2990 Thomas Grade, Morgan Hill, California 95037, Morgan Hill, - bed, bath
ACTIVE$999,000
2990 Thomas Grade, Morgan Hill, California 95037
4Beds
4Baths
3,464Sqft
22,651Lot
Year Built
1978
Close
-
List price
$999K
Original List price
$1.4M
Price/Sqft
-
HOA
$34
Days on market
-
Sold On
-
MLS number
ML82007709
Home ConditionPoor
Features
Deck
View-
About this home
Home is gutted needs to be a cash deal
Nearby schools
6/10
Nordstrom Elementary School
Public,•K-5•1.5mi
6/10
Jackson Academy Of Music And Math (Jamm)
Public,•K-8•0.4mi
5/10
Lewis H. Britton Middle School
Public,•6-8•3.3mi
5/10
Martin Murphy Middle School
Public,•6-8•10.8mi
5/10
Live Oak High School
Public,•9-12•1.9mi
Price History
Date
Event
Price
10/28/25
Price Change
$999,000-16.8%
10/07/25
Price Change
$1,200,000-14.2%
06/03/25
Listing
$1,399,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (127 Listings) | |
|---|---|---|---|
| Beds | 4 | 4 | 50% |
| Baths | 4 | 3 | 77% |
| Square foot | 3,464 | 2,294 | 84% |
| Lot Size | 22,651 | 8,895 | 81% |
| Price | $999K | $1.43M | 11% |
| Price per square foot | $288 | $666 | 1% |
| Built year | 1978 | 9950995 | 35% |
| HOA | $34 | 1% | |
| Days on market | 156 | 145 | 56% |
Condition Rating
Poor
The property, built in 1978, is explicitly described as 'gutted,' indicating that the interior has been stripped down. This means the home is currently unlivable and requires substantial repairs and rehabilitation, including the complete installation or replacement of all interior components such as the kitchen, bathrooms, flooring, electrical, and plumbing systems. The exterior image does not contradict this assessment, as a gutted interior is not visible. This condition aligns with the 'Poor' category, as it requires extensive work to make it habitable.
Pros & Cons
Pros
Substantial Price Reduction: The list price has seen significant reductions from $1.399M to $999K, offering a compelling entry point for a value-add investor.
Expansive Lot Size: A generous 22,651 sqft lot provides ample outdoor space and potential for extensive landscaping or future expansion.
Large Home Footprint: With 3,464 sqft, the property offers a substantial foundation for a custom-designed, spacious residence post-renovation.
Desirable Location: Situated in Morgan Hill, the property benefits from a sought-after community known for its quality of life and amenities.
Minimal Association Fees: A very low monthly association fee of $34.0 contributes to lower ongoing ownership costs for the property.
Cons
Major Renovation Required: The property is described as 'gutted,' necessitating a comprehensive and costly reconstruction, making it unsuitable for most buyers.
Cash Transaction Only: The requirement for a cash deal severely limits the potential buyer pool, as traditional financing is not an option due to the property's condition.
Uncertain Renovation Costs: The 'gutted' state introduces considerable financial risk due to potentially high and unpredictable renovation expenses, time, and effort.