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487 Via Del Plano
Score
0
Novato, CA

487 Via Del Plano

1.2M
3 bd • 2 ba • 1,624 sf

This analysis was generated on 1/23/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

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List Price

$1,162,000

Price/Sq.Ft

$716

Year Built

AI Property Analysis

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

The Good

The property at 487 Via Del Plano, Novato, CA 94949 offers several attractive features. At 1,624 sqft, it's 8% larger than the average 3-bedroom home in Novato (1,500 sqft). The location is prime, nestled in a quiet residential area with mature trees and backing up to scenic hills, providing a serene environment. The lot appears spacious, with a well-maintained front yard that enhances curb appeal. The two-car garage adds convenience and storage value. Based on the median income of $107,547, this property is within reach for many local buyers. The current rental rate for a 3-bedroom home in Novato is $3,980, suggesting potential for a 4.1% gross rental yield if used as an investment property.

The Bad

The price of $1,162,000 translates to $715.52 per square foot, which is approximately 10% above the Novato average of $650/sqft for similar properties. This premium pricing may limit the pool of potential buyers. The house appears to be older, potentially built in the 1960s or 1970s, which could mean higher maintenance costs and outdated systems. The exterior paint and roof seem to be in fair condition but may need attention in the near future. The driveway is showing signs of wear and may require resurfacing. With only 2 bathrooms for a 3-bedroom home, it may feel cramped for larger families or those who frequently entertain guests.

The Ugly

The property's location in a hillside area raises concerns about potential erosion and stability issues, which could lead to costly foundation repairs (estimated $20,000-$50,000). The surrounding vegetation, while beautiful, increases wildfire risk, potentially resulting in higher insurance premiums (15-25% above average). Given Novato's susceptibility to drought, water conservation measures may be necessary, with potential costs for landscaping updates ($5,000-$10,000). The lack of solar panels means higher energy costs in an area with rising utility prices (approximately 6% annual increase). If major systems (HVAC, plumbing, electrical) are original, they may need replacement soon, totaling $30,000-$50,000.

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: 1. Small families or couples looking for a starter home in a quiet, scenic area. 2. Professionals working in Novato or nearby areas who value a shorter commute. 3. Nature enthusiasts who appreciate proximity to hiking trails and outdoor activities. 4. Buyers with a household income of $180,000+ (based on 30% DTI ratio for mortgage payments). 5. Those willing to invest in updates and maintenance to potentially increase property value. 6. Investors looking for long-term appreciation in a desirable Novato neighborhood.

Not For

This property is not ideal for: 1. Large families needing more than 3 bedrooms or 2 bathrooms. 2. Buyers on a tight budget, as the price is above average for the area. 3. Those seeking a turnkey property with no immediate maintenance or upgrade needs. 4. Individuals with mobility issues, due to the potential for hilly terrain. 5. Risk-averse buyers concerned about wildfire and erosion risks. 6. Investors looking for high immediate rental yields, as the current price point may limit cash flow.
Demographics
Area Median Income

$107,547

Property History

Price History
Ownership Timeline
$850,000Financed
Jul 28, 2020
Kathleen Ward Miles, Miles Family TrustFedor Mikhaylovich Kolyadin, Christina Valentinovna Zubkova
Grant Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Dec 10, 2012
Kathleen Ward MilesKathleen Ward Miles, Miles Family Trust
Intrafamily Transfer
Non-Arm's Length Transactions
$0Cash Purchase
Jan 16, 2012
Paul J Miles, Kathleen Ward MilesPaul J Miles, Kathleen Ward Miles
Intrafamily Transfer
Non-Arm's Length Transactions

Sunlight Analysis

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Sunlight Analysis

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Risk Assessment

Risk Analysis

1. Wildfire risk: The hillside location and surrounding vegetation increase vulnerability (7/10 risk score). 2. Erosion and soil stability: Hillside properties may face foundation issues over time (6/10 risk score). 3. Drought impact: Potential water restrictions and landscaping challenges (8/10 risk score). 4. Market volatility: Novato's real estate market can be influenced by Bay Area tech sector fluctuations. 5. Aging infrastructure: Potential need for significant updates to major home systems within 5-10 years. 6. Insurance costs: Higher premiums likely due to wildfire risk and potential erosion issues. 7. Traffic congestion: Commute times to San Francisco and other job centers may increase. 8. Climate change: Increasing temperatures may affect comfort and energy costs in the future.

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Schools

Novato High School

Public•Grades 9-12
6/10
High
1,410 students

Loma Verde Elementary School

Public•Grades K-5
5/10
Elementary
401 students

Financials

Monthly Costs
Market Rent (3 bed)

$3,980

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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$1,162,000
Price/sqft
$716
Layout
3 bd•2 ba

Stats in the Area

Based on 6 comparable properties nearby

Average Price

$1,130,000

2.8%

Your price is 2.8% above average

Median Price

$1,160,000

0.2%

Based on 6 recent sales

Price per Sq.Ft

$705

1.5%

Your price is 1.5% above average $/sqft

Comparable Properties

441 Alameda De La Loma, Novato, CA 94949
Price: $1,500,000
Sq.Ft: 1,677
Beds/Baths: 3/2
$/Sq.Ft:
$89425.0%
Sale Date: 10/3/2024
1085 Cambridge Street, Novato, CA 94947
Price: $1,150,000
Sq.Ft: 1,395
Beds/Baths: 3/2
$/Sq.Ft:
$82415.2%
Sale Date: 10/18/2024
910 Calle Paseo, Novato, CA 94949
Price: $1,160,000
Sq.Ft: 1,504
Beds/Baths: 3/2
$/Sq.Ft:
$7717.8%
Sale Date: 9/2/2024
472 Via Del Plano, Novato, CA 94949
Price: $1,070,000
Sq.Ft: 1,885
Beds/Baths: 4/2
$/Sq.Ft:
$56820.7%
Sale Date: 9/30/2024
526 Entrada Drive, Novato, CA 94949
Price: $700,000
Sq.Ft: 1,371
Beds/Baths: 2/2
$/Sq.Ft:
$51128.6%
Sale Date: 9/27/2024
490 Marin Oaks Drive, Novato, CA 94949
Price: $1,200,000
Sq.Ft: 1,806
Beds/Baths: 3/2
$/Sq.Ft:
$6647.1%
Sale Date: 9/9/2024

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