166 Pelican Lane, Novato, CA 94949, Novato, 94949 - 4 bed, 3 bath
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Novato, CA 94949
This Rare Spacious Hilltop Condominium is a High-Potential Investment Opportunity, listed at $895,000—positioned well below the $1,055,371 Fair Market Value by 15%. This significant valuation gap offers $160,371 in Instant Equity. The residence boasts a Modernized Condition Rating with an updated quartz kitchen, hardwood flooring, and serene nature preserve views. Located near Loma Verde Elementary with direct trail access, this property perfectly blends lifestyle luxury with a strong financial position. It is an ideal match for Owner-Occupants or Value-Seeking Buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 166 Pelican Lane Subject | $895,000* List Price | 4 | 3 | 2,046 | $516 | - |
A 113 Quail Court Sold | $649,000 | 2 | 2 | 1,273 | $510 | 0.1 mi |
B 178 Pelican Lane Active | $737,000 List Price | 2 | 3 | 1,674 | $440 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property has undergone extensive recent renovations that bring it up to modern standards. The kitchen is fully updated with quartz countertops, white shaker cabinetry, subway tile backsplash, and contemporary stainless steel appliances. The bathrooms have been modernized with new vanities and fixtures. High-quality hardwood and laminate flooring are present throughout the home, complemented by updated recessed lighting and clean, modern paint. While the structure dates to 1990, the interior condition and finishes are virtually new and move-in ready with no visible deferred maintenance.
At 2,046 square feet, this is one of only three units of this size in the HOA, offering a rare 4-bedroom floor plan that includes a flexible main-level room and an office nook.
The property is nestled against the Pacheco Valle Preserve, providing direct access to hiking and biking trails and featuring multiple private decks with serene, tree-lined views.
The home features a stylishly updated kitchen with quartz countertops and mahogany floating shelves, complemented by updated bathrooms and hardwood flooring throughout.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
The monthly HOA fee of $894 is relatively high, which may deter budget-conscious buyers and significantly increases the overall monthly carrying cost of the property.
With the primary suite and additional bedrooms located on the lower level, the multi-story layout may be a drawback for buyers seeking single-level living or improved accessibility.
Nestled in a park-like setting, this exclusive 4-bedroom, 2.5-bath end unit hilltop condominium embraces the natural beauty of the Pacheco Valle Preserve. Spanning 2,046 square feet one of only three units of this size in the HOA this spacious home features hardwood and laminate floors throughout, an updated kitchen with quartz countertops, mahogany floating shelves, and built-in pantry storage, along with updated baths, in-unit laundry, and generous storage throughout. The living and dining room opens to a peaceful deck where you can relax privately among the trees, staying cool even on the hottest summer days. The primary suite and two additional bedrooms and bathrooms are situated together on the lower level, each with their own deck. The main level offers a flexible 4th bedroom, an office nook, and an attached one-car garage with two additional parking spaces. Outdoor living is at its finest here with direct access to hiking and biking trails, a network of paved walkways with pet waste stations perfect for strollers and pet lovers alike plus a community pool, spa, and children's playground. Highway 101, shopping, excellent schools, and the SMART train are just moments away.
No exterior & parking available.
Grades K-5 • 1.5 mi
Grades 9-12 • 3.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 2.0 | 85% |
| Baths | 3.0 | 2.0 | 80% |
| Square foot | 2,046 | 1,084 | 95% |
| Lot Size | 1,960 | 893 | 95% |
| Price | $895.0K | $482.5K | 95% |
| Price per sq ft | $437 | $486 | 45% |
| Built year | 1990 | 1986 | 70% |
| HOA | $894 | $597 | 95% |
| Days on market | 34 | 213 | 5% |
Mar 19, 2026
$895,000
Initial Listing
Jun 14, 2021
$885,000
Public Record
Sep 30, 2014
$500,000
Public Record
Mar 22, 2000
$345,000
Public Record