Property Overview:
440 Melville Ave is a single-family home in Palo Alto, CA 94301, built in 1926. It features 3 bedrooms, 2 bathrooms, and 2,879 sq. ft. of living space on a 0.34-acre (15,000 sq. ft.) lot. The estimated home value is $4,129,395 (recently listed for $8,800,000). The property includes a parking garage, fireplace, heating and cooling systems, and hardwood floors throughout.
Neighborhood Highlights:
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Crime Rate:
- Personal crime risk: 4.4% (lower than state average of 11.8%).
- Property crime risk: 10.7% (lower than state average of 10.8%).
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Schools:
Nearby schools include Addison Elementary, Palo Alto High, Frank S. Greene Jr. Middle, and Packard Children’s Hospital/Stanford.- Average SAT score: 1221 (626 Math, 595 English), well above state average of 975.
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Job Market:
- 80.8% white-collar jobs, 19.2% blue-collar jobs.
- Unemployment rate: 2.1% (lower than state average of 4.7%).
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Demographics:
- Community population: 15,402 (17% growth since 2000).
- 50% families with children.
- Largest age group: 45-54 years (15.56%); second largest: 25-34 years (13.36%).
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Natural Disaster Risk:
- Moderate flood risk, low tornado risk, high earthquake risk.
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Weather:
- Average temperature: 51.7°F (January), 87.6°F (July).
- Average rainfall: 17.3 inches/year.
- Average snowfall: 0.1 inches/year.
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Cost of Living:
- Median household income: $132,129.
- Average annual spending: $83,423.
Property Features:
- Timeless architecture with period details and French doors.
- Sun-lit interiors and spacious formal gathering rooms.
- Luxuriant gardens on a perfectly shaped, expansive lot (100 x 150 ft).
- Boundless opportunities to remodel, expand, or build a true Silicon Valley estate.
- Potential to expand house by +1,300 sq. ft. above ground and +1,300 sq. ft. basement.
- For new construction: max allowed floor area above ground is 5,250 sq. ft.; conceptual design for 7,259 sq. ft. (including 2,300 sq. ft. basement) available.
- Hardwood floors throughout.
- Parking garage and fireplace.
- Move-in ready with new paint and carpet.
Location Benefits:
- Blocks from Downtown Palo Alto, Stanford University, pristine parks, top shopping, fine dining, and exceptional schools.
- Nearby amenities:
- Grocery stores: S-O-S Fine Foods, Trader Joe’s, Whole Foods.
- Coffee shops: Pete’s Coffee, Peet’s Coffee and Tea.
- Restaurants: Peninsula Creamery, Fast Tony’s Chicken, Sushi House.
- Parks: Bowling Green Park, Scott Park, Heritage Park.
- Surrounded by vast estates in the prestigious Professorville neighborhood.
- Once-in-a-lifetime opportunity to own a distinguished historic home in a prime Silicon Valley location.