317 Central Avenue, Vallejo, CA 94590, Vallejo, 94590 - 3 bed, 2 bath
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Vallejo, CA 94590
This property presents a High-Potential Investment Opportunity with a List Price of $475,000—positioned well below the $455,750 Fair Market Value by -4%. While the front home is in Good Condition, the rear 1930s bungalow requires significant renovation, creating a Dual-Structure Income Potential that allows for forced appreciation. This asset is ideal for Buy-and-Hold Investors or Owner-Occupants looking to offset mortgage costs through rental income. Strategic improvements to the rear unit will maximize the property's overall market value and long-term ROI.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 317 Central Avenue Subject | $475,000* List Price | 3 | 2 | 1,155 | $395 | - |
A 2115 georgia Street Sold | $415,000 | 3 | 2 | 928 | $447 | 0.3 mi |
B 152 12th Street Sold | $420,000 | 3 | 2 | 1,301 | $323 | 0.2 mi |
C 935 Virginia Street Sold | $532,000 | 3 | 2 | 1,258 | $423 | 0.5 mi |
D 1011 Georgia Street Sold | $470,000 | 2 | 1 | 1,195 | $393 | 0.4 mi |
E 105 Phelan Avenue Sold | $355,000 | 4 | 2 | 945 | $376 | 0.4 mi |
F 1815 Ohio Street Active | $348,999 List Price | 3 | 2 | 1,103 | $316 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property consists of two structures: a front home built in 2004 that is in good, functional condition with 20-year-old systems and finishes, and a rear 1930s bungalow that is in poor condition and requires a full renovation. The 'investor special' designation and the age of the secondary unit's kitchen and systems necessitate significant updates to maximize value.
The property features two separate dwellings on a single lot, providing a rare opportunity for rental income, multi-generational living, or an owner-user setup to offset mortgage costs.
Built in 2004 with permits, the front 3-bedroom, 2-bathroom home offers modern construction standards and a solid foundation, reducing immediate maintenance concerns for the primary living space.
The original 1930s rear bungalow serves as a blank canvas for renovation, allowing investors to build equity and maximize the property's overall market value through strategic improvements.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1155, other record living area = 659.
The rear unit is an 'investor special' that requires significant renovation and reimagining, necessitating additional upfront investment and construction management beyond the purchase price.
With two structures situated on a 3,999 square foot lot, outdoor yard space and privacy between the two units are notably constrained.
Rare opportunity in Vallejo! 317 Central Ave offers two structures on one lot, making it ideal for investors, multi-generational living, or buyers seeking rental income. The front home, built in 2004 with permits, features 3 bedrooms, 2 bathrooms, and approximately 1,162 sq ft with its own private entrance. Behind it sits the original 1930's structure/bungalow offering 2 bedrooms, 1 bath, kitchen, living space, and an attached 2-car garage. Ready for renovation or reimagining to maximize value. Live in one and rent the other, or create a strong income-producing property. Opportunities like this are hard to find. The front home is in solid condition, while the rear unit offers significant upside for the right buyer. Priced to sell and full of potential, this is a true investor special or a great fit for buyers looking for extra space, rental income, or a flexible living setup.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 1.0 | 53% |
| Square foot | 1,155 | 1,086 | 57% |
| Lot Size | 3,999 | 5,663 | 25% |
| Price | $475.0K | $420.0K | 67% |
| Price per sq ft | $411 | $358 | 67% |
| Built year | 2004 | 1938 | 98% |
| HOA | $0 | $0 | 50% |
| Days on market | 37 | 224 | 2% |
May 8, 2026
$475,000
Initial Listing
Apr 28, 2016
$255,000
Public Record
Mar 8, 2013
$75,000
Public Record