305 W Heald, Lake Elsinore, California 92530, Lake Elsinore, 92530 - bed, bath
305 W Heald
Lake Elsinore, California 92530
Property Price
SUMMARY
Analysis of 305 W Heald, Lake Elsinore, California 92530 is currently available with a list price of $490,000. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Lake Elsinore Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Condition Analysis
OVERALL CONDITION SCORE
Property is extensive renovation needed.
Built in 1910, this property is over a century old and shows extensive signs of severe wear and neglect. Both kitchens feature extremely dated cabinets, worn countertops, old appliances, and damaged walls with peeling paint. The bathrooms are equally outdated with basic, worn fixtures and visible deterioration. Flooring throughout includes worn carpet, old tile, and damaged wood/laminate. The overall condition of both units requires substantial repairs and rehabilitation, indicating significant defects and making it uncomfortable to live in its current state, aligning with the 'Poor' condition criteria.
PROSSTRENGTHS & OPPORTUNITIES
- Income-Generating Duplex
The property features two separate homes on one oversized lot, classified as 'Residential Income' and a 'Duplex,' offering immediate or potential rental income streams.
- Significant Investment Potential
Explicitly described as a 'Great investment' with 'huge potential,' indicating strong upside for value appreciation and return on investment after necessary improvements.
- Prime Walkable Location
Conveniently located within walking distance to downtown, parks, and schools, enhancing tenant appeal and overall property desirability.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1221, other record living area = 672.
- Requires Significant Renovation
The description explicitly states 'Units need some TLC,' indicating a necessity for substantial repairs, upgrades, and capital investment to bring the property to its full potential.
- Advanced Age of Construction
Built in 1910, the property is over a century old, which typically implies outdated systems, potential structural concerns, and higher ongoing maintenance costs.
About 305 W Heald
Great investment--Two homes on one oversized lot. Home #1 is a 2 bedroom, 1 bath home with family room, kitchen, and front room area, just under 700 sq ft of living space. Home #2 is 2 bedroom, 1 bath home with family room and kitchen area, just under 600 sq ft. Units need some TLC but has huge potential. Walking distance to downtown, parks, schools. One unit is currently listed. Long term tenant would like to stay. Both units can be turned over vacant, if buyer desires.
Property Details
Public Facts
- Property Type
- Duplex
- Year Built
- 1910
- Lot Size
- 8,276 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 1,221 | 2,130 | 33% |
| Lot Size | 8,276 | 8,276 | 50% |
| Price | $490.0K | $600.0K | 33% |
| Price per sq ft | $401 | $314 | 67% |
| Built year | 1910 | 1964 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 51 | 150 | 33% |
Pricing History
Listed for Sale
Mar 7, 2026
$490,000
$520,000
-6% Price Drop
Initial Listing
Price Change
Jan 15, 2026
$520,000
Initial Listing
Sold
Jun 15, 2017
$200,000
Public Record