517 Lemon, Redlands, California 92374, Redlands, 92374 - 3 bed, 2 bath
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517 Lemon
Redlands, California 92374
ACTIVE
CONDITION: FAIR
3Beds
2Baths
1,222Sq Ft
6,375Lot Size
Property Price
LIST PRICE$549,000
EST. MARKET VALUE
$517,057
6% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $549,000—positioned well above the $517,058 Fair Market Value by 6%. While currently priced above market, the Condition Rating of 4 and potential for an ADU on the 6,375 sq. ft. lot offer significant value-add potential. Located steps from the award-winning Redlands High School and the University of Redlands, this asset is perfectly positioned for Buy-and-Hold Investors or first-time buyers seeking to build long-term equity through cosmetic modernization.
Estimated Market Value
$517,057
Based on Realkey algorithm analyzing recent comparable sales in Redlands.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 517 Lemon Subject | $549,000* List Price | 3 | 2 | 1,222 | $423 | - |
A 709 Bermuda Sold | $610,000 | 3 | 1 | 1,654 | $369 | 0.2 mi |
B 323 E Colton Sold | $585,000 | 3 | 2 | 1,536 | $381 | 0.9 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 1952, this property is significantly dated and exceeds the 20-year threshold for original or older renovations. While the listing mentions central air/heat and suggests it is move-in ready with 'minimal TLC' (carpet and paint), the provided images show a bathroom with older fixtures and flooring that likely haven't been updated in over 20 years, fitting the criteria for a dated home needing minor repairs and modernization.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Educational & University Proximity
Located steps from the award-winning Redlands High School and less than a mile from the University of Redlands, this property offers exceptional appeal for families and high rental demand for student housing investors.
- Expansion & ADU Potential
The generous 6,375 sq. ft. lot features a spacious backyard with dedicated space for a potential Accessory Dwelling Unit (ADU), providing an excellent opportunity to increase property value and rental income.
- High Value Entry Point
Priced competitively for one of Redlands' most desirable pockets, the home requires only minimal cosmetic TLC—such as new carpet and paint—allowing buyers to build immediate sweat equity.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
- Vintage Infrastructure
Built in 1952, the property may require updates to aging systems or structural components typical of mid-century homes that are not immediately addressed by cosmetic repairs.
- Compact Interior Layout
At 1,222 sq. ft. for a three-bedroom configuration, the living spaces and individual rooms may feel constrained for families seeking a more modern, open-concept floor plan.
About 517 Lemon
Charming Redlands home in a great location, great opportuinity for a first time entry buyer. Situated in one of Redlands' most desirable pockets. Featuring 2 bedrooms, 1.75 baths, and a versatile bonus den/bedroom with it's own full bathroom. Steps away from Redlands High School. Known for a very strong Advanced Placement (AP) and Honors track. A multi-time recipient of the California Distinguished School Award and a California Gold Ribbon School. Enjoy a cozy living area with a brick fireplace in the living room, central air and heat, an attached 2-car garage. The 6,375 sq. ft. lot offers a spacious backyard, great for gatherings with potential ADU space. Offers beautiful mountain views. Located on a quiet street less than a mile from the University of Redlands (just a 2-minute drive) and minutes from the shopping and dining of historic Downtown Redlands. Whether looking for a primary residence or a high-demand rental investment near the university, this location is tough to beat. Perfect for a buyer looking for a well priced home with minimal repairs to make it their own. Perfect for an investor who would consider a student housing and or rental property. Needs very minimal TLC. Carpet, paint and move in! Come take a look at this property today.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1952
- Lot Size
- 6,375 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 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 | 3.8 |
| Baths | 2.0 | 2.6 |
| Square foot | 1,222 | 1,801.644 |
| Lot Size | 6,375 | 8,387.844 |
| Price | $549.0K | $681.9K |
| Price per sq ft | $449 | $378 |
| Built year | 1952 | 1982 |
| HOA | $0 | $141 |
| Days on market | 5 | 55 |
Pricing History
Listed for Sale
Sep 4, 2026
$549,000
Initial Listing