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127 N Massachusetts, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 4 bed, 2 bath

127 N Massachusetts, Lake Elsinore, California 92530 home-pic-0
ACTIVE$500,000
127 N Massachusetts, Lake Elsinore, California 92530
4Beds
2Baths
1,485Sqft
7,405Lot

Price Vs. Estimate

The estimated value ($500,000) is $0 (0%) lower than the list price ($500,000). 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 = 7405, living area = 1485.
Top Cons:
Contingent Sale Status: Currently active but subject to the cancellation of escrow, which may introduce uncertainty or delays for potential buyers.

Compared to the nearby listings

Price:$500.0K vs avg $586.0K ($-86,023.5)16%
Size:1,485 sqft vs avg 1,888.5 sqft25%
Price/sqft:$337 vs avg $32059%

More Insights

Built in 1984 (41 years old).
Condition: Built in 1984, this 40-year-old property shows its age with largely original or dated features. The kitchen has 1980s-style wood cabinets, tile countertops, older appliances, and fluorescent lighting. Flooring includes dated carpets and terracotta-style tiles, and popcorn ceilings are visible throughout. While the property appears well-maintained and functional, including a well-kept pool and spa, it has not undergone significant modern renovations. Major components are functional but are outdated in style and likely nearing the end of their expected lifespan, requiring cosmetic updates and potential system replacements to meet current standards.
Year Built
1984
Close
-
List price
$500K
Original List price
$550K
Price/Sqft
$337
HOA
-
Days on market
-
Sold On
-
MLS number
SW25237753
Home ConditionFair
Features
Pool
Spa
Patio
View-

About this home

Beautiful Lake Elsinore pool home with low taxes and no HOA! This four bedroom two bath, 1485 sq ft home sits on a 7405 sq foot lot in an established neighborhood in the heart of Elsinore. Stepping inside you'll love this floor plan that features a large sitting room with fireplace, central kitchen with plenty of storage and counter space. This 4 bedroom and 2 bathroom home includes a large spacious master bedroom and 3 additional cozy rooms. Once you make you way to the backyard you will find a large in ground POOL and SPA, perfect for hot valley summer days and the best part; it is equipped with a safety fence around both pool and spa, perfect for children or pets. The home is centrally located to perfectly accommodate all needs from work commute to local shopping. In minutes you can be at the 15 Freeway, Ortega Highway, schools, parks, local shopping, restaurants or the Lake! This is a wonderful opportunity to own a home that is both affordable and close to everything! $30,000 PRICE IMPROVEMENT!! ACTIVE SUBJECT TO CANCELLATION OF ESCROW.

Condition Rating
Fair
Built in 1984, this 40-year-old property shows its age with largely original or dated features. The kitchen has 1980s-style wood cabinets, tile countertops, older appliances, and fluorescent lighting. Flooring includes dated carpets and terracotta-style tiles, and popcorn ceilings are visible throughout. While the property appears well-maintained and functional, including a well-kept pool and spa, it has not undergone significant modern renovations. Major components are functional but are outdated in style and likely nearing the end of their expected lifespan, requiring cosmetic updates and potential system replacements to meet current 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 = 7405, living area = 1485.
Private Pool & Spa: Features a large in-ground pool and spa with a safety fence, ideal for the warm climate and family enjoyment.
Favorable Financials: Benefits from low property taxes and no Homeowners Association (HOA) fees, significantly reducing monthly ownership costs.
Prime Central Location: Offers excellent accessibility to major freeways (I-15, Ortega Highway), schools, parks, shopping, restaurants, and Lake Elsinore.
Significant Price Reduction: Recently received a $30,000 price improvement, indicating a motivated seller and enhanced value proposition for buyers.
Functional Family Layout: Provides a practical 4-bedroom, 2-bathroom floor plan with a large sitting room, fireplace, and a well-equipped central kitchen.

Cons

Contingent Sale Status: Currently active but subject to the cancellation of escrow, which may introduce uncertainty or delays for potential buyers.
Aging Infrastructure: Built in 1984, the property is 40 years old, suggesting that some major systems or components may be original and could require future updates or maintenance.
Lack of Scenic Views: The property description explicitly states 'view: None,' which means it does not offer desirable lake, mountain, or city views that could otherwise enhance its market appeal and value.

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