
Canyon Lake, California 92587
This waterfront residence represents a Strong Value Opportunity, listed at $1,270,000—positioned well below the $1,350,171 Fair Market Value by 5%. This valuation gap provides $80,171 in Instant Equity. Featuring a Fair Condition Rating, the home offers a unique retro chic 1970s aesthetic with panoramic lake views and a versatile studio casita. This property is an ideal acquisition for Buy-and-Hold Investors seeking rental potential or Owner-Occupants looking to personalize a premier waterfront asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 29392 Big Range Subject | $1,270,000* List Price | 4 | 3 | 1,792 | $753 | - |
A 22386 Whirlaway Active | $1,500,000 List Price | 3 | 3 | 1,764 | $850 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1976, the property is well-maintained but largely dated, fitting the 'Fair' criteria. While the primary bathroom has been recently remodeled with modern tile and a clawfoot tub, the kitchen and secondary bathrooms feature finishes and appliances that appear to be 20+ years old. The 'retro chic' 1970s aesthetic, including the parquet flooring and original wood-beam ceilings, indicates a need for cosmetic and system updates to meet modern standards.
Situated on a large main lake lot, this property offers rare panoramic views and direct access to Canyon Lake's premier boating and social lifestyle.
The inclusion of a completely separate studio casita provides exceptional flexibility for multi-generational living, a private home office, or potential rental income.
The home features a distinctive 'retro chic' 1970s aesthetic, highlighted by vaulted wood beam ceilings and a signature entertaining bar that adds timeless charm.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
Built in 1976, the property may require more frequent maintenance or updates to its original systems compared to newer constructions in the area.
With only 1,792 square feet split between the main house and casita, the individual living areas and bedrooms may feel small for the premium price point.
Welcome to one of Canyon Lake’s most unforgettable waterfront retreats. Situated on a huge main lake lot with panoramic views of Canyon Lake's vibrant boating lifestyle, this unique property offers the perfect blend of charm, character, and entertaining space. The single story main residence features 3 bedrooms and 2 bathrooms, with a spacious great room designed to maximize stunning lake views. The upgraded kitchen overlooks the water, making meal preparation and hosting a true pleasure. Large guest bedrooms provide comfort and flexibility, while the private primary suite serves as a peaceful retreat complete with a cozy fireplace, walk in closet, French doors leading to a tranquil fountain courtyard, and a beautifully remodeled bathroom featuring upgraded tile and a classic clawfoot soaking tub. Adding incredible versatility, the property includes a completely separate studio casita located downstairs, ideal for guests, extended family, a home office, or potential rental opportunities. From the moment you arrive through the lush garden entry, you'll appreciate the home's distinctive retro chic 1970s vibe, highlighted by warm wood beam ceilings that add timeless character and architectural charm. At its heart is a signature entertaining bar that has served as the centerpiece of countless celebrations over the years. Designed for gathering, the expansive waterfront backyard has hosted everything from elegant garden parties to sunset soirées, creating a setting where memories are made. Additional features include a 2 car garage, mature landscaping, multiple outdoor entertaining spaces, and one of the most desirable locations on Canyon Lake's main lake. Whether you're looking for a waterfront sanctuary, an entertainer's dream, or a home filled with personality and charm, this exceptional Canyon Lake property offers a lifestyle unlike any other.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 3.0 | 3.0 |
| Square foot | 1,792 | 2,648 |
| Lot Size | 6,534 | 7,405 |
| Price | $1.27M | $763.2K |
| Price per sq ft | $709 | $356 |
| Built year | 1976 | 1984 |
| HOA | $350.0 | $350 |
| Days on market | 51 | 84 |
Jun 13, 2026
$1,270,000
$1,399,000
-9% Price Drop
Initial Listing
Jun 1, 2026
$1,399,000
Initial Listing