178 Pelican Lane, Novato, CA 94949, Novato, 94949 - 2 bed, 3 bath
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Novato, CA 94949
This Top-Floor Condominium with Loft is a Strong Value Opportunity, listed at $737,000—positioned well below the $795,100 Fair Market Value by 7%. This valuation gap provides $58,100 in Instant Equity. Boasting a High-Quality Condition Rating, the home features cathedral ceilings, wooded views, and extensive recent upgrades including new carpet, paint, and heating. Located near Loma Verde Elementary, residents enjoy a community pool and Pacheco Valley trails. This is an ideal acquisition for Owner-Occupants seeking a turnkey sanctuary or Buy-and-Hold Investors looking for a stable asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 178 Pelican Lane Subject | $737,000* List Price | 2 | 3 | 1,674 | $475 | - |
A 113 Quail Court Sold | $649,000 | 2 | 2 | 1,273 | $510 | 0.1 mi |
B 154 Sandpiper Court Sold | $580,000 | 2 | 2 | 1,057 | $549 | 0.1 mi |
C 121 Quail Court Sold | $615,000 | 2 | 2 | 1,088 | $565 | 0.1 mi |
D 4 Cielo Lane 3E Sold | $559,000 | 2 | 2 | 1,160 | $482 | 1.0 mi |
E 230 Pelican Lane Active | $639,000 List Price | 3 | 3 | 1,731 | $369 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and benefits from significant recent updates including new carpet, fresh paint, and a new heating system. The kitchen features modern stainless steel appliances and stone countertops, while the bathrooms show updated vanities and fixtures. Although the structure dates to 1989, the interior is well-maintained with minimal wear and tear, meeting the criteria for a high-quality, functional home.
The property features significant recent improvements including new carpet, paint, heating, and decking, offering a move-in-ready experience and reducing immediate maintenance costs for the buyer.
As a top-floor unit with cathedral ceilings and an additional loft space, the home provides a spacious, airy atmosphere that maximizes natural light and functional living area.
Located in the bucolic Pacheco Valley, the residence offers relaxing wooded views and direct access to community amenities and extensive hiking and biking trails.
The monthly HOA fee of $814 is relatively high, which significantly impacts a buyer's monthly carrying costs and overall purchasing power.
The assigned public schools carry average ratings (5 and 6 out of 10), which may be a drawback for families specifically seeking top-tier educational districts.
Peaceful, inviting top floor with cathedral ceiling living room and dining area. 2BR + loft 2.5BA with relaxing wooded views. Many upgrades. new carpet, new paint, new heating, new decking and new entrance walkway. Gas fireplace in living room. Sliding glass doors to cozy deck. Direct entrance from single car garage to main floor LR, Kitchen, DR area, half bath, laundry. Extra storage below. Shared community pool and playground. Hiking & biking trails throughout bucolic Pacheco Valley,
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 | 2.0 | 2.0 | 50% |
| Baths | 3.0 | 2.0 | 80% |
| Square foot | 1,674 | 1,084 | 85% |
| Lot Size | 1,699 | 893 | 95% |
| Price | $737.0K | $482.5K | 90% |
| Price per sq ft | $440 | $486 | 45% |
| Built year | 1989 | 1986 | 70% |
| HOA | $814 | $597 | 90% |
| Days on market | 34 | 213 | 5% |
Mar 19, 2026
$737,000
Initial Listing
Jun 27, 2002
$472,500
Public Record