405 Lookout, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 1 bed, 1 bath

405 Lookout
Lake Elsinore, California 92530
Property Price
SUMMARY
Analysis of 405 Lookout, Lake Elsinore, California 92530 reveals a Prime Investment Opportunity with a current list price of $309,888—significantly undercutting the $337,942 Fair Market Value by 8%. This valuation gap indicates a +$28,054 Instant Equity potential for buyers. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Lake Elsinore 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 |
|---|---|---|---|---|---|---|
★ 405 Lookout Subject | $309,888* List Price | 1 | 1 | 636 | $531 | - |
A 1003 W Heald Avenue Sold | $340,000 | 2 | 1 | 760 | $447 | 0.8 mi |
B 114 N Langstaff Street Sold | $305,000 | 2 | 1 | 768 | $397 | 0.5 mi |
C 108 S S Chestnut St Pending | $248,999 List Price | 2 | 2 | 598 | $416 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1948, this home has received cosmetic updates including laminate flooring, fresh interior paint, and a refreshed bathroom with tile flooring. However, the kitchen remains dated with older appliances, and the listing explicitly mentions the need for 'TLC.' While functional and move-in ready, the property shows signs of age and requires minor updates to meet modern standards.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7405, living area = 636.
- Expansive Lot Potential
The property features a generous lot of approximately 8,712 sq. ft., providing ample space for future expansion, an ADU, or extensive outdoor landscaping.
- Modern Interior Upgrades
The home boasts upgraded laminate flooring, custom interior paint, and a modernized bathroom with tile flooring, offering a move-in-ready aesthetic despite its vintage.
CONSRISKS & DEFICIENCIES
- Restrictive Living Space
At just 636 square feet with a single bedroom, the property has a limited buyer pool and may feel cramped for those requiring a home office or guest space.
- Required Maintenance
Built in 1948 and noted as needing 'TLC,' the home likely requires additional investment in repairs or modernization to address its age and condition.
About 405 Lookout
Absolutely charming Lake Elsinore single-bedroom, single-bath home located in an established community and full of potential. Situated on a spacious approximately 8,712 sq. ft. lot, the property offers plenty of room for landscaping, outdoor living, or future personalization of the large yard. Inside, the home features upgraded laminate flooring in the living room and bedroom, along with custom interior paint and ceiling fans throughout, adding comfort and character. The functional kitchen includes a freestanding gas stove, stainless steel sink, and opens to a dining area or breakfast nook on one side, while providing access to the indoor laundry area on the other. The spacious bedroom includes mirrored closets, and the upgraded bathroom features a pedestal sink, shower-in-tub combination, and tile flooring. The rear yard offers a concrete patio and chain-link fenced area, perfect for outdoor enjoyment. A detached single-car garage with an additional storage area provides extra functionality. While the home has great features and character, it could benefit from a little TLC, making it a fantastic opportunity for buyers looking to add their personal touch or for investors seeking potential. Conveniently located with easy access to freeways, shopping, restaurants, and entertainment, and just a short drive to Lake Elsinore for recreation and outdoor activities.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1948
- Lot Size
- 7,405 Sq. Ft.
Interior
- Total Bedrooms
- 1
- Total Bathrooms
- 1 (1 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 | 1.0 | 4.0 | 1% |
| Baths | 1.0 | 3.0 | 5% |
| Square foot | 636 | 1,857 | 1% |
| Lot Size | 7,405 | 7,841 | 47% |
| Price | $309.9K | $590.0K | 1% |
| Price per sq ft | $487 | $319 | 97% |
| Built year | 1948 | 2004 | 6% |
| HOA | $0 | $0 | 50% |
| Days on market | 3 | 193 | 1% |
Pricing History
Listed for Sale
Mar 4, 2026
$309,888
Initial Listing
Sold
Oct 11, 2019
$229,000
Public Record
Sold
Sep 1, 2017
$160,000
Public Record
Sold
Jun 9, 2014
$138,000
Public Record
Sold
Jan 29, 1999
$30,000
Public Record
Sold
Aug 28, 1996
$41,000
Public Record



























