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

29383 Lake Forest, Menifee, California 92586 home-pic-0

29383 Lake Forest

Menifee, California 92586

ACTIVE
CONDITION: GOOD
3Beds
2Baths
1,785Sq Ft
7,405Lot Size

Property Price

LIST PRICE$499,999
EST. MARKET VALUE
$545,379
8% BelowMARKET VALUE

SUMMARY

Analysis of 29383 Lake Forest, Menifee, California 92586 reveals a Prime Investment Opportunity with a current list price of $499,999—significantly undercutting the $545,379 Fair Market Value by 8%. This valuation gap indicates a +$45,380 Instant Equity potential for buyers. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Menifee Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.

Estimated Market Value

$545,379 +$45,380 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Menifee.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
29383 Lake Forest
Subject
$499,999*
List Price
321,785$306-
A
29872 Pebble Beach Dr.
Sold
$505,000321,785$2830.1 mi
B
26573 Braddock Road
Sold
$495,000321,523$3250.6 mi
C
29267 Summerset Drive
Sold
$470,000321,408$3340.7 mi
D
30253 Pebble Beach Drive
Sold
$463,000221,785$2590.4 mi
E
29840 Avenida De Real
Sold
$570,000421,582$3600.6 mi
F
29331 Mawr Court
Sold
$460,000321,715$2680.8 mi
G
30276 Pebble Beach Drive
Active
$525,000
List Price
321,785$2940.4 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Good
TeardownExcellent

Property is move-in ready.

The property demonstrates exceptional pride of ownership and is in move-in ready condition. While built in 1989, it has undergone significant aesthetic and functional updates including wood flooring, plantation shutters, multiple skylights, and a refreshed kitchen with stainless steel appliances. The bathrooms appear updated and well-maintained. Additional high-quality features like the epoxy-finished driveway, enclosed patio, and professional hardscaping elevate the condition above 'fair' despite the age of the structure.

PROSSTRENGTHS & OPPORTUNITIES

  • 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.

  • Rare 3-Bedroom Configuration

    While many homes in this community are limited to two bedrooms, this property features a highly desirable third bedroom, offering significantly more versatility for families or home offices.

  • Extensive Upgrades & Maintenance

    The home demonstrates exceptional pride of ownership with premium finishes including wood flooring, plantation shutters, multiple skylights, and a professional epoxy-finished driveway.

CONSRISKS & DEFICIENCIES

  • Aging Infrastructure

    Built in 1989, the property may soon require updates to major systems or structural components that are nearing the end of their typical lifespan compared to newer area developments.

  • Inconsistent School Ratings

    The assigned elementary school carries a lower rating of 3, which may be a deterrent for education-focused buyers despite the higher ratings of the local high school.

About 29383 Lake Forest

Welcome to a home that truly reflects pride of ownership from the moment you arrive. Thoughtfully updated and beautifully maintained, this residence is filled with natural light thanks to multiple skylights, enhanced by updated wood flooring and classic plantation shutters throughout. The double-door entry opens to an inviting layout where the dining area flows seamlessly into the kitchen and breakfast nook, creating an open and functional living space. Large windows frame views of the lush, well-established backyard, bringing the outdoors in and adding to the home’s warm, airy feel. While many homes in the community offer only two bedrooms, this property stands out with a highly desirable third bedroom. The spacious primary suite features an impressive walk-in closet and plenty of room to unwind. Step outside to the enclosed patio—perfect for enjoying cool evening breezes without the bugs—while the covered patio provides shade for daytime relaxation and entertaining. The exterior is just as impressive, with beautifully hardscaped front landscaping that offers a serene setting and strong curb appeal. The side yard provides ample space for RV storage, and the oversized garage includes a dedicated workshop area without sacrificing full two-car parking. An epoxy-finished driveway adds a tasteful, modern touch that sets this home apart. This is a standout property in a quiet 55+ neighborhood that has been lovingly cared for and thoughtfully enhanced. A rare opportunity you won’t want to miss.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
1989
Lot Size
7,405 Sq. Ft.

Interior

Total Bedrooms
3
Total Bathrooms
2 (2 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

Menifee Unified Schools

Ridgemoor Elementary School

Grades K-5 • 1.8 mi

7/10

Freedom Crest Elementary School

Grades K-5 • 1.8 mi

3/10

Hans Christensen Middle School

Grades 6-8 • 1.8 mi

5/10

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds3.02.0
56%
Baths2.02.0
50%
Square foot1,7851,404
79%
Lot Size7,4057,405
50%
Price$500.0K$405.0K
78%
Price per sq ft$280$288
45%
Built year19891976
73%
HOA$0$94
25%
Days on market44172
3%

Pricing History

Listed for Sale

Jan 23, 2026

$499,999

Initial Listing

Sold

Mar 13, 2003

$215,000

Public Record

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