501 Picasso Way, Folsom, CA 95630, Folsom, 95630 - 3 bed, 3 bath
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501 Picasso Way
Folsom, CA 95630
ACTIVE
CONDITION: GOOD
3Beds
3Baths
1,501Sq Ft
0Lot Size
Property Price
LIST PRICE$499,000
EST. MARKET VALUE
$511,158
SUMMARY
This Turnkey Condominium represents a Strong Value Opportunity, listed at $499,000—positioned well below the $516,900 Fair Market Value by 3%. This valuation gap provides $17,900 in Instant Equity for the buyer. Featuring a Good Condition Rating, the home includes modern laminate flooring, plantation shutters, and a private patio. Zoned for top-tier schools like Vista Del Lago High (9/10), this property offers a low-maintenance lifestyle, making it an ideal acquisition for first-time buyers or owner-occupants seeking a move-in ready residence.
Estimated Market Value
$511,158
Based on Realkey algorithm analyzing recent comparable sales in Folsom.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 501 Picasso Way Subject | $499,000* List Price | 3 | 3 | 1,501 | $341 | - |
A 401 Picasso Way Sold | $525,000 | 2 | 3 | 1,501 | $350 | 0.0 mi |
B 1608 Esplanade Cir Sold | $422,500 | 2 | 3 | 1,355 | $312 | 0.4 mi |
C 3705 Esplanade Circle Sold | $500,000 | 2 | 3 | 1,747 | $286 | 0.3 mi |
D 3801 Esplanade Circle Active | $524,900 List Price | 3 | 3 | 1,434 | $366 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Built in 2007, this 19-year-old property falls within the 10-20 year range for 'Good' condition. The interior is well-maintained and move-in ready with functional kitchen and bathrooms featuring original wood cabinetry and tile flooring. While the black appliances and finishes are slightly dated, the home shows no signs of deferred maintenance and includes modern features like dual-pane vinyl windows and plantation shutters.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
High School: Vista Del Lago High School (9/10).
- Prime Location & Top-Rated Schools
Situated in the desirable Folsom Parkway, the property is zoned for top-tier schools including Vista Del Lago High (9/10) and is minutes from Folsom Lake recreation and local amenities.
- Turnkey Condition
The home is move-in ready with modern laminate flooring, plantation shutters, and high-quality Samsung appliances included, significantly reducing immediate post-purchase expenses.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
- High Monthly HOA Dues
The $400 monthly association fee represents a significant recurring cost that may impact the overall affordability and debt-to-income ratio for some buyers.
- Multi-Level Layout
With all bedrooms located on the upper floor, the layout may be less appealing to buyers with mobility concerns or those seeking the convenience of a main-level primary suite.
About 501 Picasso Way
Welcome to Rivage in the Folsom Parkway. This inviting 3-bedroom, 2.5-bath condominium offers approx 1,501 square feet of living space. Interior designed with laminate flooring in downstairs living room, dining room, upstairs hallway and one bedroom, with tile floors in kitchen, laundry and bathrooms, and carpet in two bedrooms and on the staircase. The dual-pane vinyl windows are accented with plantation shutters. The main level offers open living and dining rooms that flow seamlessly between the kitchen and patio, perfect for everyday living, relaxing and entertaining. The kitchen features wood cabinetry, gas range and oven, microwave, dishwasher, disposal, and pantry cabinet. A convenient half bath and laundry room with storage cabinets complete the main floor. Upstairs you have three spacious bedrooms, two full baths and a built-in desk in the hallway that provide privacy and comfort. The primary suite includes an ensuite bathroom with dual vanity, and a large shower enclosure. There is an attached 2 car garage and the community has additional parking for guests. The Rivage Association offers roof and exterior and grounds maintenance, insurance on the structure, security patrol, a playground and access to nearby trails perfect for outdoor adventures. The property includes a refrigerator and Samsung washer and dryer. Ideally located near shopping, restaurants, schools, parks, and Folsom Lake recreation. Move-in ready!
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 2007
- Lot Size
- -
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $400 / Month
Neighborhood Insights
Folsom Unified Schools
Folsom Hills Elementary School
Grades K-5 • 0.7 mi
8/10
Folsom Middle School
Grades 6-8 • 2.1 mi
8/10
Vista Del Lago High School
Grades 9-12 • 2.2 mi
9/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 2.5 |
| Baths | 3.0 | 3.0 |
| Square foot | 1,501 | 1,350.636 |
| Lot Size | - | 2,295.5 |
| Price | $499.0K | $456.6K |
| Price per sq ft | $332 | $335 |
| Built year | 2007 | 2006 |
| HOA | $400 | $359 |
| Days on market | 47 | 79 |
Pricing History
Listed for Sale
Jul 24, 2026
$499,000
Initial Listing
Sold
May 27, 2009
$268,000
Public Record
Sold
Dec 12, 2008
$240,000
Public Record
Sold
Mar 20, 2006
$379,500
Public Record