247 S 5th St, Richmond, California 94804, Richmond, 94804 - 3 bed, 2 bath
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Richmond, California 94804
This property presents a High-Potential Investment Opportunity with a List Price of $430,000—positioned well below the $441,174 Fair Market Value by 2%. This valuation gap offers $11,174 in Instant Equity for buyers. With a Condition Rating of 5, the home requires significant renovation, including restoring the fourth bedroom. The 5,650-square-foot lot provides substantial upside for expansion. This is a strategic acquisition ideal for Fix-and-Flip Investors or Contractors seeking a value-add project in Richmond.
Property is extensive renovation needed.
Built in 1922, this century-old home requires significant updating and 'imagination' to reach its potential. The description of removed walls and the visible unfinished stucco/deferred maintenance on the exterior indicate a need for a full rehab rather than minor repairs.
Priced competitively at $430,000, this property offers significant upside for investors or handy homeowners to build equity through renovations and modernization.
The 5,650-square-foot lot provides a generous yard, offering rare outdoor space for the area that is ideal for landscaping, entertaining, or potential ADU development.
The current configuration allows for easy restoration of a fourth bedroom, providing the flexibility to increase the home's utility and market value based on the buyer's needs.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 4.
The property is noted to require substantial updates to reach its full potential, implying immediate capital expenditure and renovation effort are necessary.
The assigned public schools have low ratings ranging from 1 to 3, which may be a drawback for families prioritizing education and could affect long-term appreciation.
A new opportunity with a lot of potential! Bring your imagination to view this property, as the home requires some updating to reach its full potential. The walls for the fourth bedroom have been removed; however, they can be replaced to restore the original layout. One of the standout features of this home is the large yard, which offers plenty of space for outdoor improvements.
No exterior & parking available.
Grades K-6 • 0.3 mi
Grades 7-8 • 1.6 mi
Grades 9-12 • 2.0 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 | 1,340 | 1,183 | 58% |
| Lot Size | 5,650 | 4,899 | 93% |
| Price | $430.0K | $634.0K | 15% |
| Price per sq ft | $321 | $492 | 4% |
| Built year | 1922 | 1944 | 8% |
| HOA | $0 | $0 | 50% |
| Days on market | 14 | 132 | 1% |
May 23, 2026
$430,000
Initial Listing