40480 Melrose Avenue, Hemet, California 92545, Hemet, 92545 - 3 bed, 3 bath
40480 Melrose Avenue
Hemet, California 92545
Property Price
SUMMARY
Analysis of 40480 Melrose Avenue, Hemet, California 92545 is currently available with a list price of $449,900. 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 Hemet 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.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
This 1964 home is move-in ready and has undergone significant recent updates, including new laminate flooring, fresh interior paint, and quartz countertops in the kitchen. The property features modern comforts such as a newer HVAC system, new dishwasher, and plantation shutters. While the original structure is older, the well-maintained systems and contemporary interior finishes align with the 'good' condition criteria.
PROSSTRENGTHS & OPPORTUNITIES
- Modern Interior Upgrades
The home features contemporary finishes including quartz countertops, fresh interior paint, and upgraded laminate flooring, offering a move-in-ready experience for buyers.
- Energy Efficiency & Climate Control
Equipped with a newer HVAC system and solar panels, the property is well-prepared for Hemet's climate while helping to significantly manage monthly utility costs.
- Enhanced Outdoor Living
The backyard is thoughtfully designed for comfort with fruit trees, a raised patio, and multiple shaded areas with sail shades, providing a functional retreat for summer months.
CONSRISKS & DEFICIENCIES
- Leased Solar Commitment
The solar system is leased rather than owned, requiring the buyer to assume a long-term contract which may impact financing or total monthly debt-to-income ratios.
- Property Age
Originally built in 1964, the home may have older underlying infrastructure or systems that could require more frequent maintenance compared to newer constructions in the area.
About 40480 Melrose Avenue
Prime Hemet location with standout value. This updated single-level home offers a bright, open floor plan with fresh interior paint and upgraded laminate flooring. The spacious kitchen features quartz countertops, abundant storage, and an electric cooktop, flowing into a formal dining area that opens up to a welcoming living room with a gas fireplace. Key upgrades include leased solar for energy efficiency, newer HVAC, new dishwasher and plantation shutters throughout. A spacious oversized garage provides excellent storage. The backyard delivers comfortable outdoor living with lush foliage including fruit trees, a raised patio and multiple shaded areas created by overhead patio covers with sail shades that keep the space cool all summer. Don't miss this upgraded property in a desirable neighborhood. It is truly worth a look.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1964
- Lot Size
- 6,970 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 3 (3 Full, 0 Half)
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 | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 2.0 | 70% |
| Square foot | 1,817 | 1,755 | 57% |
| Lot Size | 6,970 | 6,098 | 65% |
| Price | $449.9K | $447.0K | 51% |
| Price per sq ft | $248 | $247 | 50% |
| Built year | 1964 | 1999 | 1% |
| HOA | $0 | $43 | 45% |
| Days on market | 3 | 181 | 0% |
Pricing History
Listed for Sale
Mar 5, 2026
$449,900
Initial Listing
Sold
Sep 13, 2005
$308,500
Public Record