71 Rafael Way, San Luis Obispo, California 93405, San Luis Obispo, 93405 - 3 bed, 2 bath
71 Rafael Way
San Luis Obispo, California 93405
Property Price
SUMMARY
Analysis of 71 Rafael Way, San Luis Obispo, California 93405 reveals a Prime Investment Opportunity with a current list price of $949,000—significantly undercutting the $1,004,833 Fair Market Value by 5%. This valuation gap indicates a +$55,833 Instant Equity potential for buyers. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the San Luis Obispo 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.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 71 Rafael Way Subject | $949,000* List Price | 3 | 2 | 1,160 | $866 | - |
A 321 Jeffrey Drive Sold | $1,130,000 | 3 | 3 | 1,450 | $779 | 0.3 mi |
B 504 Cuesta Drive Active | $1,215,000 List Price | 4 | 3 | 1,578 | $770 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1955, the home is well-maintained and retains significant mid-century character such as wood plank beamed ceilings and original wood floors. However, the kitchen and bathrooms are described as retaining original 1950s features, making them functionally outdated and in need of modernization to meet current quality standards.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Location
Ideally situated moments from Cal Poly and downtown San Luis Obispo, this property offers exceptional convenience for university-related residents and easy access to the city's vibrant dining and shopping.
- Architectural Character
The home features desirable mid-century elements including wood plank beamed ceilings, original wood floors, and large picture windows that provide abundant natural light and unique aesthetic appeal.
- Expansion Potential
Set on a nearly 6,000 square foot lot, the property offers significant space for gardening, outdoor entertaining, or the potential development of an ADU to maximize value in a high-demand rental market.
CONSRISKS & DEFICIENCIES
- Dated Interior
The kitchen retains its original 1950s features, which, while nostalgic, will likely require a significant capital investment to modernize for contemporary functional standards.
- Limited Bathroom Count
With only 1.5 bathrooms serving three bedrooms, the layout may be a drawback for modern families or high-occupancy student housing compared to updated homes in the area.
About 71 Rafael Way
This inviting 3-bedroom, 1.5-bath home offers 1,160± sq ft of comfortable living space just moments from California Polytechnic State University. Filled with character, the spacious living room showcases wood plank beamed ceilings, beautiful wood floors, and a large picture window that brings in abundant natural light. The kitchen retains some of its original 1950s charm, offering a warm and nostalgic feel. Stairs from the kitchen lead to the laundry area, convenient half bath, and attached garage. Upstairs, you’ll find three generously sized bedrooms and a full bath, providing a functional and private layout. Situated on a 5,985± sq ft lot, there’s plenty of space for gardening, entertaining, or exploring future expansion possibilities. Ideally located near shopping, transportation, and just minutes from downtown San Luis Obispo, enjoy the vibrant Farmers’ Market, unique boutiques, dining, and entertainment this charming community is known for. A wonderful opportunity in a highly desirable location!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1955
- Lot Size
- 5,985 Sq. Ft.
Interior
- Total Bedrooms
- 3
- 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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 3.0 | 45% |
| Square foot | 1,160 | 2,133 | 6% |
| Lot Size | 5,985 | 7,240 | 27% |
| Price | $949.0K | $1.23M | 18% |
| Price per sq ft | $818 | $632 | 88% |
| Built year | 1955 | 1965 | 27% |
| HOA | $0 | $0 | 50% |
| Days on market | 9 | 157 | 2% |
Pricing History
Listed for Sale
Feb 26, 2026
$949,000
Initial Listing
Sold
Jun 29, 2007
$555,000
Public Record