390 Panay, Morro Bay, California 93442, Morro Bay, 93442 - 3 bed, 2 bath
390 Panay
Morro Bay, California 93442
Property Price
SUMMARY
Analysis of 390 Panay, Morro Bay, California 93442 reveals a Prime Investment Opportunity with a current list price of $859,000—significantly undercutting the $892,254 Fair Market Value by 3%. This valuation gap indicates a +$33,254 Instant Equity potential for buyers. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Morro Bay Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 390 Panay Subject | $859,000* List Price | 3 | 2 | 1,584 | $563 | - |
A 449 Panay Sold | $839,000 | 3 | 3 | 1,240 | $677 | 0.1 mi |
B 2637 Laurel Avenue Sold | $970,000 | 3 | 3 | 1,600 | $606 | 1.0 mi |
C 2695 Hemlock Avenue Sold | $905,000 | 3 | 3 | 1,477 | $613 | 0.9 mi |
D 410 Island Street Active Under Contract | $965,000 List Price | 3 | 3 | 1,825 | $529 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is new construction or fully renovated.
Although built in 1970, the property has undergone extensive recent renovations, featuring a high-end remodeled kitchen with Quartzite countertops, custom cabinetry, and stainless steel appliances. The interior is in immaculate condition with newer luxury vinyl flooring, fresh carpeting, and a converted attic, meeting the standards for a fully renovated home.
PROSSTRENGTHS & OPPORTUNITIES
- Modernized Kitchen & Interior
The home features a high-end remodeled kitchen with Quartzite countertops and custom cabinetry, complemented by newer luxury vinyl flooring and fresh carpeting throughout.
- Coastal Views & Location
The property offers desirable ocean and hillside views and is ideally situated just minutes from the beach, downtown Morro Bay, and Cayucos.
- Enhanced Living Space
A converted attic provides valuable additional interior square footage, offering more functional space than a standard 1970s layout.
CONSRISKS & DEFICIENCIES
- Limited Lot Size
With a lot size of only 2,400 square feet, the outdoor space is quite compact, which may limit gardening or expansion opportunities.
- Potential Highway Noise
The property's proximity to Highway 1 provides convenient access but may result in audible traffic noise that could affect the serenity of the coastal retreat.
About 390 Panay
North Morro Bay Sanctuary: Ocean Views & Modern Comfort! Welcome to your private coastal retreat in North Morro Bay. This immaculate 3-bedroom, 2-bathroom home captures the relaxed Central Coast lifestyle, offering ocean and hillside views just minutes from the beach. Inside, you'll find a beautifully remodeled kitchen complete with Quartzite countertops, custom cabinetry, and stainless steel appliances. Newer luxury vinyl flooring and fresh carpeting run throughout the living spaces, and the attic has been converted to provide additional interior space. Ideally situated for peace and quiet, the property sits back from the road to provide a serene setting while maintaining quick access to Highway 1. Spend your evenings unwinding with sunsets that paint the sky or enjoying the cool coastal fog. The low-maintenance yard is designed for ease, leaving you plenty of time to explore Morro Bay’s dog beach, downtown, and nearby Cayucos. Whether you’re looking for a weekend getaway or a permanent seaside sanctuary, this home offers the best of coastal living in a truly tranquil package.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1970
- Lot Size
- 2,400 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Morro Bay Unified Schools
Del Mar Elementary School
Grades K-5 • 0.5 mi
Los Osos Middle School
Grades 6-8 • 5.8 mi
Morro Bay High School
Grades 9-12 • 1.6 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,584 | 1,484 | 58% |
| Lot Size | 2,400 | 4,000 | 26% |
| Price | $859.0K | $965.0K | 39% |
| Price per sq ft | $542 | $714 | 21% |
| Built year | 1970 | 1972 | 46% |
| HOA | $0 | $0 | 50% |
| Days on market | 3 | 164 | 2% |
Pricing History
Listed for Sale
Mar 4, 2026
$859,000
Initial Listing
Sold
Mar 24, 1998
$169,000
Public Record