3160 Waverley Street, Palo Alto, California 94306, Palo Alto, 94306 - 3 bed, 2 bath
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Palo Alto, California 94306
This property represents a High-Potential Investment Opportunity, listed at $3,500,000, which is priced slightly above the $3,411,107 Fair Market Value. While the home carries a Condition Rating of 5, the 7,650 SF lot provides significant development potential in a premier Midtown location. With proximity to Top-Rated Schools like Fairmeadow Elementary and Gunn High, the land value remains the primary driver for long-term appreciation. This is a strategic acquisition ideal for Buy-and-Hold Investors or Owner-Occupants planning a future custom estate.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3160 Waverley Street Subject | $3,500,000* List Price | 3 | 2 | 1,377 | $2,477 | - |
A 2971 Bryant Street Sold | $3,100,000 | 2 | 1 | 1,064 | $2,914 | 0.2 mi |
B 3057 South Court Pending | $3,195,000 List Price | 3 | 2 | 1,228 | $2,602 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1953 with no evidence of recent renovations. The kitchen features dated cabinetry, older appliances, and vinyl flooring likely exceeding 30 years in age. While the listing describes the home as functional and move-in ready, the property requires a full rehab to meet modern standards, and the marketing explicitly highlights the land value and potential for a new build.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7650, living area = 1377.
Elementary School: Fairmeadow Elementary School (9/10). Middle School: Jane Lathrop Stanford Middle School (9/10). High School: Henry M. Gunn High School (9/10).
The property is situated within walking distance of top-rated El Carmelo Elementary and Jane Lathrop Stanford Middle School, providing exceptional educational value for families.
The property was recently sold within the past year on 2025-09-11. The sold price is $3,200,000.00.
At a $3.5M list price for 1,377 SF of living space, the entry cost is steep, as the valuation is heavily weighted toward the land rather than the existing structure.
Built in 1953 and described as not 'over-renovated,' the home likely requires significant modernization or a full remodel to meet the expectations of today's luxury buyers.
Midtown Rarity: Oversized Lot & Unmatched Potential on renowned Waverley Street - Walking Distance to Top Rated El Carmelo Elementary & JLS Middle School Nestled on a quiet, tree-lined street, this 1,377 SF home offers 3 bedrooms and 2 full bathrooms, set on a 7,650 SF lot, about 85'x90' shape this property offers the ultimate trifecta of Palo Alto real estate: expansive land, premier schools, and long-term appreciation. Whether you are looking to move in today or build for tomorrow, the "bones" of this investment are rock-solid. Versatile Condition: Clean, functional, and "move-in ready." While not "over-renovated," it offers a comfortable lifestyle now while leaving plenty of "value-add" equity on the table for your personal touch. A Strategic Asset for Discerning Buyers: 1) For the Savvy Investor/Flipper: A high-margin project with clear exit potential.2) For the "Long-Game" Homeowner: Secure your entry into Palo Altos elite market. This is the perfect "forever site": live in a charming starter home now, and slowly transform it into your dream estate as your family grows. The Bottom Line: the true value lies in the land, the location, and the legacy. This home isn't just a place to live; its a strategic hold in one of the world's most exclusive neighborhoods.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.5 mi
Grades 6-8 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 47% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,377 | 1,786 | 21% |
| Lot Size | 7,650 | 7,200 | 63% |
| Price | $3.50M | $3.50M | 50% |
| Price per sq ft | $2.5K | $2.1K | 87% |
| Built year | 1953 | 1952 | 61% |
| HOA | $0 | $0 | 50% |
| Days on market | 16 | 92 | 3% |
May 21, 2026
$3,500,000
Initial Listing
Sep 11, 2025
$3,200,000
Public Record