985 Market Street, Alameda, California 94501, Alameda, 94501 - 3 bed, 2 bath
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985 Market Street
Alameda, California 94501
ACTIVE
CONDITION: FAIR
3Beds
2Baths
1,558Sq Ft
4,655Lot Size
Property Price
LIST PRICE$1,249,950
EST. MARKET VALUE
$1,331,959
6% BelowMARKET VALUE
SUMMARY
This Single Family Residence represents a Strong Value Opportunity, listed at $1,249,950—positioned well below the $1,331,959 Fair Market Value by 6%. This valuation gap offers $82,009 in Instant Equity. While the home maintains a Condition Rating of 4, its prime East End location near Top-Rated Schools like Lincoln Middle and Amelia Earhart Elementary provides long-term stability. Featuring an attached two-car garage and private patio, this property is an ideal acquisition for Owner-Occupants or first-time buyers seeking to build equity through modernization.
Estimated Market Value
$1,331,959+$82,009 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Alameda.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 985 Market Street Subject 3 bd · 2 ba · 1,558 sqft · $855 | $1,249,950* List Price | 3 | 2 | 1,558 | $855 | - |
A 3273 Adams St Sold 3 bd · 2 ba · 1,515 sqft · $898 · 0.2 mi | $1,360,000 | 3 | 2 | 1,515 | $898 | 0.2 mi |
B 3246 Garfield Ave Sold 3 bd · 2 ba · 1,624 sqft · $868 · 0.7 mi | $1,410,000 | 3 | 2 | 1,624 | $868 | 0.7 mi |
C 1017 Pearl St Sold 3 bd · 2 ba · 1,838 sqft · $783 · 0.5 mi | $1,440,000 | 3 | 2 | 1,838 | $783 | 0.5 mi |
D 2801 Clay St Sold 2 bd · 1 ba · 1,290 sqft · $915 · 0.4 mi | $1,180,000 | 2 | 1 | 1,290 | $915 | 0.4 mi |
E 892 Laurel Street Sold 3 bd · 2 ba · 1,579 sqft · $690 · 0.9 mi | $1,090,000 | 3 | 2 | 1,579 | $690 | 0.9 mi |
F 1036 Regent St Sold 3 bd · 1 ba · 1,444 sqft · $956 · 0.6 mi | $1,380,000 | 3 | 1 | 1,444 | $956 | 0.6 mi |
G 3287 Briggs Ave Pending 3 bd · 2 ba · 1,413 sqft · $636 · 0.4 mi | $899,000 List Price | 3 | 2 | 1,413 | $636 | 0.4 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 1966, the property is well-maintained but significantly dated. The kitchen features older white appliances, tile countertops, and original-style cabinetry, while the bathrooms and interior doors reflect finishes older than 20-30 years. While functional and move-in ready, it requires modern updates to the primary systems and living spaces.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Amelia Earhart Elementary School (9/10). Middle School: Lincoln Middle School (9/10). High School: Alameda High School (9/10).
- Exceptional Lifestyle Location
Situated in the desirable East End, the property offers unparalleled access to the Aeolian Yacht Club, SF Bay Trail, and Crown Memorial State Beach, catering perfectly to outdoor and maritime enthusiasts.
- Top-Rated School District
The home is served by highly-ranked schools, including Lincoln Middle and Amelia Earhart Elementary (both rated 9/10), ensuring long-term property value and significant appeal for families.
CONSRISKS & DEFICIENCIES
- Dated Construction Era
Built in 1966, the home may require capital improvements or modern cosmetic updates to align with contemporary luxury standards and energy efficiency expectations.
- Limited Lot Size
With a lot size of 4,655 square feet, the outdoor space is relatively modest for the area, which may limit options for significant home expansions or large-scale private landscaping.
About 985 Market Street
Welcome to 985 Market Street, a charming 3-bedroom, 2-full-bath home offering approximately 1,558 square feet of functional living space and an attached two-car garage, nestled on a quiet court in Alamedas highly sought-after East End neighborhood. Positioned in the heart of the Bay, this home pairs peaceful neighborhood living with incredible lifestyle amenities: the historic Aeolian Yacht Club is located right across the street with berths for sailboats, top-rated Lincoln Middle School and Krusi Parks playground, tennis courts, and baseball fields are just steps away, and Towata Park offers direct connections to the San Francisco Bay Trail, Crown Memorial State Beach, and kayak launches. Everyday conveniences and dining are effortless with nearby South Shore Center and vibrant downtown Park Street, while commuters will love the seamless trip to San Francisco via the ferry or crossing the iconic Bay Farm Island Bicycle Bridge. Truly a 10+ opportunity!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1966
- Lot Size
- 4,655 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
Alameda Unified Schools
Frank Otis Elementary School
Grades K-5 • 0.2 mi
8/10
Amelia Earhart Elementary School
Grades K-5 • 0.4 mi
9/10
Edison Elementary School
Grades K-5 • 1.0 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.3 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,558 | 1,790.196 |
| Lot Size | 4,655 | 4,403.078 |
| Price | $1.25M | $1.42M |
| Price per sq ft | $802 | $831 |
| Built year | 1966 | 1928 |
| HOA | $0 | $269 |
| Days on market | 9 | 37 |
Pricing History
Listed for Sale
Oct 15, 2026
$1,249,950
Initial Listing