1117 Palm Dr
Burlingame, CA 94010
INVESTIGATE
Price
$2,895,000
Beds
4
Baths
3
Sq Ft
2,006
Year
1916
Days Listed
1
◆ Executive Summary
Overall: INVESTIGATE — this $2.9M Burlingame property shows a catastrophic 36% price explosion ($770K markup) in just 9 months from July 2025 to April 2026, with zero building permits found despite extensive "gut renovation" claims. While some experts noted the strong location fundamentals and quality renovation appearance, the overwhelming consensus identified major red flags around the massive flip markup and lack of permit documentation for claimed structural work. The combination of premium Burlingame location with excellent schools versus concerning flip economics and potential unpermitted work on a 110-year-old Craftsman demands thorough investigation before proceeding.
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1117 Palm Dr, Burlingame, CA, 94010 home INVESTIGATE Catastrophic Price Explosion Red Flag Missing Critical System Information Estimated Cap Rate Disaster 36% Price Explosion in 9 Months
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▲ Top Findings
Catastrophic Price Explosion Red Flag
Property sold for $2,125,000 in July 2025 and relisted 9 months later for $2,895,000 - a 36% markup ($770,000 gain). Despite extensive renovation claims, no permits found to substantiate the scope of work described.
Missing Critical System Information
Zero technical details provided for heating, cooling, roof type, foundation, or flooring despite claiming major systems upgrades. No permit history available to verify electrical, plumbing, or HVAC work.
Estimated Cap Rate Disaster
With $70,800 annual rent and estimated $50,000+ expenses (property tax, insurance, maintenance on $2.9M Burlingame property), net operating income around $20,800 yields 0.7% cap rate—far below investment threshold.
36% Price Explosion in 9 Months
Property sold for $2.125M in July 2025 and is now listed for $2.895M—a $770K increase in just 9 months. While the listing claims a down-to-studs renovation, no permits are visible in public records to justify this massive markup.
Catastrophic Flip Red Flag
Property sold July 2025 for $2.125M and relisted April 2026 for $2.895M—a $770K markup (36%) in just 9 months. Claims total gut renovation 'down to studs' with new everything, but zero building permits found despite major structural work that would require permits.
Overpriced vs Market Comps×4
At $1,443/sqft, this property commands a significant premium over recent area sales ranging $1,100-1,900/sqft. The $2,895,000 ask exceeds most nearby comps despite similar bedroom count. **Also flagged:** Zestimate Discrepancy Signal Listed $237,000 below Zestimate ($2,895K vs $3,132K), which is unusual for a renovated flip. Either the algorithm hasn't adjusted for recent sale or listing price reflects hidden issues. **Also flagged:** Overpriced vs Market Signals Listed $237,000 below Zestimate but still appears overpriced given comparable sales context. The $1,443/sqft is aggressive for a flip property with unverified renovation quality. **Also flagged:** Below-Market Pricing vs Zestimate Listed at $2,895,000 vs $3,132,000 Zestimate suggests 7.6% discount. Combined with the recent flip timeline, this could signal either realistic pricing after an overambitious renovation or underlying issues the seller knows about.
Flip Timeline Pressure Point
Only 9 months between purchase and relist suggests rushed renovation timeline. Quality work on claimed scope (down to studs, all systems) typically requires 12-18 months for proper execution and permitting.
Expert Panel (10/10)
Rapid $770K flip with questionable value-add claims and insufficient renovation evidence raises major red flags.
Catastrophic Price Explosion Red Flag
Property sold for $2,125,000 in July 2025 and relisted 9 months later for $2,895,000 - a 36% markup ($770,000 gain). Despite extensive renovation claims, no permits found to substantiate the scope of work described.
Missing Critical System Information
Zero technical details provided for heating, cooling, roof type, foundation, or flooring despite claiming major systems upgrades. No permit history available to verify electrical, plumbing, or HVAC work.
Overpriced vs Market Comps
At $1,443/sqft, this property commands a significant premium over recent area sales ranging $1,100-1,900/sqft. The $2,895,000 ask exceeds most nearby comps despite similar bedroom count.
Zestimate Discrepancy Signal
Listed $237,000 below Zestimate ($2,895K vs $3,132K), which is unusual for a renovated flip. Either the algorithm hasn't adjusted for recent sale or listing price reflects hidden issues.
Age-Related Infrastructure Risk
Built in 1916 (110 years old), this property requires significant ongoing maintenance despite renovation claims. Foundation, electrical, and plumbing systems in century-old homes often need continuous attention.
