
Lake Elsinore, California 92530
This Single-Story Residential Property represents a Strong Value Opportunity, listed at $550,000—positioned well above the $513,772 Fair Market Value by 7%. While priced at a premium, the home features a Condition Rating of 4, offering a solid foundation for cosmetic modernization. The expansive 10,454 sq. ft. lot provides significant development potential, including space for an ADU or pool. With Scenic Lake and Mountain Views, this home is an ideal acquisition for Owner-Occupants seeking long-term value or Value-Add Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 29484 Mariners Subject | $548,998* List Price | 3 | 2 | 1,362 | $387 | - |
A 32009 Bourges Street Sold | $555,000 | 3 | 2 | 1,400 | $396 | 0.2 mi |
B 15256 Windjammer Sold | $595,000 | 3 | 2 | 1,362 | $437 | 0.1 mi |
C 233 Southshore Sold | $545,000 | 4 | 2 | 1,410 | $387 | 0.7 mi |
D 209 Ohio Sold | $510,000 | 3 | 2 | 1,256 | $406 | 0.7 mi |
E 615 Le Harve Sold | $521,000 | 3 | 2 | 1,285 | $405 | 0.7 mi |
F 29345 Breakwater Sold | $599,000 | 3 | 2 | 1,597 | $375 | 0.4 mi |
G 801 Broadway Sold | $615,000 | 3 | 3 | 1,753 | $351 | 0.4 mi |
H 29073 Forest View Sold | $628,000 | 3 | 3 | 1,857 | $338 | 1.0 mi |
I 142 N Massachusetts Active Under Contract | $535,000 List Price | 3 | 2 | 1,356 | $395 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1995, this 29-year-old home is approaching the 30-year threshold for major system updates. While the interior features updated LVP flooring and is well-maintained, the kitchen remains in its original state with dated oak cabinetry, white tile countertops, and older appliances. The property is functional and move-in ready but requires cosmetic modernization and likely upcoming maintenance on original systems to meet modern standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10454, living area = 1362.
The property boasts a significant lot size of over 10,400 square feet, providing rare opportunities for customization such as adding an ADU, a swimming pool, or a large outdoor entertainment area.
Positioned to capture beautiful views of Lake Elsinore and the surrounding mountains, the home offers a peaceful and picturesque setting that is highly desirable in this region.
At 1,362 square feet, the interior living space is relatively compact for a three-bedroom home, which may limit its appeal for families seeking larger common areas.
Built in 1995, the home may feature original finishes or aging systems that could require modernization to compete with newer developments or fully updated properties in the area.
Welcome to 29484 Mariners Way in Lake Elsinore, a beautifully maintained single-story home that offers the perfect blend of comfort, space, and scenic surroundings. From the moment you arrive, you’ll notice the pride of ownership and inviting curb appeal, leading into a bright and open interior with high ceilings and an abundance of natural light that creates a spacious, airy feel throughout. The layout flows seamlessly between the living, dining, and kitchen areas, making it ideal for both everyday living and entertaining. The kitchen features ample cabinetry, generous counter space, and a functional design that connects effortlessly to the main living areas. All bedrooms are generously sized, offering comfortable retreats for family, guests, or even a home office setup. What truly sets this property apart is its expansive lot over 10,000 square feet, making it one of the larger lots in the neighborhood, with endless potential for customization. Whether you envision building a pool, adding an ADU, or creating your dream outdoor oasis, there is more than enough space to bring your vision to life. Step outside and take in the beautiful lake views, providing a peaceful backdrop perfect for relaxing or entertaining. Located in a quiet cul-de-sac, established neighborhood just minutes from local shopping, dining, and easy access to the lake, this home offers a rare combination of space, views, and opportunity. Move-in ready and full of potential, this is a standout property that delivers both comfort today and long-term value for the future.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 1,362 | 1,973 |
| Lot Size | 10,454 | 6,970 |
| Price | $549.0K | $601.5K |
| Price per sq ft | $403 | $293 |
| Built year | 1995 | 2004 |
| HOA | $0 | $146 |
| Days on market | 78 | 64 |
Jul 18, 2026
$548,998
$548,999
+0% Price Increase
Initial Listing
Jul 14, 2026
$548,999
$549,000
+0% Price Increase
Initial Listing
Jun 25, 2026
$549,000
$550,000
+0% Price Increase
Initial Listing
May 6, 2026
$550,000
Initial Listing
Mar 7, 1996
$119,000
Public Record