45 Parc Pl, Milpitas, California 95035, Milpitas, 95035 - 2 bed, 3 bath
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Milpitas, California 95035
This Below Market Rate (BMR) Condominium is a Strong Value Opportunity, listed at $475,000—positioned well below the $515,808 Fair Market Value by 7%. This valuation gap offers $40,808 in Instant Equity for qualified buyers. Featuring a Condition Rating of 3, the unit is move-in ready with modern finishes and a private patio. Located near top-tier schools like Milpitas High School (9/10), this property is an ideal acquisition for first-time buyers or income-eligible households seeking a stable, high-quality living environment.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 45 Parc Pl Subject | $475,000* List Price | 2 | 3 | 1,192 | $433 | - |
A 1101 S Main Street 212 Active | $507,604 List Price | 2 | 2 | 1,015 | $500 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 2005, the property is approximately 21 years old but appears very well-maintained and move-in ready. The interior features updated laminate flooring, a clean kitchen with stone countertops and a modern tile backsplash, and overall functional systems suitable for immediate occupancy.
High School: Milpitas High School (9/10).
Listed at $475,000, this property provides a rare opportunity to own a modern condo in Milpitas at a price point significantly below the local market average.
The property is served by highly-rated schools, including Milpitas High School which boasts a rating of 9, offering excellent educational value for families.
As a Below Market Rate (BMR) unit, buyers must be first-time homeowners and meet specific, rigid household income maximums to qualify for purchase.
The property is subject to a 55-year resale restriction, which significantly limits future appreciation potential and investment flexibility compared to market-rate homes.
This is a golden opportunity to own a condo that check all the boxes. Great Neighborhood, Clean Unit, and Location, Location, Location! This Property falls under the Below Market Rate Program and is subject to a 55-year Resale Restriction with the City of Milpitas. INCOME MAX for household: 1pl-$164,000, 2ppl-$164,000, 3ppl-$210,950, 4ppl-$234,250, 5pppl-$253,000. Applicants MUST BE first time home buyers, income eligible and must qualify for the opportunity. Program qualifications and guidelines are important to read and review before beginning the process. See City Guidelines for preferences Please visit the program website for more information at www.housekeys.org (inquire about BMR program) and www.myhousekeys.com (when a household is ready to apply for opportunity).
No exterior & parking available.
Grades K-6 • 0.9 mi
Grades 7-8 • 1.8 mi
Grades 9-12 • 2.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 3.0 | 2.0 | 71% |
| Square foot | 1,192 | 1,180 | 53% |
| Lot Size | 970 | 836 | 71% |
| Price | $475.0K | $751.0K | 12% |
| Price per sq ft | $398 | $661 | 6% |
| Built year | 2005 | 2007 | 47% |
| HOA | $318.0 | $564 | 12% |
| Days on market | 21 | 92 | 6% |
May 16, 2026
$475,000
Initial Listing
Aug 23, 2006
$239,000
Public Record