Massive flip markup with zero permit documentation for claimed gut renovation in premium Burlingame market.
Catastrophic Price Explosion Red Flag
Property sold for $2,125,000 in July 2025 and relisted 9 months later for $2,895,000 — a 36% markup ($770,000 profit attempt). This is a classic flip scenario with astronomical markup that screams desperation or greed.
Missing Critical System Information
Despite claiming extensive renovations including new plumbing, electrical, HVAC, and roof, zero permit records are available. For a claimed 'down to the studs' renovation, this is a massive red flag suggesting unpermitted work.
Flip Timeline Pressure Point
Only 9 months between purchase and relist suggests rushed renovation timeline. Quality work on claimed scope (down to studs, all systems) typically requires 12-18 months for proper execution and permitting.
Overpriced vs Market Signals
Listed $237,000 below Zestimate but still appears overpriced given comparable sales context. The $1,443/sqft is aggressive for a flip property with unverified renovation quality.
Pricey flip with massive 9-month markup but solid fundamentals in prime Burlingame location.
Catastrophic Price Explosion Red Flag
Property sold for $2,125,000 in July 2025 and relisted at $2,895,000 in April 2026—a 36.2% markup ($770,000) in just 9 months. While the listing claims full gut renovation, no permits are documented to justify this massive appreciation.
Below-Market Pricing vs Zestimate
Listed at $2,895,000 vs $3,132,000 Zestimate suggests 7.6% discount. Combined with the recent flip timeline, this could signal either realistic pricing after an overambitious renovation or underlying issues the seller knows about.
Strong Rent-to-Price Fundamentals
Rent Zestimate of $5,901/month against $2,895,000 purchase equals 2.45% annual yield, well above the 1% rule threshold. Monthly rent covers 2.04% of purchase price, indicating solid rental potential despite high basis.
Estimated Cap Rate Disaster
With $70,800 annual rent and estimated $50,000+ expenses (property tax, insurance, maintenance on $2.9M Burlingame property), net operating income around $20,800 yields 0.7% cap rate—far below investment threshold.
Premium Bay Area Location Supports Valuation
Burlingame location with excellent schools (high school rated 10/10) and $1,443/sf price reasonable for Peninsula market. Comparable sales range $1,733-$1,505/sf, putting this property competitively positioned despite recent markup.
Missing Critical System Information
No data on HVAC systems, foundation type, or structural details despite 1916 construction and claimed full renovation. For a $2.9M purchase with extensive rehab claims, buyers need verification of all major systems and structural integrity.
Stunning renovation but massive recent price jump raises serious concerns about flipping profit margins.
36% Price Explosion in 9 Months
Property sold for $2.125M in July 2025 and is now listed for $2.895M—a $770K increase in just 9 months. While the listing claims a down-to-studs renovation, no permits are visible in public records to justify this massive markup.
Missing Renovation Documentation
The listing describes extensive work (new plumbing, electrical, windows, roof, HVAC) but research found no building permits in the last 10 years. Major renovations typically require permits, especially electrical and plumbing work.
Excellent School District Premium
The home sits in an outstanding school zone with Burlingame High rated 10/10 and intermediate school at 9/10. This adds significant value and resale appeal for families, justifying some of the high price per square foot.
Priced Below Zestimate Sweet Spot
At $2.895M vs $3.132M Zestimate, the property shows a 7.6% discount which could indicate genuine value or seller motivation. This gap partially offsets concerns about the rapid price increase.
110-Year-Old Home Complexity
Despite claimed renovations, buying a 1916 home means potential surprises with foundation, framing, or systems that weren't fully upgraded. Even quality renovations can miss hidden issues in century-old properties.
1916 Craftsman flip shows massive 36% markup in 9 months with zero permit verification for claimed gut renovation.
Catastrophic Flip Red Flag
Property sold July 2025 for $2.125M and relisted April 2026 for $2.895M—a $770K markup (36%) in just 9 months. Claims total gut renovation 'down to studs' with new everything, but zero building permits found despite major structural work that would require permits.
Missing Critical System Information
Zero technical details provided for HVAC, electrical panel type, plumbing materials, foundation condition, or roof specifics beyond marketing claims. For a 110-year-old home claiming total renovation, this lack of system documentation is unacceptable.
