692 Gateway, Merced, California 95340, Merced, 95340 - 3 bed, 2 bath
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Merced, California 95340
This Value-Add Residential Asset is listed at $359,000, representing a stable acquisition at its $359,000 Fair Market Value. Located in a prime North Merced neighborhood within the Merced Union High School District, the property features cathedral ceilings, a gas fireplace, and a low-maintenance yard. Currently holding a Condition Rating of 4, the home requires cosmetic updates to flooring and cabinetry to meet modern standards. With local comparable sales reaching up to $400,000, this property offers a strategic entry point for Fix-and-Flip Investors or Owner-Occupants looking to build immediate sweat equity through modernization.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 692 Gateway Subject | $359,000* List Price | 3 | 2 | 1,571 | $229 | - |
A 978 Doe Court Sold | $373,000 | 3 | 2 | 1,578 | $236 | 0.1 mi |
B 3922 Black Hawk Sold | $400,000 | 3 | 2 | 1,591 | $251 | 0.5 mi |
C 562 Sunset Sold | $377,000 | 4 | 2 | 1,615 | $233 | 0.2 mi |
D 3334 El Capitan Ct Sold | $350,000 | 3 | 2 | 1,418 | $247 | 0.5 mi |
E 3559 Vernal Avenue Sold | $350,000 | 3 | 2 | 1,425 | $246 | 0.2 mi |
F 3482 Arch Rock Road Sold | $395,000 | 3 | 2 | 1,527 | $259 | 0.3 mi |
G 3877 Pintail Court Active Under Contract | $460,000 List Price | 3 | 2 | 1,716 | $268 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 2004, the property is over 20 years old and shows signs of deferred cosmetic maintenance. While the layout is functional, the interior features original oak cabinetry, tile countertops, and fluorescent lighting that are now dated. Images reveal significant wear on the carpets, scuffed walls needing paint, and physical damage to the bottom of the garage-entry door. It requires minor updates and repairs to be move-in ready by modern standards.
The property is ideally situated in a highly desirable North Merced neighborhood, offering exceptional proximity to medical offices, shopping centers, restaurants, and schools.
The home boasts an inviting open floor plan with cathedral ceilings, tile flooring, and a gas fireplace, creating a spacious and contemporary living environment.
The yard is designed for low maintenance, making it an excellent choice for busy professionals or those looking to minimize outdoor upkeep without sacrificing curb appeal.
The laundry facilities are located within the garage rather than the main living area, which may be a convenience drawback for some buyers.
The property has undergone a recent price reduction from its original listing, suggesting initial market resistance or a need to align with current buyer expectations.
3 Bedroom, 2 bath 1,568 sq ft., on 6,214 sq ft lot. Built in 2004. Nice open floor plan, tile floors, cathedral ceilings, nice open kitchen, gas fireplace and bay window. In the 2 car garage is a laundry room, off of it on left side Low maintenance yard. Great Location in North Merced close to Dr.s offices, shopping, restaurants and schools.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,571 | 1,572.5 | 50% |
| Lot Size | 6,214 | 7,500 | 20% |
| Price | $359.0K | $376.0K | 40% |
| Price per sq ft | $229 | $246 | 36% |
| Built year | 2004 | 1966 | 94% |
| HOA | $0 | $0 | 50% |
| Days on market | 100 | 161 | 33% |
Mar 28, 2026
$359,000
$375,000
-4% Price Drop
Initial Listing
Jan 12, 2026
$375,000
Initial Listing
Feb 23, 2005
$330,000
Public Record
Nov 30, 2004
$179,000
Public Record