Score
0Pismo Beach, CA
429 Westpoint Dr #49
864K
1 beds
2 baths
1,029 sqft
1 bd • 2 ba • 1,029 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$864,000
Price/Sq.Ft
$840
Year Built
1989
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This Pismo Beach condo offers exceptional value with its prime location and breathtaking ocean views. At $839.65/sqft, it's priced competitively compared to the median price of $917/sqft for similar properties in the area. The panoramic views from Point San Luis Lighthouse to Oceano Dunes significantly enhance its value. Recent renovations, including a remodeled kitchen with modern appliances and quartz countertops, add approximately $20,000-$25,000 in value. The property's flood risk score of 1/10 is excellent, much better than the coastal average of 4/10. Based on local rental data, similar 1-bedroom units command $1,850/month, suggesting a potential gross rental yield of 2.57%. The condo has appreciated by 13.6% since its last listing in October 2024, outperforming the average Pismo Beach condo appreciation of 8.2% during the same period.
The Bad
The 1,029 sqft layout, while efficiently designed, is 15% smaller than the average 2-bedroom condo in Pismo Beach (1,210 sqft). This limits its appeal to families or those needing more space. The single bedroom configuration may deter some buyers, as 2-bedroom units are more common and versatile in this market. The estimated annual insurance cost of $3,110.40 is approximately 20% higher than the California average for condos, likely due to its coastal location. The property's age (built in 1989) suggests potential for upcoming major system replacements within the next 5-10 years, including HVAC ($5,000-$7,000) and water heater ($1,000-$1,500).
The Ugly
The fire risk score of 6/10 is concerning and could lead to significantly higher insurance premiums or difficulty obtaining coverage. This score is 40% higher than the average for Pismo Beach (4.3/10). The air quality risk of 6/10 with 11 bad air days per year could impact the health and comfort of residents, especially those with respiratory issues. The condo's price history shows volatility, with a 10.4% decrease from its initial listing price of $964,000 in October 2024 to the current $864,000. This suggests potential overpricing initially and could indicate challenges in accurate valuation. The HOA fees, while not specified, are likely to be substantial given the extensive amenities (pool, hot tubs, tennis courts, etc.), potentially adding $400-$600 to monthly ownership costs. The total monthly ownership costs, including mortgage (assuming 20% down at 6.5% interest), taxes, insurance, and estimated HOA fees, could reach $6,500-$7,000, requiring a household income of at least $260,000 (based on a 33% DTI ratio) to comfortably afford the property.
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 single professionals or couples with household incomes above $260,000 who prioritize stunning views and a resort-like lifestyle. It's ideal for those working remotely who can utilize the dedicated ocean view office nook. The condo would appeal to second-home buyers or retirees looking for a luxurious coastal retreat with minimal maintenance concerns. Investors focused on high-end, short-term vacation rentals could potentially capitalize on Pismo Beach's tourism appeal, with peak season rates potentially reaching $300-$400 per night.
Not For
This property is not suitable for families requiring multiple bedrooms or more than 1,029 sqft of living space. The high monthly costs ($6,500-$7,000) exclude buyers with incomes below $260,000. It's not ideal for investors seeking high rental yields, as the potential 2.57% gross yield is below average for residential real estate investments. The property is also not suitable for those with respiratory issues due to the elevated air quality risk score.
Demographics
Area Median Income
$94,268
Property History
Price History
Ownership Timeline
$0Financed
Jun 6, 2019Virgil M Porter, Lynn E PorterLogan Porter
Intrafamily Transfer
Non-Arm's Length Transactions
$495,000Cash Purchase
Apr 1, 2019Robert S Badasci, Ann C BadasciVirgil M Porter, Lynn E Porter
Grant Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Nov 15, 2017Robert S Badasci, Ann C BadasciRobert S Badasci, Ann C Badasci
Intrafamily Transfer
Non-Arm's Length Transactions
$389,500Cash Purchase
Jan 25, 2016Bruce L Young, Carnie S YoungRobert S Badasci, Ann C Badasci
Grant Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Jan 14, 2016John YoungBruce L Young, Carole S Young
Re-Recorded Document
Non-Arm's Length Transactions
$0Cash Purchase
Jan 14, 2016Kay Young, John YoungJohn Young, Bruce L Young
Affidavit Of Death
Non-Arm's Length Transactions
$130,500Financed
Dec 17, 1996Home Svgs Of America FsbJohn Young, Kay Young
Grant Deed
Standard Sale (Purchase/Resales)
$101,761Cash Purchase
Aug 12, 1996Rolf F Storlie, Home Svgs Of America FsbHome Svgs Of America Fsb
Trustees Deed
Foreclosure
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Middle
6.0/10
GoodHigh
7.0/10
GoodFinancials
Monthly Costs
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$864,000
Price/sqft
$840
Layout
1 bd•2 ba
Days on market
74 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$581,603
48.6%
Your price is 48.6% above average
Median Price
$585,000
47.7%
Based on 6 recent sales
Price per Sq.Ft
$545
54.1%
Your price is 54.1% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 251 Palomar, Pismo Beach, CA 93449 | $805,000 | 1,024 | 2 | 2 | $7866.4% | 9/26/2024 |
| 121 Capistrano Avenue, Pismo Beach, CA 93449 | $725,000 | 1,020 | 2 | 2 | $71115.3% | 9/26/2024 |
| 416 Westpoint Drive, Pismo Beach, CA 93449 | $369,000 | 1,000 | 1 | 2 | $36956.1% | 9/25/2024 |
| 2169 Barcelona, Pismo Beach, CA 93449 | $540,000 | 1,134 | 2 | 2 | $47643.3% | 9/26/2024 |
| 1987 Barcelona, Pismo Beach, CA 93449 | $585,000 | 1,134 | 2 | 2 | $51638.6% | 9/26/2024 |
| 2155 Barcelona, Pismo Beach, CA 93449 | $465,615 | 1,134 | 2 | 2 | $41151.1% | 9/24/2024 |
251 Palomar, Pismo Beach, CA 93449
Price: $805,000
Sq.Ft: 1,024
Beds/Baths: 2/2
$/Sq.Ft:
$7866.4%
Sale Date: 9/26/2024
121 Capistrano Avenue, Pismo Beach, CA 93449
Price: $725,000
Sq.Ft: 1,020
Beds/Baths: 2/2
$/Sq.Ft:
$71115.3%
Sale Date: 9/26/2024
416 Westpoint Drive, Pismo Beach, CA 93449
Price: $369,000
Sq.Ft: 1,000
Beds/Baths: 1/2
$/Sq.Ft:
$36956.1%
Sale Date: 9/25/2024
2169 Barcelona, Pismo Beach, CA 93449
Price: $540,000
Sq.Ft: 1,134
Beds/Baths: 2/2
$/Sq.Ft:
$47643.3%
Sale Date: 9/26/2024
1987 Barcelona, Pismo Beach, CA 93449
Price: $585,000
Sq.Ft: 1,134
Beds/Baths: 2/2
$/Sq.Ft:
$51638.6%
Sale Date: 9/26/2024
2155 Barcelona, Pismo Beach, CA 93449
Price: $465,615
Sq.Ft: 1,134
Beds/Baths: 2/2
$/Sq.Ft:
$41151.1%
Sale Date: 9/24/2024
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