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323 Silvio Lane, Novato, CA 94947, Novato, 94947 - 2 bed, 1 bath

323 Silvio Lane, Novato, CA 94947 home-pic-0
ACTIVE UNDER CONTRACT$449,000$903/sqft
323 Silvio Lane, Novato, CA 94947
2Beds
1Bath
903Sqft
3,450Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Modern Interior & Updates: The unit is move-in ready with an updated kitchen, newer appliances (dishwasher, water heater, in-unit laundry), dual-pane windows, and fresh laminate flooring throughout, minimizing immediate renovation costs for a buyer.
Top Cons:
Single Bathroom: The unit features only one bathroom for two bedrooms, which may be a limiting factor for some buyers, particularly families or those desiring more personal space.

Compared to the nearby listings

Price:$449.0K vs avg $462.0K ($-13,000)50%
Size:903 sqft vs avg 1,007 sqft33%
Price/sqft:$497 vs avg $46272%

More Insights

Built in 1977 (49 years old).
Condition: Despite being built in 1977, the property has undergone significant updates, including an updated kitchen with newer appliances, fresh laminate flooring throughout, dual-pane windows, and an updated bathroom vanity. The overall condition is move-in ready with no immediate renovations required, aligning with the 'Good' criteria for properties extensively renovated within the last 5 to 15 years.
Year Built
1977
Close
-
List price
$449K
Original List price
-
Price/Sqft
$497
HOA
$465
Days on market
-
Sold On
-
MLS number
325081379
Home ConditionGood
Features
Good View:
Deck
Pool
Spa
View-

About this home

Is there a 2-bed condo in Novato under $500K with views and freeway access? Welcome to 323 Silvio Ln: a move-in ready upper-level unit with rolling hill and oak tree views. Enjoy 2 spacious bedrooms, dual-pane windows, an updated kitchen, and newer appliances including a dishwasher, water heater, and in-unit laundry. Fresh laminate flooring throughout adds style and durability. The bright open living area opens to a private balcony perfect for morning coffee. Located in the Cheda Knolls with greenbelt surroundings, HOA covers pool, spa, and exterior maintenance. Parking includes a covered carport and guest space. Investors: no rental restrictions and approx 5% cap rate potential. Conveniently near shopping, dining, and 101 freeway access. Close to Lynwood Elementary, San Jose Intermediate, and Novato High. Ideal for first-time buyers, downsizers, or investors seeking a well-positioned Novato property

P
Peter Schardt
Listing Agent

Price History

Date
Event
Price
10/14/94
Sold
$137,000
11/26/14
Sold
$310,000
Condition Rating
Good
Despite being built in 1977, the property has undergone significant updates, including an updated kitchen with newer appliances, fresh laminate flooring throughout, dual-pane windows, and an updated bathroom vanity. The overall condition is move-in ready with no immediate renovations required, aligning with the 'Good' criteria for properties extensively renovated within the last 5 to 15 years.
Pros & Cons

Pros

Modern Interior & Updates: The unit is move-in ready with an updated kitchen, newer appliances (dishwasher, water heater, in-unit laundry), dual-pane windows, and fresh laminate flooring throughout, minimizing immediate renovation costs for a buyer.
Prime Location & Accessibility: Conveniently located near shopping, dining, and 101 freeway access, making it ideal for commuters. It's also close to Lynwood Elementary, San Jose Intermediate, and Novato High, appealing to families.
Strong Investor Potential: With no rental restrictions and an approximate 5% cap rate potential, this property presents an attractive opportunity for real estate investors seeking a reliable income stream.
Community Amenities & Maintenance: The HOA covers desirable amenities such as a pool, spa, and exterior maintenance, reducing owner responsibilities and offering recreational benefits. Parking includes a covered carport and guest space.
Scenic Views & Private Balcony: The upper-level unit offers pleasant rolling hill and oak tree views, complemented by a private balcony, providing a serene outdoor space for relaxation.

Cons

Single Bathroom: The unit features only one bathroom for two bedrooms, which may be a limiting factor for some buyers, particularly families or those desiring more personal space.
High HOA Fees: The monthly association fee of $465 is a significant recurring cost that adds to the overall housing expense, potentially impacting affordability for some buyers despite the covered amenities.
Age of Building & Potential for Older Systems: Built in 1977, while the interior is updated, the underlying building structure and some core systems (e.g., plumbing, electrical outside of recent appliance upgrades) are older, which could lead to unforeseen maintenance or repair needs in the future.
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