the side of the home.
Functional Garage with Workshop: The two-car garage includes a large workshop area, providing valuable extra space for hobbies or storage without impacting parking.

Cons

Assumable Solar Lease: The buyer will be required to assume an existing solar lease, which represents an ongoing financial obligation and a potential point of negotiation.
Recent Price Reductions: The property has undergone multiple price reductions (from $529,000 to $510,000), which may suggest initial overpricing or market resistance at previous price points.
Property Age (1989): Built in 1989, the home is 35 years old. While well-maintained, this age could imply older systems (e.g., HVAC, plumbing, electrical) that may require future updates or maintenance not explicitly detailed.

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