4538 Merrill, Riverside, California 92506, Riverside, 92506 - 3 bed, 1 bath

4538 Merrill, Riverside, California 92506 home-pic-0

4538 Merrill

Riverside, California 92506

ACTIVE
CONDITION: EXCELLENT
3Beds
1Baths
1,158Sq Ft
6,970Lot Size

Property Price

LIST PRICE$605,000
EST. MARKET VALUE
$624,063
3% BelowMARKET VALUE

SUMMARY

Analysis of 4538 Merrill, Riverside, California 92506 reveals a Prime Investment Opportunity with a current list price of $605,000—significantly undercutting the $624,063 Fair Market Value by 3%. This valuation gap indicates a +$19,063 Instant Equity potential for buyers. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Riverside 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

$624,063 +$19,063 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Riverside.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
4538 Merrill
Subject
$605,000*
List Price
311,158$539-
A
4622 Sunnyside
Sold
$630,000331,288$4890.2 mi
B
4766 Merrill Avenue
Sold
$535,00031957$5590.3 mi
C
4636 Orange Vista Way
Sold
$510,00022930$5480.4 mi
D
4636 Beverly Court
Sold
$649,900321,350$4810.5 mi
E
3595 Timothy Way
Active
$605,000
List Price
311,134$5340.7 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Excellent
TeardownExcellent

Property is new construction or fully renovated.

This historical home has been extensively renovated within the last 5 years, featuring a recently replaced roof, new interior and exterior paint, and a fully modernized kitchen with a farmhouse sink and butcher block countertops. The updated bathroom and well-maintained original hardwood floors, combined with the move-in ready condition and lack of deferred maintenance, meet the criteria for an excellent rating.

PROSSTRENGTHS & OPPORTUNITIES

  • Historical Charm & Location

    Situated in the prestigious Palm Heights Historical District, this home features timeless character with original wood floors, a brick fireplace, and close proximity to the Riverside Plaza.

  • Extensive Recent Upgrades

    The property boasts significant capital improvements, including a recently replaced roof, updated interior and exterior paint, and a modernized kitchen and bathroom.

  • Private Outdoor Oasis

    The rear yard is a standout feature, offering a large swimming pool, oversized garage, and ample patio space, perfect for hosting and outdoor living.

CONSRISKS & DEFICIENCIES

  • Single Bathroom Layout

    With three bedrooms but only one full bathroom, the layout may be challenging for larger households or those seeking a private primary suite.

  • Compact Living Space

    At 1,158 square feet, the interior footprint is relatively modest for a three-bedroom home, which may limit furniture arrangement and storage options.

About 4538 Merrill

This Beautiful Pool home is located in one of Riverside's highly sought after Historical Districts, Palm Heights. Upon arrival the beautiful landscaping, recently updated exterior paint and Front Porch will welcome you in. The front entry opens into an open space with built in shelving and the wood floors that run throughout set the stage for the character this home offers. The large Livingroom features the beautiful picture window and brick fireplace. The dining room is adjacent to the living room and has an abundance of natural light that comes through the large windows. The kitchen has been updated but charm remains with a farmhouse sink, green cabinets and butcher block counter tops. The 3 good size bedrooms are conveniently located near the full bathroom. The bathroom has been updated and has a separate tub and shower. The bedroom to the rear of the home has an attached bonus room, this would be the perfect retreat area or office space. The garage is oversized and p[rovides access to the rear yard. The rear yard is your own oasis with a large pool and plenty of yard and patio space to host large get togethers. This is one of the favorite streets, the neighbors all stay connected and look out for each other. The roof was recently replaced, and the home was painted inside and outside. You can be in your new pool before Easter. The area is near local schools, the Riverside Plaza for restaurants, shopping and the Movie theater.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
1947
Lot Size
6,970 Sq. Ft.

Interior

Total Bedrooms
3
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

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds3.04.0
48%
Baths1.02.0
9%
Square foot1,1582,006
10%
Lot Size6,97010,454
14%
Price$605.0K$747.9K
19%
Price per sq ft$522$386
90%
Built year19471968
15%
HOA$0$0
50%
Days on market11184
1%

Pricing History

Listed for Sale

Feb 24, 2026

$605,000

Initial Listing

Sold

Sep 21, 2023

$550,000

Public Record

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