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

4538 Merrill
Riverside, California 92506
Property Price
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
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4538 Merrill Subject | $605,000* List Price | 3 | 1 | 1,158 | $539 | - |
A 4622 Sunnyside Sold | $630,000 | 3 | 3 | 1,288 | $489 | 0.2 mi |
B 4766 Merrill Avenue Sold | $535,000 | 3 | 1 | 957 | $559 | 0.3 mi |
C 4636 Orange Vista Way Sold | $510,000 | 2 | 2 | 930 | $548 | 0.4 mi |
D 4636 Beverly Court Sold | $649,900 | 3 | 2 | 1,350 | $481 | 0.5 mi |
E 3595 Timothy Way Active | $605,000 List Price | 3 | 1 | 1,134 | $534 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
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
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 48% |
| Baths | 1.0 | 2.0 | 9% |
| Square foot | 1,158 | 2,006 | 10% |
| Lot Size | 6,970 | 10,454 | 14% |
| Price | $605.0K | $747.9K | 19% |
| Price per sq ft | $522 | $386 | 90% |
| Built year | 1947 | 1968 | 15% |
| HOA | $0 | $0 | 50% |
| Days on market | 11 | 184 | 1% |
Pricing History
Listed for Sale
Feb 24, 2026
$605,000
Initial Listing
Sold
Sep 21, 2023
$550,000
Public Record










































