840 7th St, Richmond, California 94801, Richmond, 94801 - 2 bed, 2 bath
ACTIVE$399,995$1,242/sqft
Est. Value: $455,863
13%
BelowEstimate
840 7th St, Richmond, California 94801
2Beds
2Baths
1,242Sqft
4,000Lot
Price Vs. Estimate
The estimated value ($455,862.74) is $55,867.74 (13%) higher than the list price ($399,995). This property may be underpriced.
Key pros and cons
Top Pros:
Income Potential / Versatility: The property includes a fully equipped Accessory Dwelling Unit (ADU) with its own kitchen, bathroom, and bedroom, offering excellent potential for rental income, extended family living, or a private workspace.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1242, other record living area = 1060.
Compared to the nearby listings
Price:$400.0K vs avg $515.0K ($-115,005)8%
Size:1,242 sqft vs avg 1,150 sqft53%
Price/sqft:$322 vs avg $42217%
More Insights
Built in 1927 (99 years old).
Condition: While the main house features a recently remodeled kitchen with modern finishes, new appliances, and updated flooring/lighting in primary living areas, other significant parts of the property, including one of the main bathrooms, the ADU's kitchen and bathroom, and the 'bonus room' (which appears unfinished), are dated or require completion. The property's original build year (1927) and the listing's phrase 'Bring your tool box and make it yours' indicate that despite recent updates, there are still areas requiring substantial work or modernization beyond minor cosmetic touches to achieve a consistent, move-in ready standard throughout.
Year Built
1927
Close
-
List price
$400K
Original List price
$400K
Price/Sqft
$322
HOA
-
Days on market
-
Sold On
-
MLS number
41119626
Home ConditionFair
Features
View-
About this home
Recently remodeled home featuring modern finishes and new appliances throughout with bonus room. Property includes an ADU with its own kitchen, bathroom, and bedroom—ideal for extended family, rental income, or a private workspace. Located in an upcoming and growing community just a short bicycle ride to Kaiser Hospital. Rear vehicle access from the street behind the property. A versatile opportunity with strong future potential. Bring your tool box and make it yours.
W
Wayne Carroll
Listing Agent
Nearby schools
3/10
Peres Elementary School
Public,•K-6•0.2mi
3/10
Lincoln Elementary School
Public,•K-6•0.9mi
3/10
Washington Elementary School
Public,•K-6•1.7mi
1/10
Lovonya Dejean Middle School
Public,•7-8•1.6mi
1/10
Helms Middle School
Public,•7-8•1.7mi
4/10
Fred T. Korematsu Middle School
Public,•7-8•4.0mi
3/10
Richmond High School
Public,•9-12•0.9mi
2/10
Kennedy High School
Public,•9-12•2.3mi
Price History
Date
Event
Price
05/24/24
Sold
$530,000
Condition Rating
Fair
While the main house features a recently remodeled kitchen with modern finishes, new appliances, and updated flooring/lighting in primary living areas, other significant parts of the property, including one of the main bathrooms, the ADU's kitchen and bathroom, and the 'bonus room' (which appears unfinished), are dated or require completion. The property's original build year (1927) and the listing's phrase 'Bring your tool box and make it yours' indicate that despite recent updates, there are still areas requiring substantial work or modernization beyond minor cosmetic touches to achieve a consistent, move-in ready standard throughout.
Pros & Cons
Pros
Income Potential / Versatility: The property includes a fully equipped Accessory Dwelling Unit (ADU) with its own kitchen, bathroom, and bedroom, offering excellent potential for rental income, extended family living, or a private workspace.
Recent Remodel & Modern Finishes: The main home has been recently remodeled throughout, featuring modern finishes and new appliances, providing an updated and appealing living space.
Strategic Location: Located in an 'upcoming and growing community' with close proximity (short bicycle ride) to Kaiser Hospital, indicating potential for appreciation and convenience for residents.
Added Value Features: The property benefits from a bonus room, adding flexible living space, and convenient rear vehicle access from the street behind, enhancing practicality and parking options.
Attractive Price Point: The current list price of $399,995 is highly competitive, especially considering the inclusion of an ADU and recent remodels, presenting a strong value proposition for buyers.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1242, other record living area = 1060.
Significant Price Discrepancy: The current listing price of $399,995 is substantially lower than its last recorded sale price of $530,000 in May 2024. This significant price reduction (over $130,000) in a short period warrants thorough investigation into the reasons for the drop.
Implied Need for Further Investment: The phrase 'Bring your tool box and make it yours' suggests that despite recent remodels, the property may still require additional work, personalization, or investment to reach its full potential or desired condition.
Age of Original Construction: Built in 1927, the property's older original construction, despite recent remodels, may imply potential concerns regarding underlying infrastructure (e.g., plumbing, electrical, foundation) that could require future maintenance or upgrades.