3850 Rio Road 37, Carmel, California 93923, Carmel, 93923 - 2 bed, 3 bath
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3850 Rio Road 37
Carmel, California 93923
ACTIVE
CONDITION: FAIR
2Beds
3Baths
1,520Sq Ft
0Lot Size
Property Price
LIST PRICE$1,075,000
EST. MARKET VALUE
$1,014,646
5% AboveMARKET VALUE
SUMMARY
This Condominium represents a High-Potential Investment Opportunity, listed at $1,075,000—positioned above the $1,014,646 Fair Market Value. While the property requires updates due to its Fair Condition Rating, it offers a premium lifestyle in the Carmel Unified School District, featuring Top-Rated Schools like Carmel High (9/10). The unit boasts spectacular lake views, a private deck, and a two-car garage. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to personalize a waterfront retreat in a prime location.
Estimated Market Value
$1,014,646
Based on Realkey algorithm analyzing recent comparable sales in Carmel.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1976, this property is functional but significantly dated. The kitchen features older white appliances (including a coil-top stove) and cabinetry that appears to be over 20 years old. While the unit is clean and move-in ready, the lack of recent major renovations to the primary systems and finishes places it in the Fair category.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Carmel River Elementary School (9/10). High School: Carmel High School (9/10).
- Prime Waterfront Location
The unit occupies a premium 'front-row' position within the community, offering unobstructed, serene views of Arroyo Lake from the living areas and a private primary suite deck.
- Top-Tier School District
Located in the prestigious Carmel Unified School District, the property provides access to highly-rated institutions including Carmel River Elementary and Carmel High School, both rated 9/10.
CONSRISKS & DEFICIENCIES
- High Monthly Carrying Costs
The association fee of $710 per month is relatively high, which may impact the overall affordability and debt-to-income ratio for prospective buyers.
- Aging Infrastructure
Built in 1976, the property may require updates to major systems or interior finishes to meet modern luxury standards and ensure long-term energy efficiency.
About 3850 Rio Road 37
A Front-Row Seat to Carmel's Natural Beauty! Welcome to 3850 Rio Road, Unit #37, where tranquility meets convenience in the heart of Carmel. Perfectly positioned within the community, this inviting two-bedroom unit enjoys spectacular, front-and-center views of the picturesque Arroyo lake, creating a peaceful retreat surrounded by nature. The light-filled living room features a cozy gas fireplace, recessed lighting, and sliding glass doors framing the serene lake setting. Upstairs, two spacious bedroom suites offer comfort and privacy, including a generous suite with custom wall-to-wall closets and a private deck overlooking the water. The kitchen opens to the dining area and an enclosed patio, perfect for entertaining or enjoying Carmel's coastal climate. Additional amenities include indoor laundry, a convenient powder room, and a desirable two-car garage. Just moments from The Crossroads and The Barnyard, enjoy effortless access to shopping, dining, and the best of the Monterey Peninsula. An exceptional opportunity to embrace Carmel living.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1976
- Lot Size
- -
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $710.0 / Month
Neighborhood Insights
Carmel Unified Schools
Carmel River Elementary School
Grades K-5 • 1.2 mi
9/10
Carmel Middle School
Grades 6-8 • 0.6 mi
8/10
Carmel High School
Grades 9-12 • 1.2 mi
9/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 1.8 |
| Baths | 3.0 | 1.8 |
| Square foot | 1,520 | 1,173.727 |
| Lot Size | - | 1,650.545 |
| Price | $1.07M | $942.6K |
| Price per sq ft | $707 | $788 |
| Built year | 1976 | 1970 |
| HOA | $710.0 | $1.3K |
| Days on market | 8 | 84 |
Pricing History
Listed for Sale
Oct 16, 2026
$1,075,000
Initial Listing