245 E 40th Avenue, San Mateo, California 94403, San Mateo, 94403 - 3 bed, 2 bath
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San Mateo, California 94403
This Modernized Peninsula Residence is a Prime Investment Opportunity, listed at $1,788,000—positioned well below the $1,859,771 Fair Market Value by 3%. This valuation gap offers $71,771 in Instant Equity. Boasting a Condition Rating of 2, the home features a brand-new kitchen with quartz waterfall countertops and an oversized 7,370 sq ft corner lot with significant ADU potential. Proximity to top-rated schools like Ralston Intermediate and Carlmont High ensures long-term desirability. This turnkey sanctuary is ideal for Owner-Occupants or lifestyle-driven buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 245 E 40th Avenue Subject | $1,788,000* List Price | 3 | 2 | 1,400 | $1,328 | - |
A 3957 Martin Drive Sold | $2,250,000 | 3 | 2 | 1,450 | $1,552 | 0.3 mi |
B 217 W 40th Avenue Sold | $1,710,000 | 3 | 2 | 1,720 | $994 | 0.7 mi |
C 3221 Llano St Sold | $2,030,000 | 4 | 2 | 1,550 | $1,310 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property has undergone a comprehensive recent renovation (under 5 years) featuring a brand-new kitchen with quartz waterfall countertops, stainless steel appliances, modern wide-plank flooring, and updated recessed lighting. Despite the 1950 build date, the interior and exterior are in mint, move-in ready condition with no visible maintenance needs.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7370, living area = 1400.
Middle School: Ralston Intermediate School (9/10). High School: Carlmont High School (9/10).
The oversized 7,370 sq ft corner lot is a rare find in this area, providing significant privacy and excellent potential for an ADU or future home expansion.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1400, other record living area = 1340.
Built in 1950, the property may have aging systems or structural elements typical of its era that could require future maintenance despite cosmetic updates.
At 1,400 sq ft for a three-bedroom home, the interior living areas may feel somewhat constrained for families accustomed to more modern, open-concept proportions.
A beautiful move-in ready home in a warm and friendly neighborhood, offering comfort, convenience, and future potential. It features 1,400 sq ft of living space on an oversized 7,370 sq ft corner lot. The inviting living room features large windows and a wood-burning fireplace, while the adjacent dining area opens to a spacious backyard. The brand-new kitchen is filled with abundant natural light, creating a bright and enjoyable space for everyday cooking. The primary bedroom faces the backyard for added privacy, while two additional well-appointed bedrooms share a full bath. A flexible room next to the kitchen provides the perfect space for a home office or guest room. The expansive front and back yards, enhanced with new landscaping and mature fruit trees, are ideal for gardening or creating a private outdoor retreat. The generous lot also offers excellent potential for an ADU or future expansion (buyer to verify). A two-car garage adds convenience and ample storage. Ideally located within close proximity to George Hall Elementary School, Casanova and Laurie Meadows Parks, the Caltrain station, Hillsdale Shopping Center, and Bay Meadows, with convenient access to Highways 101, 92, and 280, this home offers an ideal central Peninsula location. Welcome to your beautiful home!
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 1.6 mi
Grades K-5 • 2.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,400 | 1,635 | 22% |
| Lot Size | 7,370 | 5,724.5 | 84% |
| Price | $1.79M | $2.16M | 28% |
| Price per sq ft | $1.3K | $1.2K | 66% |
| Built year | 1950 | 1954 | 26% |
| HOA | $0 | $0 | 50% |
| Days on market | 6 | 134 | 2% |
Apr 16, 2026
$1,788,000
Initial Listing
Dec 15, 2015
$1,158,000
Public Record
Jun 23, 2009
$590,000
Public Record