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148 Santa Fe Ave
Pismo Beach, CA

148 Santa Fe Ave

$1,895,000
4 bd • 3 ba • 1,770 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

$1,895,000

Price/Sq.Ft

$1071

Year Built

2008

AI Property Analysis

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

The Good

This luxurious Shell Beach property at 148 Santa Fe Ave boasts an exceptional location on the coveted west side, just steps from the ocean. Built in 2008, it offers modern amenities and high-end finishes throughout its 1,770 sqft. The $1,070/sqft price is justified by its prime location and luxury features. Highlights include a gourmet kitchen with granite countertops and high-end appliances, an open-concept family room with soaring ceilings, and a rooftop deck with a hot tub and panoramic ocean views. The property's flood risk score of 1/10 is significantly better than many coastal properties. Its proximity to Shell Beach Elementary School (rated 8/10 and just 0.4 miles away) adds value for families. The home's rental potential is strong, with 4-bedroom homes in the area commanding around $3,750/month as of 2023.

The Bad

At $1,895,000, this property is priced significantly above the median income for the area ($94,268), limiting the pool of potential buyers. The price per square foot ($1,070) is high even for the area, potentially making it vulnerable in a market downturn. The home's size (1,770 sqft) is relatively modest for a 4-bedroom property, which may deter some luxury buyers seeking more space. The property has a major fire risk (5/10) and air quality risk (6/10), which could lead to higher insurance premiums and potential health concerns. The estimated insurance cost of $6,822/year is substantial and will impact the total cost of ownership significantly.

The Ugly

The property's price history shows extreme volatility, with listings ranging from $819,000 to $8,450,000 between 2011 and 2013. This erratic pricing suggests potential market instability or valuation challenges. The current list price of $1,895,000 represents a 131% increase from its 2013 sale price of $820,000, which may be unsustainable. The home's location in a tourist hotspot means potential issues with noise, traffic, and parking, especially during peak seasons. The proximity to Highway 1 could also contribute to noise pollution. Climate change poses long-term risks, including potential sea-level rise and increased coastal erosion, which could impact property value and insurance costs in the future.

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 best suited for high-net-worth individuals or families with annual incomes exceeding $400,000, based on conventional mortgage qualification standards. It's ideal for those seeking a luxury coastal lifestyle with stunning ocean views and high-end amenities. The property would appeal to buyers who prioritize location over square footage and are willing to pay a premium for Shell Beach's desirable west side. It's also suitable for investors looking for a high-end vacation rental property, given the strong rental market for luxury homes in the area. The home's modern features and low maintenance requirements (built in 2008) make it attractive to second-home buyers or retirees looking for a turnkey coastal property.

Not For

This property is not suitable for first-time homebuyers or those with moderate incomes, given its high price point and ongoing costs. Families requiring more than 1,770 sqft of living space may find the layout constraining despite the 4-bedroom count. Investors seeking immediate positive cash flow might struggle given the high purchase price relative to potential rental income. Those with respiratory issues or sensitivities should be cautious due to the major air quality risk (6/10). Buyers uncomfortable with the long-term risks associated with coastal properties (erosion, sea-level rise) should look elsewhere. Additionally, it's not ideal for those seeking a quiet, non-touristy neighborhood, as Shell Beach is a popular destination.
Demographics
Area Median Income

$94,268

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Risk Assessment

Climate Risks

airMAJOR

11 bad air quality days per year

fireMAJOR

Insurance: Required

heatMODERATE

7 extreme heat days per year

98th percentile: 79°F

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

windMINIMAL

Insurance: Optional

Risk Analysis

Major fire risk (5/10) and air quality risk (6/10) could lead to health concerns and higher insurance premiums. Long-term climate change risks include potential sea-level rise and increased coastal erosion, which could impact property value and future insurability. The tourist-heavy location may lead to seasonal disruptions in quality of life and potential restrictions on short-term rentals could affect investment potential. The property's high price point makes it vulnerable to market downturns, especially given the area's history of price volatility. Potential for increased property taxes based on the high valuation could further impact affordability over time. The home's proximity to Highway 1 may result in noise pollution and affect quality of life.
Insurance
Annual Cost

$6,822

$569 per month

Financials

Monthly Costs

Price History

Property Taxes

$10,628
2024 Tax Assessment
1.2%from previous year
Assessed Value$985,489
Tax Rate1.08%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$932,500

-50.8% below list price

Median Price

$825,000

Based on 6 recent sales

Price per Sq.Ft

$518

Comparable Properties

1327 Costa Brava, Pismo Beach, CA 93449
Price: $780,000
Sq.Ft: 1,769
Beds/Baths: 3/3
$/Sq.Ft:
$44158.8%
Sale Date: 9/24/2024
1943 Barcelona, Pismo Beach, CA 93449
Price: $575,000
Sq.Ft: 1,682
Beds/Baths: 3/3
$/Sq.Ft:
$34268.1%
Sale Date: 9/24/2024
326 Capistrano Avenue, Pismo Beach, CA 93449
Price: $825,000
Sq.Ft: 1,863
Beds/Baths: 3/3
$/Sq.Ft:
$44358.6%
Sale Date: 9/25/2024
374 Placentia Avenue, Pismo Beach, CA 93449
Price: $1,100,000
Sq.Ft: 1,866
Beds/Baths: 3/3
$/Sq.Ft:
$58944.9%
Sale Date: 9/24/2024
239 Capistrano Avenue, Pismo Beach, CA 93449
Price: $795,000
Sq.Ft: 1,900
Beds/Baths: 3/3
$/Sq.Ft:
$41860.9%
Sale Date: 9/24/2024
2201 Shell Beach Road #1, Pismo Beach, CA 93449
Price: $1,520,000
Sq.Ft: 1,741
Beds/Baths: 3/3
$/Sq.Ft:
$87318.5%
Sale Date: 8/27/2024

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