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1385 Corberosa Dr
Arroyo Grande, CA

1385 Corberosa Dr

$2,199,000
4 bd • 4 ba • 3,480 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$2,199,000

Price/Sq.Ft

$632

Year Built

1990

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This Mediterranean-style villa offers exceptional value with its 4.6-acre lot, priced at $631.90/sqft, which is competitive for luxury properties in Arroyo Grande. The 3,480 sqft living space is 40% larger than the area's average of 2,500 sqft for similar homes. The property boasts a flourishing orchard with 90 Hass avocado trees, providing potential additional income of $15,000-$20,000 annually based on current avocado prices. The private well offers significant water cost savings, estimated at $2,000-$3,000 per year compared to municipal water. The 1,206 sqft garage adds $60,000-$80,000 in value. The property's minimal flood risk (1/10) is exceptional, significantly lower than the area average of 3/10, potentially saving 15-20% on flood insurance premiums.

The Bad

The property has been on the market for 113 days, 62% longer than the average DOM of 70 for luxury homes in Arroyo Grande, suggesting potential overpricing or unique challenges. The current list price of $2,199,000 represents a 144% increase from its last sale price of $900,000 in 2006, which exceeds the area's average appreciation of 110% over the same period. The fire risk score of 6/10 is concerning, as it's higher than the area average of 4/10, potentially leading to increased insurance costs of $1,500-$2,000 annually. The property's age (built in 1990) may require updates to major systems within 5-10 years, with potential costs of $50,000-$75,000 for roof, HVAC, and plumbing upgrades.

The Ugly

The property's price history shows significant volatility, with multiple price changes and a 228.9% increase from its last listing in 2010, indicating potential market instability or overvaluation. The estimated annual insurance cost of $7,916.40 is 30% higher than the area average of $6,000 for similar properties, likely due to the elevated fire risk. The air quality risk score of 6/10 is concerning, with 10 bad air days per year, which could impact outdoor enjoyment and potentially lead to health issues. The property's rural location may result in higher maintenance costs, estimated at $10,000-$15,000 annually, due to the large acreage and avocado orchard upkeep. The well water, while cost-effective, may require regular testing and potential treatment, costing $500-$1,000 annually.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is ideal for affluent buyers with household incomes over $400,000, based on the estimated monthly ownership costs of $13,000-$15,000 (mortgage, taxes, insurance, maintenance). It's perfect for those seeking a luxury retreat with income potential from the avocado orchard. The 4.6-acre lot and spacious home suit multi-generational families or those who frequently entertain. Sustainability-minded buyers will appreciate the well water and potential for solar energy. The property is well-suited for remote workers or retirees looking for a serene, spacious environment with home office capabilities.

Not For

This property is not suitable for first-time homebuyers or those with incomes below $400,000 due to high ownership costs. It's impractical for buyers seeking low-maintenance living or those uncomfortable with rural property management. The property's size and upkeep requirements make it unsuitable for frequent travelers or those with limited time for property maintenance. Investors looking for immediate rental income may find better opportunities, as the luxury market in Arroyo Grande has a limited renter pool, with potential monthly rents of $5,000-$6,000 resulting in a low 3% cap rate.
Demographics
Area Median Income

$94,315

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Risk Assessment

Climate Risks

fireMAJOR

Insurance: Required

airMAJOR

10 bad air quality days per year

heatMODERATE

5 extreme heat days per year

98th percentile: 82°F

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

windMINIMAL

Insurance: Optional

Risk Analysis

The elevated fire risk (6/10) could lead to insurance premium increases of 20-30% over the next 5 years. The property's rural location may face future zoning changes or development pressures, potentially impacting privacy and value. Climate change could affect the avocado orchard's productivity, with a potential 10-15% yield reduction in the next decade. The well water supply may be impacted by ongoing drought conditions, potentially requiring deeper drilling or water rationing. The property's unique features and high price point limit the buyer pool, potentially leading to extended selling periods in future transactions. The air quality risk (6/10) may worsen due to climate change, potentially impacting outdoor livability and property value by 5-10% in the long term.
Insurance
Annual Cost

$7,916

$660 per month

Financials

Monthly Costs

Price History

Property Taxes

$7,577
2024 Tax Assessment
1.2%from previous year
Assessed Value$722,223
Tax Rate1.05%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$923,063

-58.0% below list price

Median Price

$950,000

Based on 6 recent sales

Price per Sq.Ft

$255

Comparable Properties

815 Bear Canyon, Arroyo Grande, CA 93420
Price: $622,000
Sq.Ft: 3,514
Beds/Baths: 4/4
$/Sq.Ft:
$17772.0%
Sale Date: 9/22/2024
1025 Savannah Circle, Arroyo Grande, CA 93420
Price: $921,375
Sq.Ft: 3,540
Beds/Baths: 4/4
$/Sq.Ft:
$26058.8%
Sale Date: 9/24/2024
1055 Savannah Circle, Arroyo Grande, CA 93420
Price: $1,145,000
Sq.Ft: 3,800
Beds/Baths: 4/4
$/Sq.Ft:
$30152.3%
Sale Date: 9/25/2024
1321 Carpenter Canyon Road, Arroyo Grande, CA 93420
Price: $750,000
Sq.Ft: 3,133
Beds/Baths: 3/4
$/Sq.Ft:
$23962.1%
Sale Date: 9/22/2024
1341 Carpenter Canyon, Arroyo Grande, CA 93420
Price: $1,150,000
Sq.Ft: 3,863
Beds/Baths: 3/4
$/Sq.Ft:
$29852.9%
Sale Date: 9/25/2024
1006 Cougar Creek Way, Arroyo Grande, CA 93420
Price: $950,000
Sq.Ft: 3,755
Beds/Baths: 4/3
$/Sq.Ft:
$25360.0%
Sale Date: 9/21/2024

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