161 Melrose Avenue, San Jose, California 95116, San Jose, 95116 - 3 bed, 1 bath
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San Jose, California 95116
This Single Family Residence represents a Strong Value Opportunity, listed at $975,000—positioned well below the $994,227 Fair Market Value by 1.9%. This valuation gap offers $19,227 in Instant Equity. Featuring a Condition Rating of 3, the home includes on-grid solar power and a 2-car detached garage with ADU potential. Located in the San Jose Unified school district, this property balances immediate utility with long-term appreciation. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a value-add property.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 161 Melrose Avenue Subject | $975,000* List Price | 3 | 1 | 1,168 | $851 | - |
A 125 Magellan Avenue Sold | $860,000 | 2 | 1 | 993 | $866 | 0.1 mi |
B 199 S 23rd Street Sold | $1,200,000 | 4 | 2 | 1,220 | $984 | 1.0 mi |
C 1825 Wilshire Boulevard Active | $1,099,888 List Price | 3 | 1 | 1,139 | $966 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1950, the home is well-maintained and move-in ready. The bathroom has been recently renovated with modern tiling and a glass walk-in shower. The kitchen is functional but dated with older tile countertops and oak cabinetry. While the heating system relies on a dated wall furnace, the addition of on-grid solar power and updated vinyl flooring throughout the living areas elevates the overall condition.
The property is equipped with an on-grid solar power system, offering the homeowner significant long-term savings on utility costs and enhancing the home's energy efficiency.
The 2-car detached garage provides a versatile space that could be utilized for secure parking, additional storage, or potentially converted into an Accessory Dwelling Unit (ADU) to increase property value.
A kitchen skylight and a character-rich bay window in the family room ensure the living spaces are bright and welcoming, creating a more spacious feel within the 1,168 sq ft layout.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
With three bedrooms but only one bathroom, the home's configuration may be a significant drawback for growing families or buyers seeking modern convenience.
The reliance on a wall furnace for heating and the lack of a central cooling system may necessitate additional investment in HVAC upgrades to meet contemporary comfort standards.
Located in San Jose, this 3-bedroom, 1-bathroom home offers 1,168 sq ft of living space on a 5,250 sq ft lot. The kitchen features tile countertops, a gas oven range, hood over range, garbage disposal, and a skylight, providing natural light. Tile flooring in kitchen; vinyl/linoleum flooring throughout remainder. The living room includes a fireplace, and heating is provided by a wall furnace. A ceiling fan helps with cooling. The separate family room includes a dining area, and a bay window adds character. There is a 2-car detached garage, and the home is equipped with on-grid solar power. This property is located within the San Jose Unified elementary school district.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 1.0 | 2.0 | 18% |
| Square foot | 1,168 | 1,231 | 45% |
| Lot Size | 5,250 | 4,903.5 | 64% |
| Price | $975.0K | $963.5K | 55% |
| Price per sq ft | $835 | $822 | 55% |
| Built year | 1950 | 1959 | 27% |
| HOA | $0 | $0 | 50% |
| Days on market | 87 | 125 | 23% |
May 14, 2026
$975,000
Initial Listing
Mar 18, 2026
$892,762
Initial Listing