308 Elmwood Avenue, Hemet, California 92543, Hemet, 92543 - 3 bed, 2 bath
ACTIVE$390,000
308 Elmwood Avenue, Hemet, California 92543
3Beds
2Baths
1,204Sqft
7,841Lot
Year Built
1951
Close
-
List price
$390K
Original List price
$390K
Price/Sqft
$324
HOA
-
Days on market
-
Sold On
-
MLS number
SW25075750
Home ConditionPoor
Features
View-
About this home
Possibly Over-Priced:The estimated price is 57% below the list price. We found 3 Cons,6 Pros. Rank: price - $390.0K(44th), sqft - 1204(37th), beds - 3(50th), baths - 2(50th).
Nice home right in the middle of town. 3 bed,2 bath home. Room are all big. Nice open floor plan. Close to shopping and schools. The back yard is huge, you nay be able to add a 2nd unit, easy access from the alley.
Condition Rating
Poor
Built in 1951, this property is 73 years old. The listing description provides no details about any recent renovations or updates to the interior, specifically the kitchen and bathrooms. The single exterior image shows an older home with a dated appearance and a worn driveway. The property analysis explicitly notes 'Age and Lack of Modern Upgrades' and the likely absence of central air conditioning. Without any evidence of updates, it is highly probable that the kitchen, bathrooms, and major systems (electrical, plumbing, HVAC) are original or very old, requiring substantial repairs and rehabilitation to meet current standards for comfort and functionality.
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 = 7841, living area = 1204.
Prime Central Location: The property is conveniently located 'right in the middle of town,' offering easy access to shopping and schools, enhancing its appeal for families and daily convenience.
Significant ADU Potential: The 'huge back yard' with 'easy access from the alley' explicitly highlights the potential to 'add a 2nd unit,' presenting a valuable opportunity for rental income or multi-generational living, as demonstrated by a neighboring property.
Spacious and Open Layout: The description notes that 'rooms are all big' and features a 'nice open floor plan,' which are desirable characteristics for comfortable living and entertaining.
Generous Lot Size: With a lot size of 7841 sqft, the property offers ample outdoor space for various uses, including gardening, recreation, or future expansion, beyond just the ADU potential.
Competitive Pricing: Listed at $390,000, the property appears competitively priced when compared to recent sales of similar homes in the immediate vicinity, especially considering its ADU potential.
Cons
Age and Lack of Modern Upgrades: Built in 1951, the property description does not mention any recent renovations or modern updates (e.g., kitchen, bathrooms, flooring, roof, windows) that are present in several comparable sold properties, suggesting potential deferred maintenance or a need for buyer-initiated improvements.
Likely Lacks Central Air Conditioning: Given the home's age and the absence of any mention of a cooling system in the description, it is highly probable that the property lacks central air conditioning, which is a significant comfort factor and common expectation in the local climate.
Automated Valuation Discrepancy: The provided automated estimation value ($164,323.02) is significantly lower than the list price and recent comparable sales, which could potentially impact appraisal or initial buyer perception if not adequately addressed.