40221 Colony Drive, Murrieta, California 92562, Murrieta, 92562 - 3 bed, 3 bath
40221 Colony Drive
Murrieta, California 92562
Property Price
SUMMARY
Analysis of 40221 Colony Drive, Murrieta, California 92562 reveals a Fairly Priced Property with a current list price of $629,900 aligned with the estimated $617,620 Fair Market Value. This represents a stable investment opportunity at market rate. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Murrieta Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 40221 Colony Drive Subject | $629,900* List Price | 3 | 3 | 2,086 | $296 | - |
A 24217 Corte Cordoba Sold | $595,000 | 3 | 2 | 2,010 | $296 | 0.5 mi |
B 40885 Mountain Pride Sold | $620,000 | 3 | 3 | 2,105 | $295 | 0.3 mi |
C 40705 Mountain Pride Drive Sold | $650,000 | 4 | 3 | 2,155 | $302 | 0.5 mi |
D 40364 Via Marisa Sold | $518,000 | 3 | 2 | 1,767 | $293 | 0.6 mi |
E 40503 Calle Lampara Sold | $540,000 | 3 | 3 | 1,912 | $282 | 0.2 mi |
F 40723 Mountain Pride Sold | $595,000 | 3 | 3 | 1,826 | $326 | 0.4 mi |
G 40329 Via Marisa Active | $640,000 List Price | 3 | 2 | 2,100 | $305 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
The property is in move-in ready, turnkey condition. Although built in 1998 (27 years ago), it features significant updates including blonde wood flooring, granite countertops, and a marble fireplace. The kitchen is well-equipped with an island and gas cooktop, and the home shows no signs of deferred maintenance. While some architectural elements and cabinetry reflect the original build date, the overall maintenance and quality of finishes exceed the 'Fair' criteria.
PROSSTRENGTHS & OPPORTUNITIES
- Active Adult Lifestyle
Located in 'The Colony,' a premier 55+ gated community, this property offers a secure and social environment with amenities specifically tailored for senior living.
- Specialized Parking
The inclusion of a dedicated golf cart garage alongside the standard two-car garage is a highly desirable and functional feature for residents of this golf-oriented community.
- Turnkey Condition
The home is move-in ready with elegant blonde wood floors, granite countertops, and a marble fireplace, offering a high level of finish and immediate occupancy.
CONSRISKS & DEFICIENCIES
- Market Momentum
A recent price reduction from $675,000 to $629,900 suggests the property faced initial market resistance, which may affect buyer perception of value.
- Vintage Elements
Built in 1998, certain architectural details and original finishes may appear dated to modern buyers compared to newer or fully modernized senior housing options.
About 40221 Colony Drive
Beautiful Turnkey East Facing Home in The Colony a 55 plus Gated Community. Enter the 2 BD 2.5 Ba Home through your own gated courtyard. Step into the home through the formal living room area with a den office to the left, with elegant built in bookshelves. Notice the beautiful blonde wood floors. The dining, kitchen and great room area are located in the back of the home with a gorgeous marble fireplace. The kitchen is equipped with an island and gas cook top, and adorned with granite counter tops. Plenty of counter and cupboard space for chef's needs! The Ensuite is located towards the back of the home adorned with a Cove wall and windows for additional natural light. The Ensuite has a walk in closet with a skylight. The guest bedroom is located in the front of the home. Off the Great room is the entrance to the backyard patio area adorned by a wood covered area great to keep the summer sun and fall rain off while entertaining. Conveniently, there is Two car garage with an additional GOLF CART GARAGE. This home is one to put on your list to view!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1998
- Lot Size
- 6,098 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $333.0 / Month
Neighborhood Insights
Murrieta Unified Schools
E. Hale Curran Elementary School
Grades K-5 • 0.3 mi
Tovashal Elementary School
Grades K-5 • 0.9 mi
Avaxat Elementary School
Grades K-5 • 1.6 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 38% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,086 | 2,447 | 35% |
| Lot Size | 6,098 | 7,840 | 31% |
| Price | $629.9K | $715.0K | 29% |
| Price per sq ft | $302 | $316 | 42% |
| Built year | 1998 | 1997 | 51% |
| HOA | $333.0 | $0 | 82% |
| Days on market | 260 | 184 | 85% |
Pricing History
Listed for Sale
Feb 25, 2026
$629,900
$675,000
-7% Price Drop
Initial Listing
Price Change
Jun 20, 2025
$675,000
Initial Listing