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29120 Melby Drive — Lake Elsinore — 2 Beds • 2 Baths • 1,152 Sq Ft | Belmont Brokerage | Belmont Brokerage

Active

+15 more

$499,999

3 DOM

$434/sqft2 bd2 ba1,152 sqft

Call

29120 Melby Dr Lake Elsinore, CA 92532

33,541sqft lot

Investor Opportunity! This manufactured home sits on an expansive 0.77-acre lot, offering endless potential for those looking to create value. The property features 2 bedrooms and 2 bathrooms, along with a bonus room and a separate workshop—ideal for additional storage, hobbies, or future improvements. With ample space for RVs, recreational toys, or even the potential to add an ADU, the possibilities are truly endless. Conveniently located near the freeway and shopping centers, this property combines space, functionality, and accessibility. Don’t miss this unique opportunity to invest, expand, or customize to your vision!

MLS IV26078185

951-776-5700 (Office) lauravazquezrealtor@gmail.com

Est. payment

$3,195/mo

Principal & interestTaxesInsurance

$2,528$521$146

Down %

Rate %

Years

Down payment: $100,000 · Total cost: $1,010,176

Mortgage vs rent

Compare estimated owner carrying cost (same loan math as above) to a gross rent estimate from a price-based multiplier (not a comp lease).

Est. carrying cost$3,195/mo

Principal & interest: $2,528
Est. property tax: $521
Est. insurance: $146
Down payment: $100,000

Est. gross rent$2,083/mo

Gross rent ≈ list price ÷ (20 × 12). Adjust the multiplier to match how you underwrite (typical investor GRM bands are often ~16–24 for SFR, market-dependent).

Rent − carrying cost (illustrative)$-1,112/mo

Down payment20%

6.5% APR, 30-year amortization — same P&I formula as the payment calculator above.

Gross rent multiple (annual)20×

Not financial advice. Mortgage uses standard amortizing P&I; taxes and insurance are rough California-style estimates (1.25% / yr tax, 0.35% / yr insurance). Rent is gross (no vacancy or management); actual market rent requires comps or a lease listing.

Price History

Event	Date	Price	Change
Listed	Apr 9, 2026	$499,999	—

Facts & Features

Structure & Property

Year Built1979

951-776-5700 (Office) lauravazquezrealtor@gmail.com

Sale & Tax History

No Recent Sales History

We didn't find any closed transactions for this property in the last 5 years.

Location

29120 Melby Drive, Lake Elsinore, CA 92532

Get Directions

Call

29120 Melby Dr Lake Elsinore, CA 92532

About this home

LAURA VAZQUEZ

Est. monthly payment

Mortgage vs rent

Price History

Facts & Features

Structure & Property

LAURA VAZQUEZ

Sale & Tax History

No Recent Sales History

Location

Location

Listing Agent

Presented by Belmont Brokerage Inc.

29120 Melby Drive, Lake Elsinore, CA 92532

About This Property

Property Photos

29120 Melby Dr Lake Elsinore, CA 92532

About this home

LAURA VAZQUEZ

Est. monthly payment

Mortgage vs rent

Price History

Facts & Features

Structure & Property

LAURA VAZQUEZ

Sale & Tax History

No Recent Sales History

Location

Location

Listing Agent

Presented by Belmont Brokerage Inc.