23660 Parkland Avenue, Moreno Valley, California 92557, Moreno Valley, 92557 - 3 bed, 3 bath
ACTIVE$499,000
23660 Parkland Avenue, Moreno Valley, California 92557
3Beds
3Baths
1,600Sqft
3,920Lot
Year Built
1987
Close
-
List price
$499K
Original List price
$525K
Price/Sqft
$312
HOA
-
Days on market
-
Sold On
-
MLS number
IG25108985
Home ConditionFair
Features
View-
About this home
Possibly Over-Priced:The estimated price is 64% below the list price. We found 3 Cons,5 Pros. Rank: price - $499.0K(9th), sqft - 1600(33th), beds - 3(41th), baths - 3(50th).
Seller very motivated to sell, good opportunity for first buyers. there is loft that can convert it in the fourth bedroom.
Condition Rating
Fair
The property was built in 1987, making it 37 years old. The listing description lacks any mention of recent renovations or updates to key areas like the kitchen and bathrooms, which is a significant indicator that these areas likely retain their original or outdated styles and features. The property analysis also notes a 'Lack of Modern Updates' and an 'Absence of Central Cooling (Inferred),' further supporting that it would require minor to moderate updates to meet current quality standards and comfort expectations. The single exterior image does not suggest recent major upgrades. This aligns with the 'Fair' criteria of being built over 20 years ago with no major renovations since construction, and likely having functional but outdated components.
Pros & Cons
Pros
Motivated Seller & Price Adjustment: The seller is explicitly motivated to sell, and the property has undergone a price reduction from $525,000 to $499,000, indicating potential for a favorable negotiation.
First-Time Buyer Opportunity: The listing highlights this as a 'good opportunity for first buyers,' suggesting an accessible entry point into homeownership in the Moreno Valley market.
Flexible Floor Plan with Loft: The presence of a loft that can be converted into a fourth bedroom offers valuable flexibility and potential for increased living space or future value.
Full 3 Bathrooms: The property features 3 full bathrooms, which is a notable advantage over many comparable 3-bedroom homes in the area that typically offer 2.5 bathrooms, enhancing convenience.
Competitive Price Point: At $499,000, the property is priced competitively with or below several recently sold 3-bedroom homes in the immediate vicinity, offering a potentially attractive investment.
Cons
Significant Valuation Discrepancy: The listing price of $499,000 is substantially higher than the provided estimated value of $175,168, indicated by an estimation ratio of -64, which may raise concerns for buyers and lenders regarding market alignment.
Lack of Modern Updates: Unlike several recently sold comparable properties that feature new paint, flooring, updated kitchens, and bathrooms, the subject property's description does not highlight any recent renovations, suggesting potential deferred maintenance or a need for buyer-funded upgrades.
Absence of Central Cooling (Inferred): Given the Moreno Valley climate and the explicit mention of central cooling in a nearby comparable property, the lack of a cooling system in the property description suggests it may not have one, which would be a significant comfort and value detractor.