935 Old County Road 22, Belmont, California 94002, Belmont, 94002 - 2 bed, 2 bath
Loading property details...
935 Old County Road 22
Belmont, California 94002
ACTIVE
CONDITION: FAIR
2Beds
2Baths
1,054Sq Ft
0Lot Size
Property Price
LIST PRICE$660,837
EST. MARKET VALUE
$680,428
SUMMARY
This Below Market Rate (BMR) Condominium is a Prime Investment Opportunity, listed at $660,837—positioned well below the $678,934 Fair Market Value by 2%. This gap provides $18,097 in Instant Equity for qualified buyers. Featuring a Condition Rating of 4, the unit offers vaulted ceilings and a private balcony with hill views. Located near Top-Rated Schools like Carlmont High (9/10), this property is an ideal acquisition for first-time buyers or owner-occupants who meet the specific income and household eligibility requirements.
Estimated Market Value
$680,428
Based on Realkey algorithm analyzing recent comparable sales in Belmont.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 935 Old County Road 22 Subject | $660,837* List Price | 2 | 2 | 1,054 | $646 | - |
A 400 Davey Glen Road 4330 Sold | $475,000 | 1 | 1 | 771 | $616 | 0.6 mi |
B 400 Davey Glen Road 4601 Active | $628,000 List Price | 2 | 2 | 1,056 | $595 | 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 1992 (32 years old), the property exceeds the 20-year threshold for dated systems and finishes. While the listing mentions newer kitchen appliances and the unit appears well-maintained and functional, the overall aesthetic and original 90s features (like the carpeting and bathroom fixtures) suggest it needs minor cosmetic updates rather than a full rehab.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Middle School: Ralston Intermediate School (9/10). High School: Carlmont High School (9/10).
- Exceptional Value
As a Below Market Rate (BMR) property priced at $660,837, this home offers a rare opportunity to enter the Belmont market at a significant discount compared to market-rate units.
- Interior Architecture
The top-floor unit features vaulted ceilings and an open-concept kitchen with newer appliances, providing a sense of volume and modern functionality.
CONSRISKS & DEFICIENCIES
- Resale Restrictions
The BMR status imposes strict limits on future sale prices and equity growth, which may impact the long-term investment potential for the buyer.
- Strict Eligibility Requirements
Prospective buyers must meet specific income and household size criteria, and the property must remain owner-occupied, prohibiting its use as a rental investment.
About 935 Old County Road 22
**THIS IS A BELOW MARKET RATE PROPERTY. The purchase price CANNOT exceed $660,837 (it cannot be bid up higher). The buyer must qualify to purchase this home by NOT EXCEEDING a set maximum income. For example, for a household of 4, the income CANNOT EXCEED $240,950. It must be sold to a household of at least 2 or more people. It MUST BE OWNER OCCUPIED (cannot be purchased and then rented out). At closing, the new owner will sign documents restricting the sale in the future to comply with the below market rate restrictions. If multiple buyers apply and qualify, the winning buyer will be selected by lottery.** Top floor unit with vaulted ceilings. The kitchen features newer appliances, lots of cabinetry, and a desirable sense of openness over the kitchen peninsula out to the dining area and living room. The primary bedroom ensuite features 2 reach-in closets, 2 sinks and a large soaking tub. Laundry is convenient with an in-unit stackable washer and dryer. One car garage plus a nearby assigned parking space. The close-by amenities of Belmont and Belmont's strong schools are another wonderful asset of this home!
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1992
- Lot Size
- -
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $500.0 / Month
Neighborhood Insights
Belmont Unified Schools
Cipriani Elementary School
Grades K-5 • 1.7 mi
8/10
Redwood Shores Elementary School
Grades K-5 • 2.5 mi
7/10
Sandpiper Elementary School
Grades K-6 • 2.5 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 1.0 |
| Baths | 2.0 | 1.0 |
| Square foot | 1,054 | 876 |
| Lot Size | - | 72,162 |
| Price | $660.8K | $922.5K |
| Price per sq ft | $627 | $791 |
| Built year | 1992 | 2019 |
| HOA | $500.0 | $540 |
| Days on market | 37 | 73 |
Pricing History
Listed for Sale
Aug 3, 2026
$660,837
Initial Listing
Sold
Mar 9, 1993
$173,000
Public Record