3291 Melendy Drive, San Carlos, California 94070, San Carlos, 94070 - 5 bed, 4 bath
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3291 Melendy Drive
San Carlos, California 94070
ACTIVE
CONDITION: GOOD
5Beds
4Baths
3,344Sq Ft
9,875Lot Size
Property Price
LIST PRICE$3,750,000
EST. MARKET VALUE
$3,601,426
4% AboveMARKET VALUE
SUMMARY
This Spacious Hillside Residence represents a Strong Value Opportunity, listed at $3,250,000—positioned well below the $3,316,324 Fair Market Value by 2%. This valuation gap offers $66,324 in Instant Equity. Featuring a 3,344 sqft floor plan, panoramic Bay views, and a separate 1-bedroom ADU, the home maintains a Condition Rating of 3. It is an ideal acquisition for Owner-Occupants seeking multi-generational flexibility or Investors looking for a high-end, income-producing asset in a prime San Carlos location.
Estimated Market Value
$3,601,426
Based on Realkey algorithm analyzing recent comparable sales in San Carlos.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3291 Melendy Drive Subject 5 bd · 4 ba · 3,344 sqft · $1,077 | $3,750,000* List Price | 5 | 4 | 3,344 | $1,077 | - |
A 179 Bay View Drive Sold 3 bd · 3 ba · 3,374 sqft · $845 · 0.9 mi | $2,850,000 | 3 | 3 | 3,374 | $845 | 0.9 mi |
B 3138 La Mesa Drive Sold 4 bd · 3 ba · 2,350 sqft · $1,453 · 0.5 mi | $3,415,000 | 4 | 3 | 2,350 | $1,453 | 0.5 mi |
C 1100 Greenbrier Road Sold 4 bd · 3 ba · 2,611 sqft · $1,252 · 0.4 mi | $3,270,000 | 4 | 3 | 2,611 | $1,252 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Built in 1976, this home has been well-maintained and updated. The kitchen features stainless steel appliances and stone countertops consistent with a 10-15 year old renovation, while the bathrooms show more recent modernizations. Fresh interior and exterior paint, gleaming hardwood floors, and a functional ADU make this property move-in ready.
PROSSTRENGTHS & OPPORTUNITIES
- Exceptional Panoramic Views
The property offers some of the most stunning views on the Peninsula, encompassing the Bay, bridges, and city lights, which serves as a significant value driver and aesthetic highlight.
- Versatile Separate ADU
A fully independent 1-bedroom, 1-bath ADU with its own private balcony provides rare flexibility for multi-generational living, a high-end home office, or potential rental income.
- Seamless One-Level Living
The rare combination of a spacious 3,344 sqft floor plan and garage access all on one level offers superior accessibility and convenience that is highly sought after in hillside San Carlos.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3344, other record living area = 2580. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 4.
- Potential for Modernization
Built in 1976 and maintained by the same family for nearly 50 years, the home may require significant cosmetic or systemic updates to align with contemporary luxury standards.
- Hillside Lot Constraints
While the property offers dramatic views, the hillside topography typically limits the amount of usable flat yard space for traditional outdoor recreation compared to homes in the flats.
About 3291 Melendy Drive
The ultimate blend of one-level living and one of the greatest views on the Peninsula has just hit the market! Custom-built for the current family, this home was not just lived in... it was loved for nearly 50 years! Featuring 4 spacious bedrooms and 2 1/2 baths, along with a formal dining room, formal living room, and one of the largest kitchens you'll find, this home is perfectly appointed for a world-class chef. Top-quality materials and craftsmanship, combined with a tremendous amount of counter space, make this the perfect setting for every holiday, celebration, and gathering! Let's not forget the family room with soaring ceilings, stunning views, and a fireplace! Gleaming hardwood floors and fresh paint inside and out add to the appeal, while the home and garage are conveniently situated on the same level for easy everyday living. And now for the hidden gem a fully separate 1-bedroom, 1-bath ADU with its own private balcony and stunning views! Whether for extended family, guests, a home office, or additional flexibility, the possibilities are endless. With a separate laundry room, tremendous storage, exceptional privacy, and great San Carlos schools, you may never want to leave! Make this one-of-a-kind dream home a priority to see. $3,750,000 is a transparent price.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1976
- Lot Size
- 9,875 Sq. Ft.
Interior
- Total Bedrooms
- 5
- Total Bathrooms
- 4 (4 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 3.5 |
| Baths | 4.0 | 2.4 |
| Square foot | 3,344 | 1,969.244 |
| Lot Size | 9,875 | 6,204.537 |
| Price | $3.75M | $2.53M |
| Price per sq ft | $1.1K | $1.5K |
| Built year | 1976 | 1952 |
| HOA | $0 | $0 |
| Days on market | 37 | 31 |
Pricing History
Listed for Sale
Oct 3, 2026
$3,750,000
$3,250,000
+15% Price Increase
Initial Listing
Price Change
Sep 17, 2026
$3,250,000
Initial Listing