
Canyon Lake, California 92587
This Turnkey Pool Residence is a Prime Investment Opportunity, listed at $628,000—positioned well below the $648,000 Fair Market Value by 3%. This valuation gap provides $20,000 in Instant Equity. Boasting a Condition Rating of 3, the home features a new HVAC system, new pool pump, and updated wood flooring. Located in the exclusive Canyon Lake gated community within the Lake Elsinore Unified District, the property offers a private lake lifestyle and dedicated boat parking. This is an ideal acquisition for Owner-Occupants or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 30340 Channel Way Drive Subject | $628,000* List Price | 3 | 3 | 1,633 | $385 | - |
A 30649 Sea Horse Sold | $700,000 | 3 | 2 | 1,624 | $431 | 0.2 mi |
B 23268 Sage Sold | $610,000 | 3 | 3 | 1,622 | $376 | 0.1 mi |
C 23619 Continental Sold | $649,000 | 3 | 2 | 1,866 | $348 | 0.4 mi |
D 30563 Meadowlark Sold | $640,000 | 3 | 2 | 1,650 | $388 | 0.3 mi |
E 30820 Early Round Sold | $599,500 | 3 | 2 | 1,408 | $426 | 0.7 mi |
F 30841 Long Point Active | $685,000 List Price | 3 | 2 | 1,704 | $402 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and well-maintained with significant recent upgrades including a new HVAC system, new pool pump, and newer wood flooring. The kitchen has been refreshed with newly painted cabinets and stainless steel appliances. While the 1985 architecture and bathroom configurations remain largely original, the home shows minimal wear and tear and benefits from functional system updates.
Situated in the exclusive gated community of Canyon Lake, the property offers 24-hour guarded security and access to a private lake, golf course, equestrian stables, and extensive sports facilities.
The home features a brand-new HVAC system, a new pool pump, and updated kitchen finishes, providing immediate value and reducing the need for near-term capital expenditures.
The large flat backyard includes a private fenced pool and dedicated driveway space for boat or trailer parking, perfectly accommodating the recreational lifestyle of the area.
Built in 1985, the home's layout and certain original features may feel dated to modern buyers, potentially requiring further cosmetic renovations to meet contemporary tastes.
The $350 monthly association fee, while supporting extensive amenities, represents a significant recurring carrying cost that may impact the overall affordability for some purchasers.
Adorable Pool Home with a huge flat backyard with 3 bedrooms, 2 1/2 baths, loft, living room with fireplace, & almost 1700 square feet across the street from the lake. Cozy living room featuring a wood-burning fireplace with mantel, open kitchen with newly painted white cabinets, stainless steel fridge & dishwasher, & bay window overlooking front yard, kitchen opens up to the dining area with a brand new slider that leads out to the patio and the big backyard & pool. Downstairs also features 1/2 bath that offers a door leading out to the backyard. Newer wood flooring covers the entire main level. Upstairs you'll find a loft with a fireplace that is the perfect family room, TV Room, or office with built-ins. Good-sized primary bedroom with an attached bath with dual sinks & separate room with shower/commode. 2 additional bedrooms; 1 bedroom with built-in desk, and the other with view of the pool. Additional bath upstairs. 2 car attached garage with laundry & storage (Separate room in the garage that can be removed if desired). Driveway offers boat/trailer parking. Private backyard features a fully fenced sparkling pool with NEW pump. Beautifully landscaped backyard and front yard with fruit trees. NEW HVAC system. Located on a great quiet street that is across from the lake. Canyon Lake is an exclusive gated and 24-hour guarded community & includes a private lake for boating, skiing, swimming, wake boarding, fishing, paddle boarding, canoeing, + 6-lighted tennis courts, Olympic size pool, beaches, parks, pickleball and basketball courts, club house, senior center, and clubs plus the community offers an 18-hole golf course golf & riding stables. Low tax rate of approx. 1% with no Mello Roos.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 1,633 | 2,205.5 | 32% |
| Lot Size | 6,970 | 7,841 | 26% |
| Price | $628.0K | $685.0K | 33% |
| Price per sq ft | $385 | $349 | 63% |
| Built year | 1985 | 1986 | 45% |
| HOA | $350.0 | $350 | 50% |
| Days on market | 91 | 189 | 18% |
Feb 18, 2026
$628,000
$648,000
-3% Price Drop
Initial Listing
Jan 21, 2026
$648,000
Initial Listing
Apr 7, 2010
$134,000
Public Record
Mar 26, 2009
$180,000
Public Record
Jul 21, 2005
$266,000
Public Record
Nov 20, 1998
$179,000
Public Record