18 Margarita Terrace, Novato, CA 94947, Novato, 94947 - 2 bed, 2 bath
18 Margarita Terrace
Novato, CA 94947
Property Price
SUMMARY
Analysis of 18 Margarita Terrace, Novato, CA 94947 is currently available with a list price of $510,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Novato Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
The property is move-in ready and features several recent updates including newly installed carpeting and fresh interior paint throughout. While the building dates back to 1979, the unit has been well-maintained with updated bathrooms and a clean, functional kitchen. The interior shows minimal wear and tear, and the property benefits from its top-floor corner position and well-kept common amenities, meeting the criteria for a 'Good' condition rating.
PROSSTRENGTHS & OPPORTUNITIES
- Exceptional Privacy
As a top-floor corner unit with no shared walls or immediate neighbors, this property offers a rare level of peace and seclusion for condominium living.
- Scenic Mountain Views
The unit features a private deck with expansive mountain views, providing a serene outdoor space for enjoying sunrises and sunsets in a prime Novato location.
- Turnkey Condition
The home is move-in ready with fresh interior paint, newly installed carpeting, and updated bathrooms, complemented by resort-style HOA amenities including a pool and tennis courts.
CONSRISKS & DEFICIENCIES
- High Monthly HOA Fees
The association fee of $691 per month is relatively high and may impact the overall monthly affordability for budget-conscious buyers.
- Low Elementary School Rating
The property is zoned for Lynwood Elementary School, which has a low rating of 2/10, potentially deterring families who prioritize high-performing school districts.
About 18 Margarita Terrace
Price Reduced. Best price in Marin for a Stunning View Two Bed, Two Bath Condo in Prime Novato Location! Live the Novato lifestyle in this top-floor corner unit with no shared walls and no immediate neighbors, peace, privacy, and views included! Located near the Vintage Shopping Center with quick freeway access for an easy commute, this condo checks all the boxes. Freshly painted with newly installed carpeting, tasteful updates, and an extra storage unit, it's truly move-in ready. Large, sunny primary bedroom with walk-in closet and primary bath. Updated hallway bath and bright 2nd bedroom. One car reserved carport parking plus plenty of guest parking. Enjoy elevator access, a private deck ideal for sunrises and sunsets, and expansive views. The HOA delivers resort-style living with a pool, hot tub, and tennis courts. Location, lifestyle, and low-maintenance living all in one incredible package!
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1979
- Lot Size
- 1,119 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $691 / Month
Neighborhood Insights
Novato Unified Schools
Lynwood Elementary School
Grades K-5 • 0.4 mi
Novato High School
Grades 9-12 • 0.9 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,119 | 1,118 | 62% |
| Lot Size | 1,119 | 1,542 | 43% |
| Price | $510.0K | $475.0K | 52% |
| Price per sq ft | $456 | $454 | 52% |
| Built year | 1979 | 1977 | 67% |
| HOA | $691 | $555 | 90% |
| Days on market | 36 | 172 | 5% |
Pricing History
Listed for Sale
Feb 26, 2026
$510,000
$515,000
-1% Price Drop
Initial Listing
Price Change
Jan 30, 2026
$515,000
Initial Listing