505 Fair Park Way, Perris, California 92570, Perris, 92570 - 4 bed, 3 bath
505 Fair Park Way
Perris, California 92570
Property Price
SUMMARY
Analysis of 505 Fair Park Way, Perris, California 92570 reveals a property with a current list price of $640,000, which is 4% above the estimated $610,435 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Perris 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 |
|---|---|---|---|---|---|---|
★ 505 Fair Park Way Subject | $640,000* List Price | 4 | 3 | 2,352 | $260 | - |
A 3741 Tower Sold | $620,000 | 4 | 3 | 2,305 | $269 | 1.0 mi |
B 539 Pratt Court Sold | $613,000 | 4 | 2 | 2,224 | $276 | 0.2 mi |
C 542 Pratt Ct Sold | $675,000 | 4 | 4 | 3,231 | $209 | 0.2 mi |
D 20 Tap Circle Sold | $635,000 | 4 | 3 | 1,898 | $335 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
Built in 2008, this home is 16 years old and falls within the 'Good' age range. It is described as 'turnkey' and appears well-maintained with several desirable updates. The kitchen features stainless steel appliances and granite countertops, though the light wood cabinets reflect the original build era. Bathrooms also have granite and dual sinks in some, but the light fixtures and cabinet styles are somewhat dated. The property benefits from modern amenities like solar panels, smart thermostats, recessed lighting, and LVP flooring in common areas, indicating some components have been updated. While not fully renovated to a brand-new aesthetic, it is move-in ready with functional systems and minimal wear and tear.
PROSSTRENGTHS & OPPORTUNITIES
- Energy Efficiency & Smart Home Features
Equipped with 20+ solar panels, VIVANT smart thermostats for central HVAC, and a security system, offering modern convenience and potential utility savings.
- Flexible Floor Plan
Features dual master suite options (upstairs or downstairs) and a 4-bedroom, 3-bathroom layout with his & her sinks, accommodating diverse family needs.
- Modern Interior Finishes
Boasts hardwood floors in common areas, recessed lighting, stainless steel appliances, and an open-concept design, contributing to a contemporary and inviting atmosphere.
CONSRISKS & DEFICIENCIES
- Limited Outdoor Entertainment Space
While the backyard is fenced and features drought-resistant turf, there's no mention of a dedicated patio, deck, or other extensive outdoor living amenities for entertaining.
- Potential for Road Noise/Traffic
Being a corner lot, the property may experience increased road noise or traffic compared to an interior lot, depending on the street activity.
- Absence of Community Amenities Information
The description does not detail any specific community amenities (e.g., parks, pools, clubhouses) or HOA structure, which might be a factor for some buyers.
About 505 Fair Park Way
Welcome Home! A corner lot with an open concept and spacious rooms throughout. Take your pick of a master quarters upstairs or downstairs! Totaling 4 bedroom and 3 bathrooms (with his & her sinks in 2 of the 3), the whole family can have their own room! Hardwood Floors in most common spaces from the moment you hit the front door. The fireplace in the living room keeps the home cozy and just right for entertaining or family fun. Interior features include recessed lighting, stainless steel appliances, Smart thermostats (VIVANT) to control central HVAC from any mobile device, alarm system, laundry room, and an attached 2 car garage. Exterior enhancements included 20+ solar panels, drought resistant landscaped turf in the backyard, fenced in yard for added privacy, security system and more! Come tour this turnkey home today!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 2008
- Lot Size
- 6,534 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 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 | 4.0 | 4.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,352 | 2,287 | 53% |
| Lot Size | 6,534 | 9,365.5 | 25% |
| Price | $640.0K | $630.1K | 55% |
| Price per sq ft | $272 | $306 | 41% |
| Built year | 2008 | 2005 | 60% |
| HOA | $0 | $0 | 50% |
| Days on market | 401 | 204 | 99% |
Pricing History
Listed for Sale
Jan 30, 2025
$640,000
Initial Listing