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563 Shark Street, Perris, California 92571, Perris, 92571 - 3 bed, 3 bath

563 Shark Street, Perris, California 92571 home-pic-0
ACTIVE$539,900
563 Shark Street, Perris, California 92571
3Beds
3Baths
2,218Sqft
3,920Lot
Year Built
2001
Close
-
List price
$540K
Original List price
$565K
Price/Sqft
$243
HOA
-
Days on market
-
Sold On
-
MLS number
OC25040150
Home ConditionFair
Features
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 35% below the list price. We found 3 Cons,5 Pros. Rank: price - $539.9K(46th), sqft - 2218(53th), beds - 3(43th), baths - 3(50th).

BIG price reduction!! Neat as a pin and ready for you to call home. Nestled in a fabulous well-maintained neighborhood - and with NO HOA! 3 bedrooms plus ENORMOUS oversized LOFT / BONUS ROOM offers the perfect balance of comfort and style. Need more space? The loft can easily be converted into 1 or 2 additional bedrooms, bringing the total to a possible 5! All the bedrooms are generously sized, providing ample room for relaxation. The convenience of an upstairs laundry makes everyday chores a breeze. Step outside to a huge backyard ideal for family gatherings and entertaining. And a BIG bonus with energy-efficient solar panels (pay-per-use) that will help you save significantly on your monthly utility bills. All within the vibrant Perris community featuring parks, shopping and beautiful Lake Perris. Don't miss out on this big price reduction - owner wants to sell yesterday!

Condition Rating
Fair
Built in 2001, this property is 23 years old. While generally well-maintained with clean flooring (hardwood, tile, and carpet) and fresh paint, the kitchen features older style dark wood cabinets and a somewhat dated tile backsplash. Although equipped with stainless steel appliances, the overall kitchen aesthetic is not modern. One bathroom (the powder room) shows signs of a recent update with modern fixtures and style. However, the lack of extensive recent renovations to key areas like the main kitchen and master bathroom, combined with the property's age, places it in the 'Fair' category. It is functional and move-in ready, but major components like the kitchen show signs of being outdated.
Pros & Cons

Pros

No HOA: The property is located in a well-maintained neighborhood with no Homeowners Association (HOA) fees, offering financial savings and greater freedom for the homeowner.
Flexible Living Space: Features an enormous oversized loft/bonus room that can easily be converted into one or two additional bedrooms, providing versatile living arrangements and potential for up to 5 bedrooms.
Energy-Efficient Solar Panels: Equipped with energy-efficient solar panels (pay-per-use) designed to significantly reduce monthly utility bills, offering long-term cost savings.
Large Backyard: Boasts a huge backyard, ideal for family gatherings, entertaining, and outdoor activities.
Convenient Upstairs Laundry: Includes an upstairs laundry room, adding significant convenience and ease to daily chores for residents.

Cons

Significant Overpricing: The current listing price of $539,900 is substantially higher than the estimated property value of $348,175.65, indicated by an estimation ratio of -35, which may deter potential buyers or prolong market time.
Age of Property & Potential for Updates: Built in 2001, the property is over two decades old, and the description does not highlight recent major renovations to key interior areas like the kitchen or bathrooms, which modern buyers might expect.
Solar Panel Lease/PPA: The 'pay-per-use' nature of the solar panels suggests a lease or Power Purchase Agreement (PPA), which can sometimes add a monthly payment obligation or complexity to the transaction, potentially being less appealing than fully owned systems.

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