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42791 Ursa Major Way, Big Bear Lake, California 92315, Big Bear Lake, 92315 - 3 bed, 3 bath

42791 Ursa Major Way, Big Bear Lake, California 92315 home-pic-0
ACTIVE$925,000
42791 Ursa Major Way, Big Bear Lake, California 92315
3Beds
3Baths
2,702Sqft
7,748Lot

Price Vs. Estimate

The estimated value ($655,497.64) is $269,502.36 (29%) lower than the list price ($925,000). This property may be overpriced.

Key pros and cons

Top Pros:
Investment Potential (Short-Term Rental): Explicitly marketed as a furnished home with strong potential for short-term rental income, appealing to investors seeking a vacation property.
Top Cons:
Significant Overpricing: The current list price of $925,000 is considerably above the estimated market value of approximately $655,497, suggesting it may be overpriced relative to comparable properties.

Compared to the nearby listings

Price:$925.0K vs avg $640.0K (+$285,050)78%
Size:2,702 sqft vs avg 1,738 sqft84%
Price/sqft:$342 vs avg $39523%

More Insights

Built in 1984 (41 years old).
Condition: Built in 1984, this property has undergone significant updates, making it move-in ready. The kitchen features high-end stainless steel Viking appliances, granite countertops, and a large pantry, indicating a substantial renovation. Premium laminate flooring throughout the home is a modern and durable upgrade. While the bathrooms appear clean and functional with updated fixtures and tiling, their style is not ultra-modern, suggesting they might be part of an earlier renovation phase or a more classic update. The presence of central heating and air, along with well-maintained overall aesthetics, supports a 'Good' rating, as it requires no immediate renovations and major systems are functional, aligning with a property extensively renovated within the last 5 to 15 years.
Year Built
1984
Close
-
List price
$925K
Original List price
$949K
Price/Sqft
$342
HOA
-
Days on market
-
Sold On
-
MLS number
P1-21649
Home ConditionGood
Features
Good View: Mountain(s), Trees/Woods
Deck
Spa
ViewMountain(s), Trees/Woods

About this home

Furnished Home primed for an incredible opportunity for a short-term rental investment! Nestled within the majestic San Bernardino Mountains. This custom home is located in the sought-after Fox Farm area of Big Bear Lake on a level lot of 7748 Square Feet (per tax accessor data) perfect for RV parking. You will be greeted by a welcoming front porch and updated home that boasts a large living room, family room with vaulted ceilings, stately dining room to host wonderful parties, indoor tavern, and a BONUS downstairs Game Room with a half bath that is approximately 300 Extra Square Feet of Living Space. The chef's kitchen has gorgeous granite counters, six burner Viking cooktop, stainless steel appliances, large pantry, and is an entertainer's dream. Some other highlights of the home include a large redwood deck of approximately 900 Square Feet, premium laminate flooring throughout, Central Heating and Air, an abundance of windows, vaulted ceilings, a beautiful fireplace, two wood burning stoves, a finished garage, an indoor laundry room and a primary suite with a full bath. Take pleasure in grilling out on the deck and soaking in the sizeable hot tub while watching the starlit night sky. Whether you are in the market for a primary residence or vacation home retreat to escape the hustle and bustle of city life 42791 Ursa Major Way is the home for you with 2702 Square Feet of Living Space. Minutes away from the Lake, hiking trails, Ski slopes, Village shopping, restaurants, 4X4 trails, and Alpine Zoo.

Nearby schools

2/10
Big Bear Elementary School
Public,•K-6•2.1mi
3/10
Big Bear Middle School
Public,•7-8•1.6mi
6/10
Big Bear High School
Public,•9-12•2.7mi
Condition Rating
Good
Built in 1984, this property has undergone significant updates, making it move-in ready. The kitchen features high-end stainless steel Viking appliances, granite countertops, and a large pantry, indicating a substantial renovation. Premium laminate flooring throughout the home is a modern and durable upgrade. While the bathrooms appear clean and functional with updated fixtures and tiling, their style is not ultra-modern, suggesting they might be part of an earlier renovation phase or a more classic update. The presence of central heating and air, along with well-maintained overall aesthetics, supports a 'Good' rating, as it requires no immediate renovations and major systems are functional, aligning with a property extensively renovated within the last 5 to 15 years.
Pros & Cons

Pros

Investment Potential (Short-Term Rental): Explicitly marketed as a furnished home with strong potential for short-term rental income, appealing to investors seeking a vacation property.
Desirable Location & Accessibility: Situated in the sought-after Fox Farm area of Big Bear Lake, offering convenient access to the lake, ski slopes, hiking trails, and village amenities.
Extensive Entertainment Spaces: Features multiple dedicated entertainment areas including a large living room, family room with vaulted ceilings, indoor tavern, and a bonus downstairs game room.
Upgraded Chef's Kitchen: Equipped with a high-end chef's kitchen featuring granite counters, a six-burner Viking cooktop, stainless steel appliances, and a large pantry.
Outdoor Living & Amenities: Includes a substantial 900 sq ft redwood deck and a sizeable hot tub, ideal for outdoor entertaining and relaxation.

Cons

Significant Overpricing: The current list price of $925,000 is considerably above the estimated market value of approximately $655,497, suggesting it may be overpriced relative to comparable properties.
Property Age: Built in 1984, the property is 40 years old, which may imply potential for older systems or components not explicitly updated, and could require future maintenance considerations.
Bedroom Count vs. Square Footage: With 3 bedrooms for 2702 square feet, the property offers a lower bedroom-to-square-footage ratio compared to some comparables, potentially limiting appeal for larger families or higher occupancy short-term rental groups.

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