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Mill Valley’s Cheapest Homes: 1 Emerson Drive

This two-bedroom townhouse is priced at $429,900.

This two-bedroom, 1-1/2-bath townhouse is located in a prime Mill Valley location. The unit features two private balconies, tiled bathroom, and plenty of extra storage space. Located just seconds from Highway 101, but sheltered from the noise. The complex, built in 1972, boasts a pool, tennis courts and clubhouse.

The unit is 1,250 square feet and is listed for $429,900.

Cypress Lakes Realty represents the property. For more information, visit the unit’s AOL Real Estate page.

Jack December 02, 2012 at 04:49 PM
Nice to see the Patch's weekly real estate ad directed more toward the general populace (the average American's net worth is $55,000 and plummeting), even if the headline hits as a taunt. Cheapest? Sounds tawdry. How about a more positive description, such as Least Expensive or Most Affordable?
Rico December 10, 2012 at 01:29 AM
Jack, this is not a single family detached house. $429,000 is rather expensive for a building where the tenant will never actually own the building or the grounds, only the inside of the 4 walls. And no doubt about it, there will be a monthly fee (rent) to the corporation for grounds maintenance, building maintenance and also to print up a big book of rules and by-laws. That fee would be in addition to the monthly loan payment. I can only guess at the total monthly price to live there, maybe $4,000 per month including HOA fees ? I don't consider that very affordable or cheap, and one would probably have to earn at least $200,000 per year to qualify for a 30 year loan to live in that shared wall box. No thanks.
Bill McGee December 10, 2012 at 08:32 AM
Ricardo, I get the idea that you don’t care much for the idea of Townhouse living. Your figures are inflated however. Townhouse and Condo ownership is certainly not for everyone. However some folks prefer to pay the homeowner fees and get the benefit of certain shared amenities such as a pool, tennis courts, clubhouse, etc. Even if the buyer is financing a large portion, the monthly mortgage and HOA fees would be a little more than half of the figure your threw out. Still, I do agree Ricardo that is a lot of money to pay for the privilege of dealing with Mil Valley traffic. For instance, I know two different couples who recently downsized from single family homes in the hills of San Anselmo and Fairfax to a properties like this in Greenbrae and Corte Madera and they are quite pleased. The kids are grown and/or away at college and they had equity in their home and they no longer needed the larger house. There is obviously a market for these because people are buying them - the public record shows that the market is quite active and getting stronger.


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