501 Park Way
Mill Valley 94941 · Homestead · Unincorporated Marin · Coordinates: 37.89868, -122.55506
Executive Verdict · Public-Records Synthesis
Zoned RSP-7 in Unincorporated Marin with likely ADU & SB 9 infill eligibility and mapped CAL FIRE high fire hazard severity zone (state responsibility area) due diligence; benchmark value $2,112,000 ($1,859,000–$2,365,000).
Upsides & Opportunities
- ✓ ADU & SB 9 infill pathways screen as likely eligible
Zoned RSP-7 supports ministerial ADU/JADU review plus SB 9 both two-unit development and ministerial urban lot split on a 5,489 sq ft lot. Local precedent is active with 1 ADU permit within ¼ mile over the last 36 months.
Source: Unincorporated Marin zoning · CA Gov. Code 66314 & 65852.21
- ✓ 2 documented municipal building permits on file
On-parcel permit history is indexed through Oct 12, 2025, letting you verify roof, HVAC, electrical, or structural work against seller disclosures.
Source: County of Marin Community Development Agency, Building Permits (unincorporated Marin) (parcel APN)
- ✓ Above-average reinvestment in Homestead
22 substantial renovation & housing permits over 24 months (20.7 per 1,000 parcels vs. 16.4 citywide baseline) (#2 of 22 neighborhoods).
Source: County of Marin Community Development Agency, Building Permits (unincorporated Marin) (Homestead)
Watchouts & Due Diligence
- ! Mapped flood awareness zone (Zone X: minimal flood hazard)
all of the lot of the parcel intersects Zone X: minimal flood hazard. Outside mandatory federal SFHA insurance rules, but check local drainage and finished-floor requirements.
Source: FEMA National Flood Hazard Layer (parcel polygon)
- ! CAL FIRE High Fire Hazard Severity Zone (State Responsibility Area) (all of the lot of lot)
Located in a mapped Fire Hazard Severity Zone. Expect Chapter 7A ignition-resistant building standards, defensible-space inspections, and stricter property insurance underwriting.
Source: CAL FIRE FHSZ (map Apr 1, 2024)
- ! 6 slow or stalled nearby projects within ½ mile
Closest lead: New home (0.38 mi E, entitled). Inspect timeline history before assuming near-term completion.
Source: County of Marin Community Development Agency, Building Permits (unincorporated Marin) · HCD APR (½-mile radius)
- ! Year 1 Prop 13 tax reset (~$24,738/yr at $2,112,000)
Sale triggers reassessment to 1.00% base + ~0.15% voter debt (~$2,062/mo). Confirm exact Mello-Roos / CFD special assessments on the county tax bill.
Source: CA Const. Art. XIIIA (Prop 13) · County Tax Collector
Parcel & Assessor
- Lot size:
- 5,489 sq ft (0.13 ac)
- Assessor use:
- Single-Resid. - Improved
- Addresses on lot:
- 501 PARK WAY
Zoning & Land Use
RSP-7 — Residential Single Family Planned (Unincorporated Marin)
State Housing Pathways Screen (ADU & SB 9)
- ADU or junior ADULikely eligible
Zoned RSP-7 (single-family residential): state law allows ADUs where homes are allowed.
- SB 9: two homes on the lotLikely eligible
Zoned RSP-7, a single-family residential zone.
- SB 9: split into two lotsLikely eligible
Zoned RSP-7, a single-family residential zone. The lot is 5,489 sq ft by the assessor, room for two lots of at least 1,200 sq ft, each at least 40% of the original.
Mapped Hazard Zones on This Lot
- CAL FIRE Fire Hazard Severity Zone
- High Fire Hazard Severity Zone (State Responsibility Area) (all of the lot, map Apr 1, 2024)
- FEMA National Flood Hazard Layer
- Zone X: minimal flood hazard (all of the lot) · FIRM panel 06041C0468F, effective March 16, 2016
- CGS Alquist-Priolo Earthquake Fault Zone
- Not in an Alquist-Priolo Earthquake Fault Zone
Surrounding Rent & Value Benchmarks (Public Records)
Range: $1,859,000 – $2,365,000 · Status: Off market
HUD Small Area FMR (ZIP 94941) · FY 2026
Studio $2,730 · 1BR $3,270 · 2BR $3,960 · 3BR $5,060 · 4BR $5,240
Developments Deserving Closer Investigation & Active Area Builders
- New home (Entitled)0.38 mi E
In "Entitled" for 6.3 yr (since Aug 11, 2020), exceeding the 253d median and 686d 90th percentile for new single-family home permits in Unincorporated Marin (n=121). High-impact scale (1 housing unit, 1 deed-restricted affordable across 0 permits).
- New home at 420 Laverne Ave (Issued)0.31 mi E
Active in "Issued" for 8.6 yr (first record Apr 23, 2018) with no new permit activity recorded in 3.8 yr. High-impact scale (1 housing unit, $1,100,000 declared valuation across 1 permit).
- Accessory dwelling unit at 408 Laverne Ave (adu 408a) (Issued)0.34 mi E
Active in "Issued" for 2.3 yr (first record Jul 12, 2024) with no new permit activity recorded in 14 mo. High-impact scale (1 housing unit, $2,700,000 declared valuation across 1 permit).
- New home at 409 Montford Ave (Issued)0.35 mi E
Active in "Issued" for 12.4 yr (first record Jun 17, 2014) with no new permit activity recorded in 12.1 yr. High-impact scale (1 housing unit, $1,100,000 declared valuation across 2 permits).
Entity-resolved builders & contractors in ½ mile: Tech Air (1 on parcel, 1 in ½ mi · HVAC / heat pump); Ace Roofing East Bay (1 on parcel, 1 in ½ mi · Roof replacement); Owner Builder (30 in ½ mi · Remodel / interior alteration); Owner (14 in ½ mi · Remodel / interior alteration); Buck Oneill Builders (3 in ½ mi · Remodel / interior alteration).
Permit & Project History on This Parcel (2 permits, 0 grouped projects)
| Record # | Category | Status | Applied / Issued | Valuation | Description |
|---|---|---|---|---|---|
| B44318 | HVAC / heat pump | Issued | Iss. Oct 12, 2025 | $22,000 | Install Ductless mini split system — Mechanical Appliance |
| B35689 | Roof replacement | Issued | Iss. Oct 6, 2023 | $13,000 | Remove modified bitumen roof and install new class A modified bitumen roof — ReRoofing |