12 Madrid Ct, Novato, CA 94949, Novato, 94949 - 3 bed, 3 bath
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12 Madrid Ct
Novato, CA 94949
ACTIVE
CONDITION: EXCELLENT
3Beds
3Baths
1,588Sq Ft
435Lot Size
Property Price
LIST PRICE$649,000
EST. MARKET VALUE
$687,636
5% BelowMARKET VALUE
SUMMARY
This Turnkey Townhouse represents a Strong Value Opportunity, listed at $699,000—positioned well below the $722,637 Fair Market Value by 3%. This valuation gap provides $23,637 in Instant Equity for the buyer. Featuring a Mint Condition Rating with recent renovations, including a new kitchen and flooring, this home offers a lifestyle of modern comfort with stunning bay views. It is an ideal acquisition for Owner-Occupants or first-time buyers seeking a move-in-ready residence in a prime commuter location.
Estimated Market Value
$687,636+$38,636 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Novato.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
Although built in 1987, the property has undergone a comprehensive recent renovation (likely within the last 1-3 years). It features a stunning kitchen with brand-new Quartz counters and stainless steel appliances, renovated bathrooms, new flooring throughout, and fresh interior paint, meeting the criteria for mint condition with no immediate maintenance required.
PROSSTRENGTHS & OPPORTUNITIES
- Modern Interior Updates
The property features extensive recent renovations, including new Quartz countertops, stainless steel appliances, and updated flooring, offering a turnkey, move-in-ready experience.
- Prime Commuter Location
Situated in highly desirable Southern Novato, the home offers a fantastic commute location with close proximity to Pacheco Plaza, local dining, and Sonoma wine country.
- Scenic Bay Views
The inviting living room and private balcony provide beautiful bay views, adding a premium aesthetic and tranquil atmosphere to the living space.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =435, other record lot size in square feet = 1016.
- High Association Fees
The monthly HOA fee of $920 is significantly high, which may impact buyer affordability and the overall monthly carrying cost of the property.
- Limited Private Outdoor Space
With a lot size of only 435 square feet, the property lacks a traditional yard, relying solely on a balcony for private outdoor access.
About 12 Madrid Ct
New Price! This gorgeous 3-bed, 2.5-bath townhouse style condo offers 1,588 sq ft of modern comfort in a highly desirable Southern Novato location. Nestled in a quiet 30-unit community, the home features fresh interior paint, gleaming new floors, renovated baths and a stunning kitchen with brand-new Quartz counters and stainless steel appliances. The inviting living room centers around a cozy fireplace and flows directly out to a private balcony, perfect for enjoying the bay views. Residents enjoy the convenience of an attached garage and a lovely community pool. With a fantastic commute location and close proximity to Pacheco Plaza, great local restaurants, and Sonoma wine country, this beautifully updated home is a true winner. Don't miss this rare opportunity!
Property Details
Public Facts
- Property Type
- Townhouse
- Year Built
- 1987
- Lot Size
- 435 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $920 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 3.0 | 2.8 |
| Square foot | 1,588 | 1,682.6 |
| Lot Size | 435 | 1,365 |
| Price | $649.0K | $777.8K |
| Price per sq ft | $409 | $450 |
| Built year | 1987 | 1992 |
| HOA | $920 | $542 |
| Days on market | 22 | 66 |
Pricing History
Listed for Sale
Sep 4, 2026
$649,000
$699,000
-7% Price Drop
Initial Listing
Price Change
Aug 18, 2026
$699,000
Initial Listing
Sold
Jan 16, 2003
$50,000
Public Record
Sold
Jan 28, 1999
$229,500
Public Record