883 Millstone Avenue, Santa Maria, CA 93455, Santa Maria, 93455 - 3 bed, 2 bath
ACTIVE$650,000$1,314/sqft
Est. Value: $593,962
-8%
AboveEstimate
883 Millstone Avenue, Santa Maria, CA 93455
3Beds
2Baths
1,314Sqft
11,326Lot
Price Vs. Estimate
The estimated value ($593,962.115) is $56,037.885 (8%) lower than the list price ($650,000). This property may be overpriced.
Key pros and cons
Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11326, living area = 1314.
Top Cons:
Age and Required Updates: Built in 1961, the property likely requires significant updates and renovations to meet modern standards, representing an additional investment for the buyer.
Compared to the nearby listings
Price:$650.0K vs avg $750.0K ($-100,000)33%
Size:1,314 sqft vs avg 1,923 sqft14%
Price/sqft:$495 vs avg $40384%
More Insights
Built in 1961 (65 years old).
Condition: Built in 1961, this property is over 60 years old and the listing explicitly states it 'likely requires significant updates and renovations to meet modern standards' and implies 'substantial renovation costs to modernize the home.' The absence of interior photos, particularly for the kitchen and bathrooms, combined with the 'value-add' description, strongly suggests these areas are original or severely outdated, requiring full rehabilitation. Major systems (electrical, plumbing, HVAC) are also likely well past their expected lifespan and will need substantial upgrades to meet current standards and comfort.
Year Built
1961
Close
-
List price
$650K
Original List price
-
Price/Sqft
$495
HOA
$0
Days on market
-
Sold On
-
MLS number
PI25264457
Home ConditionPoor
Features
View-
About this home
Excellent opportunity on a 0.26-acre lot in Santa Maria. This 3 bed, 2 bath single-story home features 1,314 sq ft of living space and an attached garage. The expansive lot allows for RV parking, additional improvements, or future ADU options. Ideal for investors or buyers looking to add value in a sought-after neighborhood.
R
Rosemarie Dumadara Koerner
Listing Agent
Price History
Date
Event
Price
08/19/22
Sold
$485,000
Condition Rating
Poor
Built in 1961, this property is over 60 years old and the listing explicitly states it 'likely requires significant updates and renovations to meet modern standards' and implies 'substantial renovation costs to modernize the home.' The absence of interior photos, particularly for the kitchen and bathrooms, combined with the 'value-add' description, strongly suggests these areas are original or severely outdated, requiring full rehabilitation. Major systems (electrical, plumbing, HVAC) are also likely well past their expected lifespan and will need substantial upgrades to meet current standards and comfort.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11326, living area = 1314.
Development Potential: The expansive 0.26-acre lot offers significant potential for RV parking, additional improvements, or future ADU construction, enhancing long-term value.
Investment Opportunity: Explicitly marketed as an 'excellent opportunity' for investors or buyers looking to add value, indicating strong potential for appreciation through renovation.
Desirable Neighborhood: Located in a 'sought-after neighborhood' in Santa Maria, suggesting good community amenities and overall desirability.
No HOA Fees: The absence of homeowners association fees provides a financial advantage, reducing monthly ownership costs for the buyer.
Functional Single-Story Layout: The 3-bedroom, 2-bathroom single-story layout with an attached garage offers practical and comfortable living, appealing to a wide range of buyers.
Cons
Age and Required Updates: Built in 1961, the property likely requires significant updates and renovations to meet modern standards, representing an additional investment for the buyer.
Renovation Costs Implied: Positioned as a 'value-add' opportunity, buyers should anticipate substantial renovation costs to modernize the home and maximize its potential.
Modest Interior Footprint: With 1,314 sq ft of living space on a substantial 0.26-acre lot, the interior footprint might be considered modest by some buyers, especially those seeking more expansive living areas.