45 Parc Place Dr, Milpitas, California 95035, Milpitas, 95035 - 2 bed, 3 bath
45 Parc Place Dr
Milpitas, California 95035
Property Price
SUMMARY
Analysis of 45 Parc Place Dr, Milpitas, California 95035 is currently available with a list price of $475,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Milpitas 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.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
Built in 2005, this property falls within the 10-20 year age bracket for a 'good' rating. The unit is move-in ready and shows signs of maintenance and partial updates, including modern dark laminate flooring in the living areas and a contemporary subway tile backsplash in the kitchen. While the white appliances and bedroom carpets show some age, the overall condition is clean and functional with no immediate renovations required.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
High School: Milpitas High School (9/10).
- Exceptional Affordability
Priced at $475,000, this property offers a rare entry point into the Silicon Valley market at a significant discount compared to standard market-rate condominiums.
- Modern Construction
Built in 2005, the unit features contemporary architecture and systems, offering better energy efficiency and a more modern layout than older area housing stock.
CONSRISKS & DEFICIENCIES
- Long-Term Resale Restrictions
The 55-year resale restriction significantly limits the owner's ability to realize market-rate capital appreciation and equity growth.
- Strict Eligibility Requirements
The property is limited to first-time homebuyers who meet specific income caps, greatly narrowing the pool of potential future buyers.
- Complex Administrative Process
The requirement to qualify through the City of Milpitas and HouseKeys adds significant bureaucratic hurdles and time to the purchasing process.
About 45 Parc Place Dr
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).
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 2005
- Lot Size
- 970 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $318.0 / Month
Neighborhood Insights
Milpitas Unified Schools
Pearl Zanker Elementary School
Grades K-6 • 0.9 mi
Rancho Milpitas Middle School
Grades 7-8 • 1.8 mi
Milpitas High School
Grades 9-12 • 2.1 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 3.0 | 1.5 | 70% |
| Square foot | 1,192 | 1,079 | 60% |
| Lot Size | 970 | 1,096.515 | 50% |
| Price | $475.0K | $690.0K | 10% |
| Price per sq ft | $398 | $656 | 10% |
| Built year | 2005 | 1989 | 50% |
| HOA | $318.0 | $516 | 10% |
| Days on market | 33 | 180 | 10% |
Pricing History
Listed for Sale
Feb 2, 2026
$475,000
Initial Listing
Sold
Aug 23, 2006
$239,000
Public Record