
Colfax, CA 95713
This High-Potential Investment Opportunity is listed at $415,000—positioned well below the $473,788 Fair Market Value by 12%. This valuation gap offers $58,788 in Instant Equity. Featuring a Condition Rating of 2, the property includes a primary 2bd/1ba residence and a separate 432 SF studio, providing excellent income-generation potential. With modern updates like cement countertops and wood-grained tile, this asset is ideal for Buy-and-Hold Investors or first-time buyers looking to offset mortgage costs through rental income.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 214 N Main Street Subject | $415,000* List Price | 2 | 1 | 1,550 | $306 | - |
A 320 Pleasant Street Sold | $350,000 | 2 | 1 | 1,080 | $324 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1950, the property has undergone an extensive recent remodel (likely <5 years) featuring a modern kitchen with cement countertops and farmhouse sink, updated bathrooms, and new flooring throughout (wood-look tile and LVP). The interior finishes, including recessed lighting and smooth-texture walls, indicate a comprehensive update to systems and aesthetics, making it move-in ready with no immediate maintenance required.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7048, living area = 1550.
The property features a primary residence plus a separate 432 SF studio apartment above the garage, offering excellent opportunities for house-hacking, multi-generational living, or dual rental income.
The main home boasts high-quality updates including cement countertops, a stainless farmhouse sink, and designer wood-grained tile flooring, providing a contemporary and move-in-ready aesthetic.
The primary 1,118 SF residence contains only one bathroom, which may be a constraint for families or when hosting guests compared to more modern layouts.
The listing notes the property requires 'a little more polish' to reach its full potential, suggesting that some minor cosmetic or functional projects may still be required by the new owner.
Extensively updated and remodeled home! Check out this amazing combined home and investment opportunity wrapped up into one affordable package right in downtown Colfax with close proximity to Rollins lake, the Bear and American rivers, and less than an hour to snow skiing. First-time home buyer? This is for you. Pick which unit you want to live in and rent the other unit(s) to help cover your payment. Investor? This is the perfect place for multiple income sources in one. The 1,118 SF 2bd/1ba primary home includes an office, updated bath, inside laundry area, pantry/storage area, and a beautifully redone kitchen with cement counter tops, quality appliances, recessed lighting, and a gorgeous stainless steel farmhouse style sink. The family room is light and bright with east and south facing windows to bring in the light. The flooring is a classy wood grained tile throughout the main areas and luxury vinyl plank in the bedrooms. The walls feature attractive imperfect smooth texture to complement the modern updated feel. One bedroom features a walk-in closet and the other has a wide closet with nice mirrored sliding doors. Between the kitchen and the back door is an inside laundry area and adjacent storage/pantry. The large yard features gardening boxes and lots of room for more gardening or other outdoor enjoyment. At the back of the lot, with alley way access, there is a garage with a 432 SF studio apartment above, with it's own staircase access. In the garage there is a full bathroom and a separate sink and counter area. The apartment above features a full bath, separate sink and counter area, cabinets, and a loft above with fixed stairs for easy access. Whether you are looking for a great place to live, an investment property, or both, you will want to come see this place for yourself. It's definitely a gem, and with a little more polish, it could be your diamond!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 36% |
| Baths | 1.0 | 2.0 | 32% |
| Square foot | 1,550 | 1,651 | 46% |
| Lot Size | 7,048 | 50,094 | 21% |
| Price | $415.0K | $499.5K | 46% |
| Price per sq ft | $268 | $281 | 39% |
| Built year | 1950 | 1962 | 36% |
| HOA | $0 | $0 | 50% |
| Days on market | 30 | 212 | 4% |
May 7, 2026
$415,000
Initial Listing
Aug 2, 2013
$118,000
Public Record
Sep 8, 2000
$114,500
Public Record