33480 Megan Court, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 5 bed, 3 bath
Loading property details...
Lake Elsinore, California 92530
This Spacious Single-Family Residence is a Strong Value Opportunity, listed at $650,000—positioned well below the $692,137 Fair Market Value by 6%. This valuation gap offers $42,137 in Instant Equity. With a Fair Condition Rating, the property features a functional layout with two main-floor bedrooms and a primary suite with a Panoramic Mountain View Balcony. The oversized 16,553 sqft lot provides rare RV access and ADU potential. This is an ideal acquisition for Owner-Occupants seeking long-term value or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 33480 Megan Court Subject | $650,000* List Price | 5 | 3 | 2,340 | $296 | - |
A 33450 Walham Sold | $598,000 | 4 | 2 | 2,020 | $296 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 2002 (22 years old), the property falls into the 'Fair' category as it exceeds the 20-year mark without a full modern renovation. While the home is very well-maintained and features updated flooring in the main living areas, the kitchen remains dated with original white tile countertops and white appliances. The bathrooms and systems appear functional but are approaching the end of their typical aesthetic and mechanical lifecycles, necessitating minor updates to meet current market standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 16553, living area = 2340.
The absence of HOA fees and Mello Roos, combined with low property taxes, provides significant long-term savings and increases overall purchasing power for buyers.
The oversized 16,553 sqft lot features dedicated RV/boat parking and ample space for a pool or ADU, offering rare versatility and utility for outdoor enthusiasts.
Built in 2002, the interior may require modern aesthetic upgrades to the kitchen and bathrooms to align with contemporary luxury design trends.
Given the home's 20-plus year age, major components such as the HVAC system or roof may be approaching the end of their typical lifespan, necessitating future capital investment.
Welcome home to 33480 Megan Court, Lake Elsinore! This home is located in a quiet cul-de-sac and features 5 bedrooms, 3 bathrooms and approximately 2,340 square feet of living space on a large lot with RV access. As you enter, you will enjoy the beautiful courtyard with large fountain and ample space for your outdoor furniture - perfect for sitting and sipping coffee and reading a book. The main floor has two full bedrooms, a full bathroom - complete with a shower and tub, separate laundry room, family room with cozy fireplace, spacious kitchen with a breakfast nook and lots of cabinets, and a large formal living and dining room with fireplace. On the second floor, you will find two spacious bedrooms with a Jack and Jill bathroom, the primary suite with a walk-in closet, separate shower, soaking tub and two vanities. The huge balcony off of the primary bedroom offers a stunning panoramic view of the mountains! There are ceiling fans in all bedrooms and family room. The beautifully landscaped backyard is great for entertaining and has plenty of space to add a pool or ADU and side access with ample room to park your RV, boat and 5th wheel trailer! NO HOA! NO MELLO ROOS! Low taxes! Close to lake, shopping and Ortega Highway. Schedule your private viewing appointment today!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 4.0 |
| Baths | 3.0 | 3.0 |
| Square foot | 2,340 | 1,973 |
| Lot Size | 16,553 | 6,970 |
| Price | $650.0K | $601.5K |
| Price per sq ft | $278 | $293 |
| Built year | 2002 | 2004 |
| HOA | $0 | $146 |
| Days on market | 20 | 64 |
Jul 2, 2026
$650,000
Initial Listing
Sep 16, 2016
$362,000
Public Record
May 20, 2010
$228,000
Public Record
Oct 24, 2002
$245,500
Public Record