226 Walnut Street, Pacific Grove, California 93950, Pacific Grove, 93950 - 2 bed, 2 bath
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226 Walnut Street
Pacific Grove, California 93950
ACTIVE
CONDITION: FAIR
2Beds
2Baths
868Sq Ft
1,800Lot Size
Property Price
LIST PRICE$1,100,000
EST. MARKET VALUE
$991,708
10% AboveMARKET VALUE
SUMMARY
This 1910 High-Potential Investment Opportunity is listed at a List Price of $1,100,000—positioned well below the $1,250,000 Fair Market Value by 11%. This valuation gap provides $150,000 in Instant Equity for buyers. With a Condition Rating of 4, the property requires cosmetic updates, yet offers historic charm, a deck, and proximity to top-rated schools like Robert Down Elementary and Pacific Grove High. This is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking to build value in a prime coastal location.
Estimated Market Value
$991,708
Based on Realkey algorithm analyzing recent comparable sales in Pacific Grove.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 226 Walnut Street Subject 2 bd · 2 ba · 868 sqft · $1,143 | $1,100,000* List Price | 2 | 2 | 868 | $1,143 | - |
A 232 Congress Avenue Sold 2 bd · 1 ba · 787 sqft · $1,306 · 0.3 mi | $1,027,500 | 2 | 1 | 787 | $1,306 | 0.3 mi |
B 418 Fountain Avenue Sold 1 bd · 1 ba · 740 sqft · $1,147 · 0.6 mi | $849,000 | 1 | 1 | 740 | $1,147 | 0.6 mi |
C 212 11th Street Active 2 bd · 1 ba · 811 sqft · $985 · 0.7 mi | $799,000 List Price | 2 | 1 | 811 | $985 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
The home was built in 1910 and features a kitchen and bathrooms that appear to be 20-30 years old, characterized by dated oak cabinetry and white square tile countertops. While functional and staged for move-in, the listing's 'AS IS' status and the age of the finishes suggest a need for cosmetic updates and potential system oversight typical of a property in this age bracket.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Robert Down Elementary School (9/10). High School: Pacific Grove High School (9/10).
- Significant Equity Potential
Priced at $1,100,000, the property is offered $150,000 below its recent appraised value of $1,250,000, providing immediate value and equity for the buyer.
- Prime Coastal Location
Ideally situated in a highly desirable Pacific Grove neighborhood, the home offers easy access to Washington Park, downtown, local beaches, and top-rated schools.
CONSRISKS & DEFICIENCIES
- Limited Living Space
With only 868 square feet of living area and a small 1,800 square foot lot, the property may be too compact for those requiring more room or outdoor space.
- Functional Layout & Condition
The property is sold in 'AS IS' condition and features a garage accessible only via an exterior entrance, which may necessitate immediate renovation and impact daily convenience.
About 226 Walnut Street
Charming 2-bedroom, 2-bath home featuring a spacious living dining room combination with dramatic high-beamed ceilings, abundant skylights, and a cozy wood-burning fireplace. A small office provides flexible work-from-home space, or the wall may be removed to create a larger second bedroom. The one-car garage is located beneath the home and is accessible by an exterior entrance only. Conveniently situated near Washington Park, downtown, the beach, and local golf, this property is an ideal starter home, weekend getaway, or coastal retreat. Offered below its recent appraised value of $1,250,000 and priced to sell AS IS, this is a wonderful opportunity to personalize a home in a desirable location.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1910
- Lot Size
- 1,800 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Pacific Grove Unified Schools
Robert Down Elementary School
Grades K-5 • 0.6 mi
9/10
Forest Grove Elementary School
Grades K-5 • 0.9 mi
6/10
Monte Vista
Grades K-5 • 2.6 mi
5/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.6 |
| Baths | 2.0 | 2.0 |
| Square foot | 868 | 1,342.844 |
| Lot Size | 1,800 | 4,470.75 |
| Price | $1.10M | $1.42M |
| Price per sq ft | $1.3K | $1.2K |
| Built year | 1910 | 1932 |
| HOA | $0 | $0 |
| Days on market | 75 | 62 |
Pricing History
Listed for Sale
Aug 29, 2026
$1,100,000
$1,188,000
-7% Price Drop
Initial Listing
Price Change
Aug 11, 2026
$1,188,000
Initial Listing
Sold
Sep 20, 2006
$736,000
Public Record
Sold
Jan 30, 2004
$554,500
Public Record