575 Prairie Way, Perris, California 92571, Perris, 92571 - 3 bed, 2 bath
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Perris, California 92571
This Value-Add Residential Asset is listed at $455,000, currently positioned above the $428,261 Fair Market Value. The property features a highly efficient 900 sqft, 3-bedroom, 2-bathroom layout with a neighborhood view and holds a Fair Condition Rating, signaling a clear opportunity for forced appreciation through interior modernization. Situated within the Perris Union High district and conveniently located near local shopping and transit, the home offers a practical lifestyle in an established neighborhood. This property represents a strategic entry-level opportunity for Buy-and-Hold Investors or first-time buyers focused on long-term value-add potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 575 Prairie Way Subject | $455,000* List Price | 3 | 2 | 900 | $476 | - |
A 484 Harvest Sold | $410,000 | 3 | 2 | 900 | $456 | 0.1 mi |
B 531 Wildwood Sold | $479,000 | 3 | 2 | 1,045 | $458 | 0.1 mi |
C 513 Wildwood Sold | $440,000 | 2 | 1 | 820 | $537 | 0.1 mi |
D 1878 Neptune Sold | $440,000 | 2 | 2 | 946 | $465 | 0.5 mi |
E 695 Clearwater Drive Sold | $469,000 | 3 | 2 | 1,036 | $453 | 0.6 mi |
F 702 Clearwater Drive Sold | $495,000 | 3 | 2 | 1,036 | $478 | 0.5 mi |
G 1562 Remembrance Drive Pending | $405,000 List Price | 2 | 2 | 930 | $435 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1988, this 36-year-old property fits the 'fair' criteria as it is aged but appears maintained. The exterior shows typical wear for its age, including a cracked driveway and weathered wooden planter boxes. The listing description's mention of an 'opportunity to make it your own' strongly suggests that the interior finishes, kitchen, and bathrooms are likely original or dated and would benefit from modern updates, although the home remains functional for a first-time buyer.
Priced competitively for the Perris market, this property represents an excellent entry point for first-time buyers looking to transition from renting to homeownership.
The 3-bedroom, 2-bathroom configuration provides a highly functional layout that maximizes utility and privacy within a single-family residence.
The property is ideally situated near schools, shopping, and everyday amenities, offering a practical and accessible lifestyle for busy families.
At 900 square feet, the living space is quite compact for a three-bedroom home, which may feel restrictive for those needing larger common areas or extra storage.
A significant upward price adjustment of $45,000 shortly after listing may deter value-conscious buyers and could present challenges during the appraisal phase.
Charming 3-bedroom, 2-bath home perfect for a first-time buyer or growing family. This property offers a comfortable layout, spacious living areas, and a great opportunity to make it your own. Conveniently located near schools, shopping, and everyday amenities.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 44% |
| Baths | 2.0 | 3.0 | 36% |
| Square foot | 900 | 2,111 | 3% |
| Lot Size | 4,356 | 6,518 | 29% |
| Price | $455.0K | $570.0K | 11% |
| Price per sq ft | $506 | $277 | 98% |
| Built year | 1988 | 2005 | 16% |
| HOA | $0 | $0 | 50% |
| Days on market | 33 | 184 | 1% |
Mar 25, 2026
$455,000
Initial Listing
Mar 20, 2026
$410,000
Initial Listing
Aug 26, 2021
$374,000
Public Record
Jan 21, 2010
$78,000
Public Record
Dec 22, 2008
$91,000
Public Record
Oct 31, 2008
$82,000
Public Record