577 Princeton Place, San Luis Obispo, California 93405, San Luis Obispo, 93405 - 5 bed, 2 bath
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577 Princeton Place
San Luis Obispo, California 93405
ACTIVE
CONDITION: FAIR
5Beds
2Baths
2,168Sq Ft
8,400Lot Size
Property Price
LIST PRICE$1,325,000
EST. MARKET VALUE
$1,350,000
SUMMARY
This Spacious Single Family Residence is a Strong Value Opportunity, listed at $1,350,000—positioned well below the $1,349,155 Fair Market Value by 0%. While the property is priced at market, it offers a rare 5-bedroom layout in a prime cul-de-sac location. Featuring a Condition Rating of 4, the home provides a functional foundation for cosmetic modernization to drive future appreciation. With its proximity to Cal Poly and a private creek-side setting, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-potential property in San Luis Obispo.
Estimated Market Value
$1,350,000
Based on Realkey algorithm analyzing recent comparable sales in San Luis Obispo.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 577 Princeton Place Subject | $1,325,000* List Price | 5 | 2 | 2,168 | $623 | - |
A 298 Ramona Drive Sold | $1,120,000 | 5 | 2 | 1,736 | $645 | 0.5 mi |
B 550 Highland Sold | $1,352,500 | 4 | 2 | 1,891 | $715 | 0.2 mi |
C 137 Broad St Sold | $1,125,000 | 3 | 2 | 1,793 | $627 | 0.8 mi |
D 512 Dartmouth Sold | $1,275,000 | 4 | 3 | 1,611 | $791 | 0.2 mi |
E 24 Verde Drive Sold | $1,230,000 | 3 | 2 | 1,633 | $753 | 0.5 mi |
F 321 Jeffrey Drive Sold | $1,130,000 | 3 | 3 | 1,450 | $779 | 0.2 mi |
G 811 Mission Sold | $1,295,000 | 3 | 2 | 1,674 | $774 | 1.0 mi |
H 123 Ramona Active | $1,350,000 List Price | 4 | 3 | 2,180 | $619 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1958, the property has received some recent cosmetic updates including luxury vinyl plank flooring and stainless steel appliances. However, the kitchen cabinetry, bathrooms, and acoustic tile ceilings remain significantly dated (30+ years). The presence of older wall heaters suggests the HVAC systems have not been fully modernized. While functional and move-in ready, the home requires significant updates to meet modern standards.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Location
Situated on a quiet cul-de-sac near Cal Poly and Bishop Peak, this property offers exceptional access to top-tier education, hiking trails, and downtown amenities.
- Generous Living Space
With 5 bedrooms and over 2,100 square feet, this home is larger than many in the area, providing a functional floor plan and flexibility for various living arrangements.
- Private Natural Setting
The property backs to a seasonal creek with mature landscaping and an 8,400 square foot lot, offering enhanced privacy and ample space for RV or boat parking.
CONSRISKS & DEFICIENCIES
- Limited Bathroom Ratio
Despite having five bedrooms, the home only features two bathrooms, which may be inconvenient for large families or high-occupancy rental scenarios.
- Vintage Infrastructure
Originally built in 1958, the property may require ongoing maintenance or updates to its aging systems to meet modern efficiency and aesthetic standards.
About 577 Princeton Place
Located on a quiet cul-de-sac in one of San Luis Obispo's most desirable neighborhoods, this spacious 5-bedroom, 2-bath home offers approximately 2,168± square feet of living space—larger than many homes in the area. The property backs to a seasonal creek with mature landscaping, providing a natural backdrop and added privacy. Inside, luxury vinyl plank flooring runs throughout, abundant windows bring in natural light, and the functional floor plan offers flexibility for a variety of living arrangements. The generous driveway provides ample off-street parking, with additional paved side-yard space offering potential for boat or recreational vehicle parking. Ideally situated just minutes from Cal Poly, Bishop Peak hiking trails, shopping, restaurants, and the Foothill corridor, the home also enjoys excellent access to San Luis Obispo's expanding network of bike paths and multi-use trails, making it easy to commute, recreate, and enjoy the Central Coast lifestyle.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1958
- Lot Size
- 8,400 Sq. Ft.
Interior
- Total Bedrooms
- 5
- Total Bathrooms
- 2 (2 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 |
|---|---|---|
| Beds | 5.0 | 3.1 |
| Baths | 2.0 | 3.0 |
| Square foot | 2,168 | 1,868.778 |
| Lot Size | 8,400 | 6,365.978 |
| Price | $1.32M | $1.27M |
| Price per sq ft | $611 | $676 |
| Built year | 1958 | 1986 |
| HOA | $0 | $91 |
| Days on market | 37 | 49 |
Pricing History
Listed for Sale
Aug 14, 2026
$1,325,000
$1,350,000
-2% Price Drop
Initial Listing
Price Change
Aug 3, 2026
$1,350,000
Initial Listing