9158 Falcon Creek Circle, Elk Grove, CA 95624, Elk Grove, 95624 - 3 bed, 3 bath
ACTIVE$524,000
9158 Falcon Creek Circle, Elk Grove, CA 95624
3Beds
3Baths
1,930Sqft
7,963Lot
Year Built
1983
Close
-
List price
$524K
Original List price
-
Price/Sqft
$272
HOA
$0
Days on market
-
Sold On
-
MLS number
225081865
Home ConditionPoor
Features
View-
About this home
Possibly Over-Priced:The estimated price is 18% below the list price. We found 3 Cons,6 Pros. Rank: price - $524.0K(26th), sqft - 1930(44th), beds - 3(42th), baths - 3(50th).
Priced at only $524k! This home has 4/5 bedrooms and 3 full bathrooms. One of the bedrooms and bathrooms is located in a full sized studio (garage conversion). The home is being used as a rental with the studio bringing in $1900 a month and each of the other 4 bedrooms renting for $900 each. Also, if you are looking for a home to help care of a parent/elder, this home would be perfect as the studio has a full kitchen and full bathroom. The home has a potential $5500 a month.
Price History
Date
Event
Price
06/18/25
Price Change
$524,000
03/29/10
Sold
$168,000
Condition Rating
Poor
Built in 1983, this property is over 40 years old. The main kitchen features very dated oak cabinets, laminate countertops, and older white appliances (except for the refrigerator), along with an outdated fluorescent light fixture. The bathrooms exhibit extremely dated linoleum flooring, basic vanities, and popcorn ceilings, indicating a lack of significant renovation in decades. Carpets appear worn, and popcorn ceilings are prevalent throughout the main living areas. While functional, the property requires substantial aesthetic and functional rehabilitation to meet current quality standards and overcome significant physical depreciation and rental wear and tear.
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 = 7963, living area = 1930.
Exceptional Income Potential: The property boasts a significant potential rental income of $5500 per month, with a proven track record from the existing studio ($1900/month) and individual room rentals ($900/month each), making it a strong investment opportunity.
Versatile Living Arrangements: A full-sized studio with its own kitchen and bathroom, created from a garage conversion, offers ideal flexibility for multi-generational living, an in-law suite, or an additional income-generating unit.
Competitive Price Point: Priced at $524,000, this property offers substantial value given its 4-5 bedrooms, 3 full bathrooms, and robust income-generating capabilities in the Elk Grove market.
Generous Room Count: With 4-5 bedrooms and 3 full bathrooms, the home provides ample space, catering to larger families or multiple tenants, enhancing its appeal and functionality.
No Homeowners Association (HOA) Fees: The absence of HOA fees significantly reduces monthly carrying costs, offering greater financial flexibility for both owner-occupants and investors.
Cons
Property Age: Built in 1983, the home is over 40 years old, which may suggest that some systems, finishes, or components could be original and potentially require updating or maintenance in the near future.
Garage Conversion Impact: The studio is a garage conversion, which typically reduces available parking and storage space, and may raise questions regarding the quality of the conversion or its permitting status.
Potential for Rental Wear and Tear: Currently utilized as a multi-unit rental property, there is an increased likelihood of wear and tear on interior finishes and systems, which could necessitate immediate or future renovation expenses.