23701 Norma, Canyon Lake, CA 92587
23701 Norma, Canyon Lake, CA 92587
Property Description
Incredible Investment Opportunity – 2 Parcels Included! This exceptional package features a primary home plus the adjacent vacant Lot 21, adding 5,227 sq. ft. of versatile space. It is perfect for parking recreational vehicles, boats, and toys, or constructing a future rental property/ADU. The property is located within EMWD Sewer Project Subarea 4 (mainline construction is actively underway nearby on Goetz Rd), positioning this street for a near-future city sewer hookup to unlock massive development potential. Premium, high-quality upgrades are built-in throughout the home: The kitchen features newer vinyl, while the bedrooms showcase completed wood-look tile laid over a heavy-duty HardieBacker and waterproof RedGard subfloor system. The living room tile installation is currently underway and will be 100% completed by the seller prior to the Close of Escrow (COE). Features a C-24 certified septic system (following extensive prior root remediation), an efficient HVAC heat pump (approx. 14 years old), a stable 14-year-old roof, and a newer 4-year-old propane stove. The kitchen cabinets and bedroom closets boast a sturdy, custom homemade solid plywood build, providing a durable foundation built to last and ready for your custom paint. The rooftop solar system will be fully paid off out of seller proceeds at close, leaving the buyer with ZERO monthly solar payments or lease obligations.
Features & Amenities
Property Details
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Comparative Market Analysis
Affordable Tier · 5 active · 5 closed
Canyon Lake · Single Family Residence
Listed 7.6% above the median closed sale of $395,000. Price per sqft ($485) is a 20% premium to closed comps ($405). Closed comps sold at 103% of list — strong seller's market.
Price Position
Positioned above the market — commands a premium.
Active Properties (5)
Active Comparables
| Address | City | Year | BD | BTH | SqFt | LotSz | LP/SqFt | LP | DIM | Score |
|---|---|---|---|---|---|---|---|---|---|---|
| 23545 Norma | Menifee | 1947 | 2 | 1 | 887 | 4,792 | $411 | $365,000 | 31 | 90 |
| 28720 Williams | Canyon Lake | 1973 | 2 | 1 | 1,008 | 10,019 | $446 | $450,000 | 34 | 85 |
| 23831 Clara | Menifee | 1950 | 2 | 1 | 911 | 14,810 | $472 | $430,000 | 63 | 83 |
| 23495 Casa Bonita Avenue | Menifee | 1987 | 3 | 2 | 1,011 | 7,405 | $483 | $488,000 | 38 | 78 |
| 28731 Portsmouth | Menifee | 1969 | 2 | 2 | 1,549 | 8,712 | $265 | $410,000 | 60 | 54 |
| Total: 5 · Average | 2.2 | 1.4 | 1,073.2 | 9,147.6 | $415.4 | $428,600 | 45.2 | |||
| Median | 1,008 | $430,000 | ||||||||
Closed Properties (5)
Closed Comparables
| Address | City | Year | Date | BD | BTH | SqFt | LotSz | LP | SP | SP/SqFt | SP/LP | DIM | Score |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23561 Clara | Menifee | 1986 | 09/18/2026 | 2 | 1 | 910 | 5,227 | $414,900 | $415,000 | $456 | 1.00 | 93 | 96 |
| 23581 Lake | Menifee | 1961 | 08/31/2026 | 3 | 1 | 884 | 5,227 | $379,999 | $385,000 | $436 | 1.01 | 34 | 86 |
| 23800 Lucas | Menifee | 1959 | 09/11/2026 | 2 | 1 | 1,008 | 4,792 | $389,000 | $395,000 | $392 | 1.01 | 72 | 84 |
| 23821 Norma Drive | Menifee | 1943 | 11/13/2025 | 3 | 2 | 1,030 | 5,227 | $420,000 | $430,000 | $417 | 1.02 | 94 | 73 |
| 28530 Williams Drive | Quail Valley | 1953 | 10/30/2026 | 3 | 1 | 1,200 | 14,811 | $350,000 | $390,000 | $325 | 1.11 | 86 | 72 |
| Total: 5 · Average | 2.6 | 1.2 | 1,006.4 | 7,056.8 | $403,000 | $403,000 | $405.2 | — | 75.8 | ||||
| Median | 1,008 | $395,000 | $395,000 | ||||||||||
Market Analysis
List vs Sale $/SqFt
Sale Price Trend
Days on Market
Sale vs List Price
This analysis was generated automatically from MLS data. For an in-depth, human-reviewed valuation, contact Joseph Sardella at josephsardella@gmail.com.