4578 Merrill, Riverside, California 92506, Riverside, 92506 - 3 bed, 1 bath
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4578 Merrill
Riverside, California 92506
ACTIVE
CONDITION: FAIR
3Beds
1Baths
1,762Sq Ft
6,970Lot Size
Property Price
LIST PRICE$599,000
EST. MARKET VALUE
$473,977
26% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $599,000—positioned well above the $473,978 Fair Market Value by -26%. While the current valuation reflects a premium, the Fair Condition Rating and the "Dream Home Program" allow for significant customization during escrow. Featuring a large 6,970 sqft lot with ADU Potential and a Patio, this asset offers substantial long-term value. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to leverage renovation for forced appreciation.
Estimated Market Value
$473,977
Based on Realkey algorithm analyzing recent comparable sales in Riverside.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4578 Merrill Subject | $599,000* List Price | 3 | 1 | 1,762 | $269 | - |
A 6156 Elenor Sold | $599,900 | 3 | 2 | 1,774 | $338 | 0.7 mi |
B 6131 Wiehe Avenue Sold | $715,000 | 5 | 3 | 1,720 | $416 | 0.4 mi |
C 6735 De Anza Sold | $670,000 | 4 | 2 | 1,768 | $379 | 0.7 mi |
D 5545 Tower Sold | $775,000 | 3 | 3 | 1,820 | $426 | 0.9 mi |
E 6176 Wiehe Sold | $665,000 | 4 | 2 | 1,645 | $404 | 0.3 mi |
F 6014 Elenor Street Sold | $610,000 | 3 | 2 | 2,092 | $292 | 0.8 mi |
G 6041 Hamilton Sold | $575,000 | 3 | 2 | 1,303 | $441 | 0.9 mi |
H 6044 Elenor Street Sold | $595,000 | 3 | 2 | 1,799 | $331 | 0.8 mi |
I 3719 Tahoe Court Active | $690,000 List Price | 3 | 2 | 1,610 | $429 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1930, the property is nearly a century old. While the interior features some updates such as laminate flooring and neutral paint (likely 10-20 years old), the home remains dated. The listing's emphasis on a 'dream home program' to remodel during escrow strongly suggests that the kitchen, bathrooms, and core systems are not modern and require updates to meet current standards.
PROSSTRENGTHS & OPPORTUNITIES
- ADU and Value-Add Potential
The property features a detached garage and a large backyard, offering significant potential to build or convert spaces into Accessory Dwelling Units (ADUs) for multi-generational living or rental income.
- Highly Desirable Location
Situated in a sought-after Riverside neighborhood characterized by classic tree-lined streets, providing strong curb appeal and long-term neighborhood stability.
- Customization Program
The 'Dream Home Program' allows buyers to remodel the property during escrow, enabling a custom-finished home without the burden of immediate out-of-pocket renovation costs after closing.
CONSRISKS & DEFICIENCIES
- Inventory Data Discrepancy
There is a conflict between the official data (3 beds/1 bath) and the description (4 beds/2 baths), which may indicate unpermitted additions or require legal clarification during due diligence.
- Vintage Infrastructure Risks
Built in 1930, the home may have aging underlying systems such as plumbing, electrical, or foundation that are common in older properties and could require future maintenance.
About 4578 Merrill
Welcome to 4578 Merrill in a highly desired neighborhood with tree- line streets and a property fit for any type of buyer. The house is move in ready, with a unique layout with 4 bedrooms and 2 bathrooms and a detached garage that could possibly be converted into an ADU. As well as, big enough backyard to build an additional ADU. This home is part of our dream home program so if there anything you want to change, update or remodel, we can do that in escrow just like new construction. This way the home is exactly the way you love it, at the close of escrow. Saving you from having to remodel it and come up with the out of pocket costs after you already paid for the down payment and the closing costs. Dont miss your opportunity to make this house your dream home!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1930
- 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 |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 1.0 | 2.3 |
| Square foot | 1,762 | 1,867.892 |
| Lot Size | 6,970 | 8,787.773 |
| Price | $599.0K | $692.3K |
| Price per sq ft | $340 | $386 |
| Built year | 1930 | 1980 |
| HOA | $0 | $151 |
| Days on market | 2 | 55 |
Pricing History
Price Change
Sep 7, 2026
$599
Initial Listing
Listed for Sale
Sep 7, 2026
$599,000
Initial Listing
Sold
Apr 25, 2014
$388,000
Public Record
Sold
Mar 26, 2013
$315,000
Public Record
Sold
Dec 10, 2012
$213,000
Public Record
Sold
Dec 3, 2003
$275,000
Public Record