Around Marin: What You Get for $500K

One of my favorite columns in the New York Times is their frequent highlights on property values around the country.  They pick a price point and give you a sample taste of how far your dollar goes (or doesn’t go) all over the U.S.  Being that we live in the bay area and I am stubbornly planting myself in Marin, most of the time this feature can be depressing.  For similar figures, bay area homes more times than not, are smaller, cost more per square foot and even our property taxes are greater for the same value.  Sigh.  Still, I can’t help but look and see what kind of house I could have purchased elsewhere (already).  Good thing is that time and time again, the description of the location brings me back to why I love the bay area and why I’m willing to fork up the high cost.

So, in that spirit, there is disparity not just across the nation but in Marin.  And today we’ll look at what half a million will buy you in Marin:

136 Lower Anchorage Rd, Sausalito – 2 beds, 2 baths – $525,000:  This listing was the closest to half a million that I could find.  In Sausalito, where home prices are above the million dollar mark, a bit more than $500K will get you not a detached family home, but a condo.  At 976SF, that translates to $538 per SF.  It is in The Anchorage complex and don’t forget to tack on the monthly HOA fee of $422.  Their is a water view and a fireplace.  Laundry facilities are shared, as are the pool.  It’s a top floor end unit and the last owners purchased it for $553,000.

541 Seaver Dr, Mill Valley - 1 bed, 1 bath – $480,000:  For a bit less than half a million, moving further up to Mill Valley, your dollar seems to get a little tighter.  This 1 bed, 1 bath condo at 756 SF works out to $635 per SF.  The $334 HOA fee covers the pool and jacuzzi and other common areas.  Laundry room is in the unit (big plus) and this is a top floor end unit as well with views of the bay.  Last owner purchased for $459,000 in Feb 2007.  Price history doesn’t show much appreciation from 2004, when that owner paid $438,000.  Another 1 bed, 1 bath unit in the same complex but a little smaller in size also has the same asking price.

24 Surrey Ln, San Rafael – 3 beds, 2 baths – $475,000:  Still in condo land as we head further north but a whole lot more for less.  On the east side of 101 off of Frietas Pkwy, lies this 1440SF townhouse.  That math works to $330 per SF.  In addition to the standard pool, there are also tennis courts for your volleying pleasure.  A nice enclosed patio is another differntiating factor from the first two condos.  Of course, what you don’t have are the water views and the distinctive flavor of either a Sausalito or Mill Valley, but more of a suburban way of living.

1287 Leafwood Hts, Novato – 4 beds, 2 baths – $499,000:  Not only does this home in Novato wins the prize in the half a million contest but it may be the lowest price per SF single family detached home in Marin.  At 1748 SF, this means you’re paying $285 per SF.  Super rare to find a home in Marin for under $300 per SF.  And this does not even take into account the nearly 7500 SF level lot.  On the west side of 101 off of Rowland, this home isn’t in any prime Novato locales, but right smack in central Novato and close enough to what Novato has to offer.  This home looks to be a short sale as the last owner paid $586,000 in 2004.  Well maintained and definitely in the burbs.