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29231 Spectra Drive, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 3 bed, 2 bath

29231 Spectra Drive, Lake Elsinore, California 92530 home-pic-0
ACTIVE$554,900
29231 Spectra Drive, Lake Elsinore, California 92530
3Beds
2Baths
1,753Sqft
10,019Lot
Year Built
2010
Close
-
List price
$555K
Original List price
$590K
Price/Sqft
$317
HOA
$150
Days on market
-
Sold On
-
MLS number
PW25129561
Home ConditionFair
Features
Good View: Mountain(s)
Patio
ViewMountain(s)

About this home

Possibly Over-Priced:The estimated price is 5% below the list price. We found 3 Cons,6 Pros. Rank: price - $554.9K(32th), sqft - 1753(46th), beds - 3(50th), baths - 2(50th).

Back on the Market, pending cancellation of current escrow. Seller nor buyers' fault. Take advantage of the decreasing rates now and purchase under market, this property is the lowest priced within a 1 mile radius! The sales price has been reduced by a whopping $35K to help you afford the carpet replacement and paint!! Beautiful corner property in the Cambria Hills of Lake Elsinore! This is a corner home in a beautiful neighborhood, with 4 bedrooms, 2 bathrooms, formal dining room, open kitchen to the spacious family room. Hiking nearby, take a beautiful walk down toward the Lake and enjoy majestic lake views along your walk down. Bask in the serenity, the clear skies and all of the trees around this beautiful, picturesque neighborhood. The front entry is spacious, and the backyard too is very roomy, sitting on over 10,000 sqft lot with lots of privacy and perfect to enjoy long leisure summer days with family, BBQing and creating many new beautiful memories.

Nearby schools

6/10
Rice Canyon Elementary School
Public,•K-5•0.8mi
4/10
Terra Cotta Middle School
Public,•6-8•1.4mi
5/10
Lakeside High School
Public,•9-12•2.5mi

Price History

Date
Event
Price
08/07/25
Price Change
$554,900-2.6%
08/06/25
$569,900
06/09/25
$589,900
Condition Rating
Fair
Built in 2010, the property's major systems are likely functional and within their expected lifespan. However, the listing explicitly states the need for 'carpet replacement and paint,' indicating immediate cosmetic updates are required. The kitchen, while functional with granite countertops and stainless steel appliances, features wood-tone cabinets that reflect its 2010 build and are not considered modern. This aligns with a 'Fair' condition, as it requires minor updates or repairs to be fully move-in ready and aesthetically current.
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 = 10019, living area = 1753.
Competitive Pricing & Value: The property is positioned as the 'lowest priced within a 1 mile radius' and has seen a significant $35,000 price reduction, offering strong value for potential buyers.
Large Corner Lot with Privacy: Situated on a beautiful corner lot exceeding 10,000 sqft, the property offers ample outdoor space and enhanced privacy, ideal for leisure and entertaining.
Desirable Neighborhood & Natural Surroundings: Located in the picturesque Cambria Hills, the neighborhood offers serenity, clear skies, abundant trees, and proximity to hiking trails with majestic lake views.
Modern Construction & Functional Layout: Built in 2010, the home features a relatively modern structure with a practical layout including 4 bedrooms, 2 bathrooms, a formal dining room, and an open kitchen to a spacious family room.
Good Local Elementary School: Rice Canyon Elementary School, with a rating of 6, is conveniently located just 0.78 miles away, making it an attractive feature for families with young children.

Cons

Immediate Cosmetic Updates Required: The listing explicitly notes the need for 'carpet replacement and paint,' indicating immediate out-of-pocket expenses for the buyer to refresh the interior.
Prior Escrow Cancellation: The property is 'Back on the Market, pending cancellation of current escrow,' which, despite being stated as 'nor seller nor buyers' fault,' may raise questions or concerns for some prospective buyers.
Monthly Association Fees: The property incurs a monthly association fee of $150.0, which adds to the ongoing cost of homeownership and should be factored into a buyer's budget.

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