4241 Mariposa Drive, SANTA BARBARA, CA 93110, SANTA BARBARA, 93110 - 4 bed, 5 bath
4241 Mariposa Drive
SANTA BARBARA, CA 93110
Property Price
SUMMARY
Analysis of 4241 Mariposa Drive, SANTA BARBARA, CA 93110 reveals a property with a current list price of $8,900,000, which is 6% above the estimated $8,366,667 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the SANTA BARBARA 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
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
The property is a well-maintained 1940s estate that has been under the same ownership for nearly 50 years, resulting in a home that is functional but aesthetically dated. The kitchen features older tile countertops and cabinetry, while the bathrooms and living areas show finishes, wallpapers, and carpeting consistent with renovations from 20-30 years ago. While the structure and grounds are in good condition, the interior requires significant modernization of appliances, fixtures, and surfaces to meet contemporary luxury standards.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 124146, living area = 4766.
- Prestigious Hope Ranch Lifestyle
Located on 2.85 acres in one of Santa Barbara's most exclusive enclaves, this estate offers rare private beach access and proximity to over 20 miles of scenic bridal trails.
- Comprehensive Equestrian Facilities
The property is perfectly equipped for ranch-style living with a three-stall stable and paddock, a rare find even within the equestrian-friendly Hope Ranch community.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 5.
- Likely Need for Modernization
Built in 1940 and held by the same family for nearly 50 years, the home likely requires significant capital investment to update its systems and finishes to modern luxury standards.
- Market Momentum
A recent price reduction from $9.1M to $8.9M and extended days on market suggest that the property's condition-to-price ratio may be a point of hesitation for current buyers.
About 4241 Mariposa Drive
In one of Hope Ranch's most coveted enclaves, peacefully set on 2.85 park-like acres, this timeless home features 4 bedrooms, 4.5 baths, w/ separate guest wing, and guest house. Blending classic Santa Barbara charm w/ relaxed ranch-style living, it's been lovingly cared for by the same family for nearly 50 yrs. This classic home built in 1940 offers formal living + dining rooms, den w/ bar, private office, sun-filled patios, pool, BBQ terrace, sweeping lawns, and three-stall stables & paddock. This historic hideaway surrounded by unsurpassed natural beauty w/ Hope Ranch's privately accessed beach and over 20 acres of bridal trails. This is a rare Hope Ranch legacy estate offering space, serenity, and timeless sophistication in one of the most prestigious California coastline communities.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1940
- Lot Size
- 124,146 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 5 (5 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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 5.0 | 3.0 | 82% |
| Square foot | 4,766 | 1,996 | 85% |
| Lot Size | 124,146 | 7,405 | 95% |
| Price | $8.90M | $1.82M | 90% |
| Price per sq ft | $1.9K | $951 | 95% |
| Built year | 1940 | 1971 | 5% |
| HOA | $0 | $0 | 50% |
| Days on market | 129 | 192 | 28% |
Pricing History
Listed for Sale
Feb 26, 2026
$8,900,000
$9,100,000
-2% Price Drop
Initial Listing
Price Change
Oct 29, 2025
$9,100,000
Initial Listing