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409 Sycamore St
San Carlos, CA

409 Sycamore St

$2,499,000
2 bd • 2 ba • 1,620 sf

This analysis was generated by artificial intelligence on 1/25/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$2,499,000

Price/Sq.Ft

$1543

Year Built

1955

AI Property Analysis

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

The Good

This property excels with its prime location perched above downtown San Carlos, offering stunning Bay views and convenient access to top-rated schools, parks, and local amenities. The home, priced at $2,499,000 ($1,542.59/sqft), features luxurious upgrades including wide plank oak floors, a gourmet kitchen with high-end appliances (Bosch stovetop, double ovens, Thermador column fridge/freezer), and modern energy-efficient systems. The property boasts owned solar panels with Tesla PowerWalls, a heat pump HVAC system, and an energy-efficient heat pump water heater, significantly reducing utility costs. The 1,620 sqft layout is efficiently designed with flexible spaces, including a separate office/guest room with a Murphy bed. The expansive terraced backyard with multiple flat areas adds significant outdoor living space, ideal for entertaining. The walk-in basement with a 1,000+ bottle wine cellar and workshop adds valuable storage and potential for future expansion. The property's minimal flood (1/10) and fire (1/10) risk scores are exceptionally low for the area.

The Bad

At $2,499,000, this property is priced at a premium, which may limit the pool of potential buyers. The home was built in 1955, which could mean potential maintenance issues despite recent upgrades. With only 2 bedrooms and 2 bathrooms in 1,620 sqft, it's smaller than many families might prefer in this price range. The severe air quality risk (7/10) with 12 bad air days per year could be a concern for some buyers, potentially requiring investment in air purification systems. The estimated insurance cost of $8,996.40/year is relatively high, adding to the overall cost of ownership. The property's appreciation rate, while positive (117.3% increase since 2005), may not be as aggressive as some investors might hope for in this market.

The Ugly

The total monthly ownership costs are extremely high. Assuming a 20% down payment ($499,800) and a 30-year fixed mortgage at current rates (around 3.5%), the monthly mortgage payment alone would be approximately $8,950. Adding property taxes (estimated at $2,082/month based on 1% of purchase price), insurance ($750/month), and maintenance reserves (typically 1% of home value annually, or $2,082/month), the total monthly cost could exceed $13,864. This requires an annual income of over $555,000 (using a 30% housing expense ratio), which is significantly above the median income for the area ($205,912). The severe air quality risk (7/10) could lead to health concerns and potentially impact future resale value. The moderate heat risk (3/10) with 7 hot days per year may necessitate additional cooling solutions in the future as climate change progresses.

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 affluent buyers with household incomes well over $555,000 annually. It's ideal for professionals or executives who value a prime location with stunning views and proximity to Silicon Valley job centers. The flexible layout and guest room make it suitable for couples who frequently entertain or need a home office. Wine enthusiasts will appreciate the 1,000+ bottle cellar. The property is perfect for eco-conscious buyers who prioritize energy efficiency and modern smart home features. The terraced backyard and multiple outdoor spaces make it great for gardening enthusiasts or those who love outdoor entertaining.

Not For

This property is not suitable for large families needing more than 2 bedrooms or those requiring more than 1,620 sqft of living space. It's not ideal for first-time homebuyers or those with household incomes below $555,000 due to the high monthly costs. Investors looking for high rental yields may find the price point challenging for positive cash flow. Those with respiratory sensitivities may be concerned about the severe air quality risk. Buyers looking for a low-maintenance property may find the terraced yard and older home structure (despite upgrades) require more upkeep than desired.
Demographics
Area Median Income

$205,912

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Risk Assessment

Climate Risks

airSEVERE

12 bad air quality days per year

heatMODERATE

7 extreme heat days per year

98th percentile: 92°F

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

fireMINIMAL

Insurance: Optional

windMINIMAL

Insurance: Optional

Risk Analysis

The severe air quality risk (7/10) poses potential health concerns and may require investment in air purification systems. The home's age (built 1955) suggests potential for hidden maintenance issues despite recent upgrades. The high price point may limit future appreciation potential in a market downturn. The hillside location, while offering views, may have increased landslide or erosion risks that should be thoroughly assessed. Future changes in solar incentives or regulations could impact the value of the owned solar system. The high cost of ownership may make the property vulnerable to market fluctuations, potentially leading to longer selling times or price reductions if the luxury market cools.
Insurance
Annual Cost

$8,996

$750 per month

Financials

Monthly Costs

Price History

Property Taxes

$19,432
2024 Tax Assessment
3.9%from previous year
Assessed Value$1,564,846
Tax Rate1.24%

Location & Comparables

Subject Property
Comparable Sales
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Frequently Asked Questions

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