523 Iowa Drive, San Mateo, California 94402, San Mateo, 94402 - 3 bed, 3 bath
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San Mateo, California 94402
This Single Family Residence represents a Strong Value Opportunity, listed at $2,398,000—positioned well below the $2,523,262 Fair Market Value by 4%. This valuation gap provides $125,262 in Instant Equity for the buyer. Featuring a Condition Rating of 3, the home offers modern upgrades like a Tesla EV charging station and refinished hardwood floors. Its prime Baywood Knolls location provides exceptional lifestyle convenience. This property is an ideal acquisition for Owner-Occupants seeking a move-in ready sanctuary or discerning professionals prioritizing location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 523 Iowa Drive Subject | $2,398,000* List Price | 3 | 3 | 2,460 | $1,026 | - |
A 1549 Locust Street Active | $2,480,000 List Price | 3 | 2 | 2,025 | $1,225 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 1946, the home is exceptionally well-maintained and move-in ready. It features fresh interior paint, refinished hardwood floors, and a modern Tesla EV charging station. While the bathroom retains some dated vintage tiling, the overall condition of the living spaces and the functional kitchen/systems align with a well-maintained property in the 10-20 year maintenance cycle.
Situated in the prestigious Baywood Knolls neighborhood, the home offers exceptional proximity to downtown San Mateo's dining, Central Park, and Caltrain for easy commuting.
With 2,460 square feet and a finished lower level, the property provides significant flexibility for a home office, guest quarters, or additional recreational space.
The inclusion of a Tesla EV charging station and recent interior refreshments like new paint and refinished hardwood floors add immediate value for contemporary buyers.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2460, other record living area = 2100.
Built in 1946, the property may require ongoing maintenance or updates to aging systems typical of mid-century homes to meet modern efficiency standards.
At a list price of nearly $2.4 million, the 6,000-square-foot lot size may be perceived as modest by buyers seeking more expansive outdoor acreage at this price tier.
Set in San Mateos desirable Baywood Knolls neighborhood, this single-family home offers the warmth, character, and everyday livability that make a home truly special. Hardwood floors, a fireplace, fresh new paint, and well-proportioned living spaces create an inviting setting for relaxing, entertaining, or working from home. The finished lower level adds valuable flexibility for guests, a home office, or additional living space, while the attached garage includes a Tesla EV charging setup for added convenience. The backyard provides a private outdoor retreat with space to garden, gather, or simply enjoy the comfort of home. What makes this property even more appealing is its location. Baywood Knolls is known for its established residential feel and close proximity to some of San Mateos most loved amenities. Enjoy easy access to downtown San Mateos vibrant shopping and dining scene, Central Park, and the San Mateo Caltrain station for convenient Peninsula commuting. Blending comfort, charm, and a highly desirable setting, this home is a wonderful opportunity in one of San Mateos most sought-after neighborhoods.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 2,460 | 1,840 |
| Lot Size | 6,000 | 6,059 |
| Price | $2.40M | $2.27M |
| Price per sq ft | $975 | $1.4K |
| Built year | 1946 | 1950 |
| HOA | $0 | $600 |
| Days on market | 5 | 29 |
Jul 17, 2026
$2,398,000
Initial Listing