121 Novel, Irvine, California 92618, Irvine, 92618 - 4 bed, 3 bath
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121 Novel
Irvine, California 92618
ACTIVE
CONDITION: EXCELLENT
4Beds
3Baths
2,021Sq Ft
29,020Lot Size
Property Price
LIST PRICE$1,428,000
EST. MARKET VALUE
$1,522,103
6% BelowMARKET VALUE
SUMMARY
This Turnkey Single Family Residence represents a Strong Value Opportunity, listed at $1,428,000—positioned well below the $1,550,836 Fair Market Value by 7%. This valuation gap offers $122,836 in Instant Equity for the buyer. Featuring a Condition Rating of 2, this 2019-built home includes a versatile downstairs bedroom and access to elite Irvine Unified School District schools. With resort-style Great Park amenities and modern finishes, this property is an ideal acquisition for Owner-Occupants or discerning families seeking a premium, move-in ready lifestyle.
Estimated Market Value
$1,522,103+$94,103 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Irvine.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 121 Novel Subject | $1,428,000* List Price | 4 | 3 | 2,021 | $753 | - |
A 41 Serenity Sold | $1,360,000 | 3 | 3 | 1,735 | $784 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
Built in 2019, this property is well under the 10-year age threshold for excellent condition. The interior features a modern kitchen with white shaker cabinetry and stone countertops, contemporary bathrooms with clean subway tiling, and high-quality flooring throughout. As a newer construction in turnkey condition, all major systems (HVAC, Electric) are modern and require no maintenance.
PROSSTRENGTHS & OPPORTUNITIES
- 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 = 29020, living area = 2021.
- Great Schools
Elementary School: Portola Springs Elementary (9/10). Middle School: Jeffrey Trail Middle (9/10). High School: Northwood High School (9/10).
- Prime Location & Amenities
Situated in the prestigious Great Park Neighborhoods, this property offers access to world-class resort-style pools, clubhouses, and parks with a competitive HOA fee of only $240.
CONSRISKS & DEFICIENCIES
- High-Density Environment
Located in the Novel Park subdivision, the property is part of a high-density development where homes are closely spaced, which may limit outdoor privacy and yard utility.
- Total Tax Burden
Properties in the Great Park area are typically subject to significant Mello-Roos assessments, which can substantially increase the total monthly carrying cost beyond the base mortgage and HOA.
About 121 Novel
Welcome to 121 Novel, a move-in ready residence in turnkey condition located within the highly desirable Great Park Neighborhoods and award-winning Irvine Unified School District. Featuring soaring ceilings, abundant natural light, and a thoughtfully designed floor plan, this home offers the perfect blend of style, comfort, and functionality. The well-appointed layout includes a highly sought-after downstairs bedroom and full bathroom, ideal for guests, multigenerational living, or a home office. Spacious living and dining areas flow seamlessly into the modern kitchen, creating an inviting space for both everyday living and entertaining. Residents enjoy access to the exceptional Great Park amenities, including resort-style pools and spas, clubhouses, parks, playgrounds, sports courts, walking trails, and community events. With a low HOA of just $240 per month, this home offers outstanding value in one of Irvine's premier master-planned communities. Conveniently located near top-rated schools, shopping, dining, the Great Park Sports Complex, and Irvine Spectrum, this turnkey home is ready for its next owner to move right in and enjoy.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 2019
- Lot Size
- 29,020 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $240.0 / Month
Neighborhood Insights
Irvine Unified Schools
Portola Springs Elementary
Grades K-6 • 1.7 mi
9/10
Cypress Village Elementary
Grades K-6 • 3.2 mi
7/10
Rancho Canada Elementary School
Grades K-6 • 4.1 mi
7/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 3.0 | 3.0 |
| Square foot | 2,021 | 2,517 |
| Lot Size | 29,020 | 4,991 |
| Price | $1.43M | $2.12M |
| Price per sq ft | $707 | $868 |
| Built year | 2019 | 1999 |
| HOA | $240.0 | $193 |
| Days on market | 47 | 53 |
Pricing History
Listed for Sale
Jul 24, 2026
$1,428,000
Initial Listing