42545 Pegasus, Big Bear Lake, California 92315, Big Bear Lake, 92315 - 5 bed, 4 bath
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Big Bear Lake, California 92315
This Luxury Mountain Estate is a Prime Investment Opportunity, listed at $1,375,000—positioned well below the $1,426,392 Fair Market Value by 3%. This valuation gap offers $51,392 in Instant Equity. Maintaining a Good Condition Rating, the turn-key home features Dual Ski Slope Views, a Granite Kitchen, and a multi-generational layout ideal for hosting. Despite lower elementary school ratings, the property's location in prestigious Castle Glen ensures long-term desirability. This is an exceptional find for Owner-Occupants or Short-Term Rental Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 42545 Pegasus Subject | $1,375,000* List Price | 5 | 4 | 3,776 | $389 | - |
A 463 Windsong Place Sold | $1,700,000 | 4 | 4 | 3,596 | $473 | 0.5 mi |
B 42285 42285 Castle Crag Sold | $1,599,000 | 5 | 5 | 4,884 | $327 | 0.4 mi |
C 487 Fallen Leaf Road Sold | $1,325,000 | 4 | 4 | 3,116 | $425 | 0.3 mi |
D 195 Teakwood Drive Sold | $1,200,000 | 4 | 4 | 2,792 | $430 | 0.2 mi |
E 42324 Eagle Ridge Active | $1,700,000 List Price | 6 | 4 | 4,146 | $410 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 2002, this luxury mountain estate is in move-in ready, turn-key condition. The property features high-quality finishes including granite countertops, stainless-steel appliances, and vaulted tongue-and-groove ceilings. While the architectural style and cabinetry reflect the original construction era, the home has been exceptionally well-maintained with functional dual-zone systems (heating and water) and no apparent deferred maintenance, placing it firmly in the 'good' category.
Situated in the prestigious Castle Glen neighborhood, this property offers rare dual ski slope views of Bear Mountain and Snow Summit while backing onto unbuildable forest for permanent privacy.
The 3,776 sqft floor plan is expertly designed for hosting, featuring dual primary suites, two separate living rooms, and two laundry rooms, providing excellent privacy for large groups or rental guests.
This turn-key estate showcases classic luxury mountain architecture with vaulted tongue-and-groove ceilings, granite countertops, and an oversized garage specifically designed for mountain gear and vehicles.
The assigned elementary and middle schools have low performance ratings (2 and 3 respectively), which may limit the property's appeal to families looking for a primary residence.
The reverse floor plan requires navigating stairs to reach the main living area and kitchen, which can be a daily inconvenience for those with mobility concerns or when transporting groceries.
Perched at the top of prestigious Castle Glen on Pegasus Way, this luxury retreat captures breathtaking ski slope views of both Bear Mountain and Snow Summit. Designed with a reverse floor plan to maximize the scenery, the home features vaulted tongue-and-groove ceilings and expansive upper and lower decks overlooking unbuildable forest with a peek of the lake. Offering 5 bedrooms plus an additional office and 4 full bathrooms, the layout is ideal for hosting and privacy alike. The main level includes 3 bedrooms and 2 baths, while the lower level offers 2 bedrooms, an office, and 2 baths. Two spacious primary suites feature walk-in closets and direct deck access. Each level is complete with its own living room, fireplace, and laundry room. Dual forced-air heaters and dual water heaters provide comfort and efficiency year-round. The kitchen is appointed with granite countertops and stainless-steel appliances. Turn-key and thoughtfully designed, this mountain estate also includes a way oversized two-car garage—perfect for vehicles, toys, and gear.
No exterior & parking available.
Grades K-6 • 2.2 mi
Grades 7-8 • 1.7 mi
Grades 9-12 • 2.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 92% |
| Baths | 4.0 | 2.0 | 79% |
| Square foot | 3,776 | 1,488 | 95% |
| Lot Size | 15,000 | 8,000 | 82% |
| Price | $1.38M | $590.0K | 92% |
| Price per sq ft | $364 | $396 | 35% |
| Built year | 2002 | 1976 | 83% |
| HOA | $0 | $0 | 50% |
| Days on market | 57 | 213 | 3% |
Feb 24, 2026
$1,375,000
Initial Listing
Oct 16, 2014
$850,000
Public Record
Oct 19, 2001
$110,000
Public Record