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

40502 Corte Lucia
Murrieta, California 92562
Property Price
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
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 40502 Corte Lucia Subject | $514,900* List Price | 3 | 2 | 1,614 | $318 | - |
A 40224 Via Marisa Sold | $540,000 | 3 | 2 | 1,767 | $306 | 0.2 mi |
B 24193 Corte Cordoba Sold | $495,000 | 2 | 2 | 1,606 | $308 | 0.2 mi |
C 39899 Tanager Trail Sold | $580,000 | 3 | 2 | 1,641 | $353 | 0.5 mi |
D 40590 Via Malagas Sold | $535,000 | 3 | 2 | 1,614 | $331 | 0.1 mi |
E 40451 Via Amapola Sold | $519,999 | 2 | 2 | 1,606 | $324 | 0.2 mi |
F 40380 Via Francisco Sold | $450,000 | 2 | 2 | 1,437 | $313 | 0.3 mi |
G 40493 Via Estrada Active | $498,000 List Price | 2 | 2 | 1,614 | $309 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
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
Tovashal Elementary School
Grades K-5 • 1.0 mi
Avaxat Elementary School
Grades K-5 • 1.3 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 | 2.0 | 3.0 | 28% |
| Square foot | 1,614 | 2,447 | 15% |
| Lot Size | 4,356 | 7,840 | 9% |
| Price | $514.9K | $715.0K | 3% |
| Price per sq ft | $319 | $316 | 51% |
| Built year | 1989 | 1997 | 29% |
| HOA | $348.0 | $0 | 86% |
| Days on market | 46 | 183 | 3% |
Pricing History
Listed for Sale
Jan 20, 2026
$514,900
Initial Listing
Sold
Mar 31, 2017
$308,500
Public Record



















































