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647 Pelion, Lake Forest, California 92630, Lake Forest, 92630 - 5 bed, 4 bath

647 Pelion, Lake Forest, California 92630 home-pic-0
ACTIVE$2,185,000
647 Pelion, Lake Forest, California 92630
5Beds
4Baths
2,676Sqft
3,532Lot

Price Vs. Estimate

The estimated value ($2,095,723.575) is $89,276.425 (4%) lower than the list price ($2,185,000). This property may be overpriced.

Key pros and cons

Top Pros:
New Construction & Modern Design: Built in 2022, this home features an open-concept floor plan with high-end finishes including wide plank laminate wood floors, Quartz countertops, a large kitchen island, and GE Profile & Monogram appliances.
Top Cons:
Low Available Lot Utilization: The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 3532, living area = 2676.

Compared to the nearby listings

Price:$2.19M vs avg $1.31M (+$875,000)91%
Size:2,676 sqft vs avg 2,130 sqft78%
Price/sqft:$817 vs avg $67587%

More Insights

Built in 2022 (3 years old).
Condition: This property was built in 2022, making it virtually brand new. The listing details and images showcase a modern, open-concept design with high-end finishes throughout. The kitchen features Quartz countertops, a large island, and premium GE Profile & Monogram appliances, including a built-in refrigerator and professional gas rangetop. Bathrooms are equally modern with contemporary fixtures, glass shower enclosures, and clean tile work. Wide plank laminate wood flooring, recessed LED lighting, and custom window treatments further enhance the property's new and high-quality condition, meeting current standards with no deferred maintenance.
Year Built
2022
Close
-
List price
$2.19M
Original List price
$2.45M
Price/Sqft
$817
HOA
$213
Days on market
-
Sold On
-
MLS number
OC25190540
Home ConditionExcellent
Features
Good View: Canyon, Hills
Patio
ViewCanyon, Hills

About this home

HUGE PRICE ADJUSTMENT! AFFORDABLE OPPORTUNITY FOR A PREMIUM LOCATION! PRIVATE! UNOBSTRUCTED VIEW & REMARKABLE SENS OF OPENNESS! Located in the planned Serrano Summit Community, this newer 2022 built home showcases an open-concept floor plan featuring expansive, multifunctional spaces designed to accommodate today’s evolving lifestyles and modern needs. With 5BR 4BA (1BR 1BA on first floor) 2-car garage with full size driveway along with desired amenities like wide plank laminate wood floor thru out, custom layered sheer and solid fabric banded window shades and drapes thru out, dual tone paint thru out, Quartz countertops, large kitchen island, GE Profile & Monogram appliances including built in refrigerator, professional gas rangetop, custom hood, and etc will further enhance your daily life. Low maintenance backyard is simple and minimalistic focused more on the special characteristics of the lot enjoying the openness without additional stress of maintaining the yard. This uninterrupted view seamlessly connects the sense of openness from the interior to the exterior creating the desired sanctuary. HOA amenities feature “the serrano club” offering pool and spa with pano-view, bbq & picnic area, club house facility, and much more, and the community park is also few blocks away providing bbq & picnic area, basketball courts, tod lot, and much more. Lake Forest Community Police Center and Civil Center located next to the community adds extra sense of security, and Foothill Ranch Towne Centre with anchor stores, shops, eateries, and more is conveniently about 10 minutes driving distance. With LOW HOA ($213/mo) and apprx 1.08% LOW PROPERTY TAX (NO MELLO ROOS) will make your pocket happy. But most importantly, you won’t find much home with this unobstructed openness in this price range.

Condition Rating
Excellent
This property was built in 2022, making it virtually brand new. The listing details and images showcase a modern, open-concept design with high-end finishes throughout. The kitchen features Quartz countertops, a large island, and premium GE Profile & Monogram appliances, including a built-in refrigerator and professional gas rangetop. Bathrooms are equally modern with contemporary fixtures, glass shower enclosures, and clean tile work. Wide plank laminate wood flooring, recessed LED lighting, and custom window treatments further enhance the property's new and high-quality condition, meeting current standards with no deferred maintenance.
Pros & Cons

Pros

New Construction & Modern Design: Built in 2022, this home features an open-concept floor plan with high-end finishes including wide plank laminate wood floors, Quartz countertops, a large kitchen island, and GE Profile & Monogram appliances.
Unobstructed Views & Privacy: The property boasts remarkable unobstructed views and a strong sense of openness, providing a private sanctuary without the stress of extensive yard maintenance.
Desirable Layout & Functionality: The home offers a practical 5-bedroom, 4-bathroom layout, including a convenient full bedroom and bathroom on the first floor, catering to diverse living needs.
Exceptional Community Amenities: Residents benefit from extensive HOA amenities at 'the serrano club,' featuring a pool, spa with panoramic views, BBQ/picnic areas, a clubhouse, and a nearby community park.
Favorable Financials & Location: The property offers significant financial advantages with a low HOA ($213/mo) and no Mello Roos, coupled with a premium location providing enhanced security and convenient access to shopping and dining.

Cons

Low Available Lot Utilization: The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 3532, living area = 2676.
Limited Outdoor Living Space: The backyard is described as 'low maintenance,' 'simple and minimalistic,' which may not appeal to buyers desiring a larger or more elaborate outdoor area for recreation or gardening.
Recent Price Reductions: Multiple price adjustments indicate potential market resistance or an initial overpricing strategy, which could lead buyers to question the property's current value.
Listing Price Above Estimated Value: Despite recent price reductions, the current listing price remains above the property's estimated market value, potentially impacting buyer perception of a fair deal.

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