What can $650,000 buy you? Here are 5 homes in SLO that cost that much

More from the series

Housing in SLO County: Who can afford it?

Living in SLO County is expensive. We’re exploring what it takes to afford a home on the Central Coast. Read more of our stories here:

If you’re house hunting in San Luis Obispo, you probably won’t find many homes in your price range — or much of anything under $650,000.

The city’s median home price was between $650,000 and $669,200 in April 2019, according to Zillow and the California Association of Realtors.

The median home price is the most accurate measure of the market’s middle ground. It indicates half of people paid more for their houses and half paid less.

Only about 26 percent of San Luis Obispo County households could afford to purchase a $602,000 house — the first-quarter median, according to the California Association of realtors.

At that price, the homeowner must earn $126,680 per year to afford the house, which would require a $3,170 monthly payment, including taxes and insurance.

Read Next

Here’s a selection of San Luis Obispo single-family homes currently on the market listed in the $650,000 range. Most of the homes we found were located southwest of downtown off Los Osos Valley Road or near Laguna Lake.

The biggest home on our list is 1,843 square feet and has three bedrooms and three bathrooms. The smallest house is just 792 square feet with two bedrooms and one-and-quarter bathrooms.

The planned community home

Address: 80 Del Oro Court

Price: $549,000, sale pending

Size: 1,002 square feet with two bedrooms and two bathrooms

Year built: 1974

SLO_SanLuisObispohomeprices (3)
This two-bedroom San Luis Obispo home built in a planned community at 80 Del Oro Ct. is listed for $549,000. David Middlecamp dmiddlecamp@thetribunenews.com

This is the cheapest home on our list — priced well under $650,000, with a sale pending after just 12 days on Zillow.

It’s part of Los Verdes I, a planned community just off Los Osos Valley Road. The previous owner was a construction company that overhauled the home, adding new appliances, cement countertops, flooring and dual pane windows.

Other renovations include a new water heater, decorative concrete on the back patio and a new flat roof.

The Broad Street bungalow

Address: 2527 Broad St.

Price: $619,000

Size: 792 square feet with two bedrooms and one-and-a-quarter bathrooms

Year built: 1900

This bungalow at 2527 Broad St. has two bedrooms and is listed for $619,000. David Middlecamp dmiddlecamp@thetribunenews.com

This is the only house on our list that’s relatively close to downtown — and you can definitely see it in the price per square foot.

It’s been on Zillow for more than 100 days, and the price was lowered by $10,000 at the beginning of May. The house is currently being rented for $2,100 per month.

Although the home is in a good location, it’s less than 1,000 square feet and has a strange bathroom setup. There’s one full bathroom with a tub and shower, while the other toilet is situated in the laundry room next to the washer and dryer.

Another interesting feature is an add-on room at the back of the house with a sliding glass door. The listing suggests it could be used as a studio, but it’s not hard to picture the room becoming an additional bedroom.

The Laguna Lake subdivision

Address: 1511 Balboa St.

Price: $629,500

Size: 1,116 square feet with three bedrooms and two bathrooms

Year built: 1963

This three-bedroom home at 1511 Balboa St. in San Luis Obispo is listed for $629,500. David Middlecamp dmiddlecamp@thetribunenews.com

This home is described as an “entry-level home” with room for expansion, and it’s only been on Zillow for five days.

The single-story house is located in a neighborhood that’s very close to Laguna Lake, and it has a good-sized front yard area.

The home also features a kitchen with stainless steel appliances and a fireplace — although it doesn’t look like it’s functioning, based on the listing photos.

The Los Osos Valley Road two-story

Address: 1791 Tonini Drive

Price: $659,000

Size: 1,843 square feet with three bedrooms and three bathrooms

Year built: 2004

SLO_SanLuisObispohomeprices (2)
This three-bedroom home at 1791 Tonini Drive in San Luis Obispo is listed for $659,000. David Middlecamp dmiddlecamp@thetribunenews.com

This two-story home is located near the intersection of Los Osos Valley and Madonna roads.

It’s been on the market for 46 days, and its price was lowered by $4,500 in May.

Although some of the decor and appliances need updating, it’s the biggest of the homes on our list and is close to shopping.

Related stories from San Luis Obispo Tribune