40502 Corte Lucia, Murrieta, California 92562, Murrieta, 92562 - 3 bed, 2 bath

40502 Corte Lucia, Murrieta, California 92562 home-pic-0

40502 Corte Lucia

Murrieta, California 92562

ACTIVE
CONDITION: FAIR
3Beds
2Baths
1,614Sq Ft
4,356Lot Size

Property Price

LIST PRICE$514,900
EST. MARKET VALUE
$513,902

SUMMARY

Analysis of 40502 Corte Lucia, Murrieta, California 92562 reveals a Fairly Priced Property with a current list price of $514,900  aligned with the estimated $513,902 Fair Market Value. This represents a stable investment opportunity at market rate. 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 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

$513,902
Based on Realkey algorithm analyzing recent comparable sales in Murrieta.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
40502 Corte Lucia
Subject
$514,900*
List Price
321,614$318-
A
40224 Via Marisa
Sold
$540,000321,767$3060.2 mi
B
24193 Corte Cordoba
Sold
$495,000221,606$3080.2 mi
C
39899 Tanager Trail
Sold
$580,000321,641$3530.5 mi
D
40590 Via Malagas
Sold
$535,000321,614$3310.1 mi
E
40451 Via Amapola
Sold
$519,999221,606$3240.2 mi
F
40380 Via Francisco
Sold
$450,000221,437$3130.3 mi
G
40493 Via Estrada
Active
$498,000
List Price
221,614$3090.0 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Fair
TeardownExcellent

Property is moderate renovation needed.

Built in 1989, this 35-year-old home shows a mix of updates and original features. The kitchen benefits from modern stainless steel appliances and updated lighting, but the cabinets and countertops appear older, suggesting a renovation that is not recent. Bathrooms have updated shower enclosures and backsplashes, but the vanities and gold-toned fixtures are dated. Flooring is inconsistent, with some newer laminate and other areas featuring older tile/linoleum or carpet. A notable weakness is the absence of central air conditioning, a significant factor in Murrieta's climate. While well-maintained, the property requires minor updates to modernize its style and address the lack of a central cooling system, aligning it with the 'fair' condition criteria.

PROSSTRENGTHS & OPPORTUNITIES

  • Exclusive 55+ Resort-Style Community

    Located in 'The Colony,' a premier guard-gated 55+ community with 24-hour security, offering a tailored lifestyle for active adults.

  • Extensive Community Amenities

    Residents enjoy a resort-class clubhouse with a year-round pool, spas, sports courts (tennis, pickleball, bocce), gym, hair salon, billiards, library, auditorium, lounge, and an 18-hole golf course within the gates.

  • Desirable Single-Story Layout & Interior Features

    The home boasts an open floor plan, high ceilings, abundant natural light, neutral decor, an updated kitchen with stainless appliances, and a flexible den/office space.

CONSRISKS & DEFICIENCIES

  • Age of Property & Potential for System Updates

    Built in 1989, the property is 35 years old. While cosmetic updates are noted, major systems (e.g., HVAC, plumbing, electrical, roof) may be original or require significant future investment.

  • High Monthly HOA Fees

    The $348 monthly association fee, while covering extensive amenities and front yard maintenance, represents a significant ongoing cost that could impact a buyer's budget.

  • Lack of Central Air Conditioning

    The property description does not mention a cooling system. In Murrieta's warm climate, the absence of central air conditioning could be a significant drawback and a potential installation expense for a new owner.

About 40502 Corte Lucia

BEAUTIFUL SINGLE-STORY HOME in "THE COLONY", one of SoCal's premier 55 & better resort-style gated communities. Located on a quiet street, the home is close to the spectacular clubhouse, which features a pool, sports courts, and amenities. Enter through a PRIVATE GATED COURTYARD. Once inside the home, you are met with an open floor plan, high ceilings, abundant natural light, and neutral decor throughout. The KITCHEN has Stainless Appliances, including a refrigerator. Beautifully redesigned lighting is completed with decorator colors. Den/office can be a third bedroom. This room is well situated, with a large window looking out to the front courtyard. The breakfast room can be used as a cozy family room. This home has lots of windows for early-morning sunshine, with a sliding door to your covered patio, which is adjacent to an HOA-maintained greenbelt with a walking path. The spacious living room features a custom floor-to-ceiling accent wall that surrounds the cozy fireplace. The formal dining room has a sliding door to a secluded side patio. Spacious primary suite with a sliding door to your patio retreat. Refurbished landscaping. Oversized garage has room for a golf cart & includes cabinets. HOA maintains/waters front yard landscaping. This is a GUARD-GATED COMMUNITY with 24 HR SECURITY. The Colony, with a resort-class clubhouse, features a year-round swimming pool, spas, lighted tennis & pickleball/paddleball courts, Bocce ball, card room, HAIR SALON, billiards, library & gym. Large capacity auditorium with catering facilities for dances, movies, plays, musical productions etc. There is a beautiful lounge with a fireplace and a cocktail lounge, great for PARTIES FOR ALL OCCASIONS. Privately owned 18-hole GOLF COURSE is within The Colony gates. The Colony is well located near shopping, medical centers, parks, Temecula Valley wineries, and Pechanga Casino Resort & Spa.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
1989
Lot Size
4,356 Sq. Ft.

Interior

Total Bedrooms
3
Total Bathrooms
2 (2 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$348.0 / Month

Neighborhood Insights

Murrieta Unified Schools

E. Hale Curran Elementary School

Grades K-5 • 0.5 mi

6/10

Tovashal Elementary School

Grades K-5 • 1.0 mi

7/10

Avaxat Elementary School

Grades K-5 • 1.3 mi

6/10

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds3.04.0
38%
Baths2.03.0
28%
Square foot1,6142,447
15%
Lot Size4,3567,840
9%
Price$514.9K$715.0K
3%
Price per sq ft$319$316
51%
Built year19891997
29%
HOA$348.0$0
86%
Days on market46183
3%

Pricing History

Listed for Sale

Jan 20, 2026

$514,900

Initial Listing

Sold

Mar 31, 2017

$308,500

Public Record

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