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622 Esther Way, Redlands, California 92373, Redlands, 92373 - 4 bed, 3 bath

622 Esther Way, Redlands, California 92373 home-pic-0
ACTIVE$685,000
622 Esther Way, Redlands, California 92373
4Beds
3Baths
1,746Sqft
8,505Lot

Price Vs. Estimate

The estimated value ($653,979.455) is $31,020.545 (4%) lower than the list price ($685,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8505, living area = 1746.
Top Cons:
Older Construction: Built in 1955, the property's age may imply potential for older underlying infrastructure or systems not fully addressed by the 'newly renovated' description, which often focuses on cosmetic updates.

Compared to the nearby listings

Price:$685.0K vs avg $822.0K ($-137,000)35%
Size:1,746 sqft vs avg 2,090 sqft32%
Price/sqft:$392 vs avg $38853%

More Insights

Built in 1955 (70 years old).
Condition: Despite being advertised as 'newly renovated,' the property, built in 1955, shows significant signs of outdated features. The kitchen includes older white appliances and a dated wall oven, along with a mosaic tile backsplash that is not current. One bathroom features a very dated orange/peach tiled countertop, contrasting with a seemingly newer, but basic, patterned shower floor. While the property appears clean with fresh paint and grey carpeting, these are largely cosmetic updates. The overall condition suggests regular upkeep and some updates, but not a comprehensive, modern renovation within the last 5-15 years, leaving key areas like the kitchen and bathrooms requiring minor updates to meet contemporary standards.
Year Built
1955
Close
-
List price
$685K
Original List price
$750K
Price/Sqft
$392
HOA
-
Days on market
-
Sold On
-
MLS number
OC25154506
Home ConditionFair
Features
Patio
View-

About this home

Calling All Long term or Short term Investors! Located in one of Redlands’ most sought-after neighborhoods, this newly renovated 1,746 sq. ft. home presents an outstanding investment opportunity. Featuring 4 bedrooms and 3 bathrooms on an expansive 8,505 sq. ft. lot, the property offers versatile living options and strong rental potential. The back bedroom suite includes its own private bathroom, laundry area, and separate backyard entrance—perfect for conversion into an ADU studio or rental unit. Investors will appreciate the potential for dual income, with the ADU studio estimated to rent for up to $1,500/month and the main home commanding up to $3,500/month. Or Imagine having you're own Short term rental business and bring in even more investment income! Conveniently situated near shopping, dining, and all that Redlands has to offer, this property is ideal for house hackers, income property seekers, or anyone looking to maximize return on investment while enjoying a comfortable, move-in-ready home in a prime location.

Condition Rating
Fair
Despite being advertised as 'newly renovated,' the property, built in 1955, shows significant signs of outdated features. The kitchen includes older white appliances and a dated wall oven, along with a mosaic tile backsplash that is not current. One bathroom features a very dated orange/peach tiled countertop, contrasting with a seemingly newer, but basic, patterned shower floor. While the property appears clean with fresh paint and grey carpeting, these are largely cosmetic updates. The overall condition suggests regular upkeep and some updates, but not a comprehensive, modern renovation within the last 5-15 years, leaving key areas like the kitchen and bathrooms requiring minor updates to meet contemporary standards.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8505, living area = 1746.
Strong Investment & Income Potential: The property is explicitly marketed for investors, house hackers, and short-term rentals, with clear dual-income estimates (up to $1,500/month for ADU, $3,500/month for main home) and significant income generation opportunities.
Newly Renovated & Move-in Ready: Described as 'newly renovated' and 'move-in-ready,' the home offers updated aesthetics and functionality, reducing immediate expenses for a new owner.
Desirable & Convenient Location: Situated in 'one of Redlands’ most sought-after neighborhoods' and 'conveniently situated near shopping, dining, and all that Redlands has to offer,' indicating a prime and accessible location.
ADU Conversion Potential: A dedicated back bedroom suite with its own private bathroom, laundry area, and separate backyard entrance is perfectly set up for conversion into an ADU studio or rental unit, adding significant value and versatility.
Generous Lot Size: The property boasts an 'expansive 8,505 sq. ft. lot,' providing ample outdoor space for recreation, landscaping, or potential future expansion.

Cons

Older Construction: Built in 1955, the property's age may imply potential for older underlying infrastructure or systems not fully addressed by the 'newly renovated' description, which often focuses on cosmetic updates.
Lack of Views: The property explicitly states 'view: None,' which might be a drawback for buyers prioritizing scenic surroundings or panoramic vistas.
Recent Price Reductions: The listing history shows multiple price drops from the original $750,000 to the current $685,000, which could suggest initial overpricing or challenges in attracting buyers at previous price points.

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