2987 Demeter, San Diego, California 92139, San Diego, 92139 - 4 bed, 4 bath
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San Diego, California 92139
This property presents a Strong Value Opportunity with a List Price of $749,999—positioned well below the $809,540 Fair Market Value by 7%. This valuation gap offers $59,541 in Instant Equity for buyers. Featuring a Fair Condition Rating (5/10), the home requires rehabilitation, making it an ideal candidate for FHA 203(k) financing. The Multigenerational Floorplan and Cul-de-Sac Location provide significant upside for Buy-and-Hold Investors or Owner-Occupants seeking to build sweat equity through strategic renovations.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2987 Demeter Subject | $749,999* List Price | 4 | 4 | 1,992 | $406 | - |
A 2863 Carmar Way Sold | $687,535 | 5 | 3 | 1,988 | $346 | 0.6 mi |
B 3044 Fleming Drive Sold | $800,000 | 4 | 2 | 1,844 | $434 | 0.1 mi |
C 2849 Beatrice Street Sold | $626,535 | 4 | 2 | 1,361 | $460 | 0.3 mi |
D 2429 S Landscape Street 1 Pending | $650,000 List Price | 4 | 2 | 1,713 | $379 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1975 and explicitly marketed as a rehabilitation project requiring significant work. The listing suggests FHA 203(k) financing, which is reserved for homes needing major repairs. Visual evidence shows ceiling water damage/staining near the skylight and dated, mismatched bathroom fixtures.
The floorplan is uniquely designed for extended families, featuring a converted garage with a full kitchen and a downstairs bedroom with two bathrooms, allowing for distinct, separate living areas.
Situated at the end of a quiet cul-de-sac with a direct entrance to Parkside Park, the property offers enhanced privacy and immediate access to expansive green space and recreation.
Priced to reflect its current condition, this home is an ideal candidate for an FHA 203(k) rehabilitation loan, providing a rare chance to build significant sweat equity through custom renovations.
The property requires substantial work and is being sold without any seller credits or repairs, which may limit financing options to specialized renovation loans or cash buyers.
The conversion of the garage into living space eliminates covered vehicle storage and may present permitting challenges or appraisal complexities for buyers requiring a standard garage.
VRM $699,000 - $749,999 - Perfect Multigenerational Home Ready for you to bring your vision and desire to create a beautiful home. Home requires work and the price reflects the current condition, but is ready for you to make it your dream home in a great neighborhood. The floorplan is set up perfectly for you to bring the entire family and create separate living areas! Great opportunity rarely available. Located in Paradise Hills at end of Cul-de Sac with entrance to Parkside Park. Garage is currently converted into additional living space with full kitchen. 1 Bedroom and 2 bathrooms located downstairs. Upstairs has spacious Primary suite with primary bathroom. Home is being sold-as-is and seller will not offer any credits or repairs and this opportunity is priced accordingly. If you want to finance the purchase of a home that needs rehabilitation or finance improvements to your current home, the Federal Housing Administration’s (FHA) Section 203(k) Rehabilitation Mortgage Insurance Program (203(k) Program) may be the right choice for you. This program is available through FHA-approved lenders. It allows homebuyers to finance the purchase of a home or homeowners to refinance a current mortgage, combining the cost of renovations, repairs, or remodeling into a single loan. The 203(k) Program is available to homebuyers and homeowners, HUD-approved non-profit organizations and government agencies.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.5 mi
Grades K-5 • 1.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 54% |
| Baths | 4.0 | 2.0 | 96% |
| Square foot | 1,992 | 1,501 | 88% |
| Lot Size | - | 5,781 | 25% |
| Price | $750.0K | $770.0K | 40% |
| Price per sq ft | $377 | $519 | 10% |
| Built year | 1975 | 1968 | 71% |
| HOA | $0 | $0 | 50% |
| Days on market | 14 | 101 | 4% |
May 23, 2026
$749,999
Initial Listing
Jan 31, 1994
$73,500
Public Record