40389 Melrose Avenue, Hemet, California 92544, Hemet, 92544 - 3 bed, 2 bath
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Hemet, California 92544
This Spacious Traditional Home represents a Strong Value Opportunity, listed at $400,000 which aligns with its $400,000 Fair Market Value. With a Condition Rating of 4, the residence offers a substantial 1,896 sq ft floor plan featuring two expansive family rooms and an oversized covered patio with skylights. While the Short Sale status and leased solar require a diligent acquisition process, the property’s location in the Hemet Unified School District and its well-maintained but dated interior provide a clear path for forced appreciation. It is an ideal match for Buy-and-Hold Investors or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 40389 Melrose Avenue Subject | $400,000* List Price | 3 | 2 | 1,896 | $211 | - |
A 41265 Orange Place Sold | $360,000 | 3 | 2 | 1,938 | $186 | 0.9 mi |
B 40632 Lela May Avenue Sold | $460,000 | 4 | 3 | 1,722 | $267 | 0.5 mi |
C 201 Monte Vista Sold | $395,000 | 2 | 2 | 1,637 | $241 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1964, the property is aged but appears well-maintained. However, the kitchen and bathrooms are significantly outdated in style and materials, featuring laminate countertops, older appliances (except for a newer fridge), vinyl flooring, and dated light fixtures. While functional, these areas require substantial cosmetic updates to meet current standards, aligning with a property renovated 25-40 years ago rather than recently.
The home features two expansive family rooms and generously sized bedrooms, providing ample living space for comfort and entertainment.
A spacious backyard with an oversized covered patio and skylights creates an inviting outdoor living space, perfect for relaxation.
The open-concept kitchen boasts ample cabinetry and an eat-in dining area, making it practical for family meals and gatherings.
Being a short sale, the transaction may involve a more complex and potentially prolonged closing process, often implying 'as-is' conditions.
The leased solar system incurs a significant monthly expense of approximately $250, which is a recurring liability rather than an owned asset, potentially impacting financing and resale.
The property has undergone multiple price reductions from its original listing, which could suggest initial overpricing or challenges in attracting buyers, potentially signaling a need for further negotiation.
Short Sale - Charming Traditional Home with Spacious Living Areas Welcome to this beautifully maintained 3-bedroom, 2-bathroom residence offering approximately 1,896 sq ft of comfortable living space. The home features two expansive family rooms, perfect for relaxation and entertainment. The open-concept kitchen boasts ample cabinetry and an eat-in dining area, ideal for family meals and gatherings. Each bedroom is generously sized, providing plenty of room for rest and personalization. The property includes a spacious backyard with an oversized covered patio featuring skylights, creating an inviting outdoor living space. Additional highlights include a leased solar system at approximately $250/month, promoting energy efficiency. A security system is installed and can be purchased separately. The home's traditional curb appeal is enhanced by a tile roof and easy-care tiered rockscape front yard with a lovely sago palm. Don't miss the opportunity to own this delightful home that combines classic charm with modern conveniences.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,896 | 1,653 | 63% |
| Lot Size | 7,405 | 8,712 | 32% |
| Price | $400.0K | $460.0K | 23% |
| Price per sq ft | $211 | $282 | 14% |
| Built year | 1964 | 1979 | 19% |
| HOA | $0 | $0 | 50% |
| Days on market | 343 | 183 | 95% |
Dec 20, 2025
$400,000
$449,999
-11% Price Drop
Initial Listing
Aug 23, 2025
$449,999
Initial Listing
May 14, 2025
$475,000
Initial Listing