
Mill Valley, CA 94941
Analysis of 116 Cascade Drive, Mill Valley, CA 94941 is currently available with a list price of $5,495,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Mill Valley Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Built in 1981, the property is exceptionally well-maintained but reflects a dated aesthetic consistent with a 20+ year old renovation. While the kitchen features high-end stainless appliances, the floral wallpaper, cabinetry style, and heavy wood finishes are dated and likely require cosmetic updates to meet modern luxury standards.
Elementary School: Tamalpais Valley Elementary School (9/10). Middle School: Mill Valley Middle School (9/10).
The property features a substantial 4,661 sqft main residence plus a detached 2-bedroom guest house with its own garage, offering rare flexibility for guests, staff, or multi-generational living.
Situated in the coveted flats, this home offers a rare blend of redwood serenity and immediate proximity to downtown Mill Valley, with top-rated Old Mill Elementary just 0.15 miles away.
The secluded redwood setting and proximity to a year-round creek can lead to higher maintenance requirements regarding moisture control, debris, and limited direct sunlight.
Built in 1981, the property may require updates to core systems or aesthetic finishes to fully meet the expectations of modern luxury buyers at the $5.5M price point.
Set beneath the redwoods, this estate-like property evokes the character of a secluded retreat while being only moments from downtown Mill Valley. The main home offers 3 bedrooms and 4.5 baths, thoughtfully designed for both gathering and quiet escape. Inviting living spaces include a warm two-level library, a media room, and an art studio. The chef's kitchen with built-in dining nook flows into the dining room and a cozy living room with a wood-burning fireplace and French doors opening to the front terrace. The primary suite feels like a sanctuary, complete with two walk-in closets and a window seat overlooking the trees. A second ensuite bedroom is located upstairs, with a third ensuite conveniently on the main level. The property also includes a charming 2-bedroom, 1-bath guest house ideal for visitors or extended family with its own garage, in addition to a 2-car garage for the main home. Nestled in the coveted flats of Cascade Canyon, the setting is as special as the home itself. Old Mill Park, Cascade Falls, Three Pools, and the iconic Dipsea Stairs are all nearby, along with a year-round creek that winds along Cascade Drive with gentle paths to explore. Top schools, world-class hiking and biking trails, and the vibrant shops and restaurants of downtown Mill Valley are all within easy reach. It's a rare place where you can feel both tucked away and fully connected.
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades PK-5 • 0.8 mi
Grades K-5 • 1.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 5.0 | 3.0 | 89% |
| Square foot | 4,661 | 2,227.5 | 96% |
| Lot Size | 17,681 | 9,173.5 | 84% |
| Price | $5.50M | $2.00M | 94% |
| Price per sq ft | $1.2K | $992 | 71% |
| Built year | 1981 | 1958 | 86% |
| HOA | $0 | $0 | 50% |
| Days on market | 5 | 188 | 1% |
Apr 17, 2026
$5,495,000
Initial Listing