SUMMARY

Analysis of 2229 "p" Street, Merced, California 95340 reveals a Prime Investment Opportunity with a current list price of $285,000—significantly undercutting the $304,532 Fair Market Value by 6%. This valuation gap indicates a +$19,532 Instant Equity potential for buyers. 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 Merced 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.

Estimated Market Value

$304,532 +$19,532 Equity Potential

Based on Realkey algorithm analyzing recent comparable sales in Merced.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address	Sold Price	Beds	Baths	Sq Ft	$/Sqft	Distance
★ 2229 "p" Street Subject	$285,000* List Price	3	2	1,177	$259	-
A 2331 R Street Sold	$259,000	3	1	1,040	$249	0.2 mi
B 14 W 28th Street Sold	$310,000	2	2	1,002	$309	0.9 mi
C 828 W 23rd Street Active	$340,000 List Price	3	2	1,146	$297	0.1 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Good

TeardownExcellent

Property is move-in ready.

Although built in 1940, the property is move-in ready and has undergone significant recent capital improvements, including a new roof (2021), new double-pane windows (2025), and the installation of central heating and air. The interior features updated laminate and tile flooring throughout, and while the kitchen and bathrooms maintain a more traditional style with tile counters and pedestal sinks, they are well-maintained and functional.

PROSSTRENGTHS & OPPORTUNITIES

Significant Recent Upgrades
The property features a new roof installed in 2021 and new double-pane windows from 2025, significantly reducing immediate capital expenditure for the new owner.
Versatile Detached Garage
The oversized 584 SF two-car garage offers substantial space for a workshop or additional storage, which is a premium feature for a lot of this size.
Modernized Comforts
Despite its 1940s character, the home is equipped with essential modern amenities including central air/heat and updated laminate and tile flooring throughout.

CONSRISKS & DEFICIENCIES

Compact Living Proportions
At 1,177 square feet for a three-bedroom configuration, the interior living areas and bedrooms may feel somewhat constrained for larger families.
Showing Accessibility
The requirement for a 24-hour notice to view the property may limit accessibility for spontaneous buyers and potentially extend the time on market.

About 2229 "p" Street

CHARMING OLDER HOME located in established neighborhood is ready for a new owner. This 3 bedroom, 2 bath home reeks of sweetness and includes nearly 1200 SF of living space. Both bathrooms have pedestal sinks and tile floors. Shower over tub in guest bath. Walk in shower in Master. Functional kitchen with gas stove, microwave, tile counters, nice wood cabinetry and adjoining separate area allowing space for a decent size dining table. Living room has a large Bay Window. The 5,000 SF lot includes a (584 SF) TWO CAR GARAGE with enough room to use as a workshop. Nice sized Front and Back yards. Built in 1940 this home can't help but have character though it has been modernized with a new roof (2021) and new DBL pane windows (2025) as well as Central Air/Heat and Laminate and Tile Flooring throughout. Property is perimeter fenced to keep your little one's or doggy's safe. Home is in good condition and well cared for. Warm and inviting would be a good description. Lead remediation has been complete (See Supplements). PLEASE ALLOW 24 HOUR NOTICE TO VIEW.

Property Details

Public Facts

Property Type: Single Family Residence
Year Built: 1940
Lot Size: 5,000 Sq. Ft.

Interior

Total Bedrooms: 3
Total Bathrooms: 2 (2 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee: $0 / Month

Neighborhood Insights

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

Feature	Subject	Average Home	Neighborhood Ranking (50 Listings)
Beds	3.0	3.0	50%
Baths	2.0	2.0	50%
Square foot	1,177	1,551	19%
Lot Size	5,000	7,500	5%
Price	$285.0K	$360.0K	13%
Price per sq ft	$242	$244	49%
Built year	1940	1965	13%
HOA	$0	$0	50%
Days on market	38	171	5%

Pricing History

Listed for Sale

Jan 28, 2026

$285,000

Initial Listing

Sold

Jan 28, 2010

$50,000

Public Record

2229 "p" Street, Merced, California 95340, Merced, 95340 - 3 bed, 2 bath

2229 "p" Street

Property Price