340 W Congress, Colton, California 92324, Colton, 92324 - 3 bed, 2 bath
ACTIVE$545,000
340 W Congress, Colton, California 92324
3Beds
2Baths
1,202Sqft
5,750Lot
Price Vs. Estimate
The estimated value ($550,753.705) is $5,753.705 (1%) lower than the list price ($545,000). This property may be overpriced.
Key pros and cons
Top Pros:
Income-Generating ADU: The property includes a 1-bedroom, 1-bath ADU currently rented month-to-month for $1590/month, providing immediate and significant rental income potential.
Top Cons:
Property Age: Built in 1926, despite extensive remodels, the property's age may still imply potential for older underlying infrastructure or maintenance concerns.
Compared to the nearby listings
Price:$545.0K vs avg $514.0K (+$31,000)66%
Size:1,202 sqft vs avg 1,344 sqft34%
Price/sqft:$453 vs avg $36379%
More Insights
Built in 1926 (99 years old).
Condition: Despite being built in 1926, the property has undergone an extensive and recent renovation, as evidenced by the description stating 'new kitchen, new bathrooms, new laminate flooring, new carpets in bedrooms, mini split air conditioning and heating.' The images confirm a modern aesthetic with new white shaker cabinets, contemporary light fixtures, new appliances, and updated flooring throughout both the main house and the ADU. All visible components appear new or virtually new, meeting current quality standards with no deferred maintenance.
Year Built
1926
Close
-
List price
$545K
Original List price
$555K
Price/Sqft
$453
HOA
-
Days on market
-
Sold On
-
MLS number
GD25242135
Home ConditionExcellent
Features
View-
About this home
ADU plus a Beautifully remodeled home in the city of Colton. Front house is 2 bedrooms 1 bath. New kitchen, new bathrooms, new laminate flooring, new carpets in bedrooms, mini split air conditioning and heating, long driveway with plenty of parking, and big backyard. It also has a converted enclosed patio with city approval plans that can used as a room or for entertaining. Front unit will be delivered vacant. There is a 1 bedroom 1 bath ADU in the back that is rented out on a month-to-month basis for 1590/month. Great home for a big family or for rental income. FHA approved. Call for more exciting details and to discuss financing options.
Condition Rating
Excellent
Despite being built in 1926, the property has undergone an extensive and recent renovation, as evidenced by the description stating 'new kitchen, new bathrooms, new laminate flooring, new carpets in bedrooms, mini split air conditioning and heating.' The images confirm a modern aesthetic with new white shaker cabinets, contemporary light fixtures, new appliances, and updated flooring throughout both the main house and the ADU. All visible components appear new or virtually new, meeting current quality standards with no deferred maintenance.
Pros & Cons
Pros
Income-Generating ADU: The property includes a 1-bedroom, 1-bath ADU currently rented month-to-month for $1590/month, providing immediate and significant rental income potential.
Extensively Remodeled Main House: The front house has been beautifully remodeled with a new kitchen, new bathrooms, new laminate flooring, and new carpets, offering a modern and move-in ready living space.
FHA Approved: The property is FHA approved, which broadens the potential buyer pool and makes financing more accessible for many purchasers.
Modern Climate Control: The front unit features mini-split air conditioning and heating, providing efficient and comfortable climate control.
Permitted Additional Space: A converted enclosed patio with city approval offers versatile additional space that can be used as a room or for entertaining, adding value and functionality.
Cons
Property Age: Built in 1926, despite extensive remodels, the property's age may still imply potential for older underlying infrastructure or maintenance concerns.
ADU Lease Term: The ADU is rented on a month-to-month basis, which could introduce uncertainty for a new owner regarding tenant stability, continued income, or immediate occupancy if desired.
Recent Price Reductions: The property has undergone multiple price reductions from its original list price, potentially indicating initial overpricing or challenges in attracting buyers at its current valuation.