Century-Old Home Hidden Hazards
1916 construction means guaranteed lead paint, likely asbestos in original materials, possible knob-and-tube electrical remnants, and potential foundation settling issues. Claims of renovation 'down to studs' require environmental testing verification and structural engineering reports.
Unpermitted ADU Claims
Listing mentions 'potential for ADU' in garage space but disclaims 'buyer to verify.' In California, ADU conversion requires specific permits, setbacks, and inspections. Current setup may be unpermitted living space creating liability.
Priced Below Zestimate But Above Comps
Listed $237K below Zestimate ($3.132M) but comparable sales range $1.9M-$3.2M with higher square footage properties. The 36% markup from recent purchase suggests artificial inflation rather than market-driven pricing.
Well-executed full renovation with strong bones but concerning 36% price jump in 9 months needs investigation.
Major Price Jump After Recent Sale
Property sold for $2.125M in July 2025 and is now listed for $2.895M - a $770K (36%) increase in just 9 months. While the listing claims a full studs-down renovation, no permits or renovation timeline are documented to validate this substantial investment.
Comprehensive Renovation Claims
The listing describes extensive upgrades including new plumbing, electrical, windows, 50-year roof, HVAC, and full interior finishes. If genuine, this could justify significant value-add, but lack of permit documentation makes verification difficult.
Strong Layout and Flexible Living
The 4BR/3BA split-level configuration with ground-floor primary suite offers excellent functionality. The converted garage with French doors and potential ADU capability adds valuable flexible space for home office, gym, or rental income.
Attractive Pricing vs Market
Listed at $2.895M versus $3.132M Zestimate shows 7.6% discount to estimated value. Comparable sales range from $1.9M-$3.2M, positioning this property competitively within the local market range.
Missing Critical System Documentation
No information available on HVAC details, foundation condition, or specific flooring materials despite claims of comprehensive renovation. Age of home (1916) makes foundation and structural details particularly important for due diligence.
Well-positioned property in excellent school district with strong zoning stability, though recent flip raises market timing concerns.
Unexplained Price Delta After Recent Flip
Property sold for $2,125,000 in July 2025 and relisted 9 months later for $2,895,000 (+36%). While extensive renovations are claimed, no permit records verify the scope or timeline of this work.
Strong Zoning and Development Stability
Located in established Burlingame residential area with excellent schools (Burlingame High 10/10 rating). Single-family zoning typically well-protected in this affluent Peninsula community with minimal commercial encroachment risk.
Potential ADU Revenue Opportunity
Listing mentions garage space with potential for ADU conversion, which could provide rental income under California's favorable ADU policies. However, buyer verification required for actual feasibility and permits.
Peninsula Infrastructure and Transit Benefits
Burlingame's proximity to Caltrain, Highway 101, and SFO provides strong transportation infrastructure. Area benefits from Peninsula tech employment base and limited new housing supply constraints.
Well-executed flip with strong margins but 100+ year old structure poses unknown insurance risks.
Massive Appreciation Since Purchase
Property sold for $2.125M in July 2025 and relisted 9 months later for $2.895M - a 36% increase. While extensive renovations justify some premium, this represents a $770K gain on what appears to be a flip investment.
Century-Old Structure Insurance Challenges
Built in 1916, this 110-year-old home presents significant underwriting concerns despite renovations. Older homes often have higher premiums due to outdated foundation systems, potential knob-and-tube wiring remnants, and structural settlement issues that full renovations may not address.
Missing Critical System Information
No details on heating/cooling systems, roof materials, electrical panel capacity, or plumbing specifics despite claims of full renovation. These are essential for accurate insurance underwriting and premium calculation.
California Wildfire and Earthquake Exposure
Burlingame location requires earthquake insurance consideration and potential wildfire exposure given California's climate trajectory. No environmental risk assessment data available to evaluate specific zone classifications.
Renovation Claims Unverified
Extensive renovation claims including new electrical, plumbing, and 50-year roof lack permit documentation. Insurance carriers typically require proof of major system upgrades for premium credits.
Burlingame Craftsman shows concerning 36% price jump in 9 months despite claimed full renovation.
Massive Price Explosion Warning
Property sold for $2.125M in July 2025 and relisted at $2.895M in April 2026 - a 36% increase in just 9 months. While listing claims full studs-up renovation, no permits found to verify scope or timeline of work.
Missing Critical System Information
No data available on HVAC specifics, foundation type, or structural details for a 1916 property claiming major renovations. Age requires careful inspection of seismic retrofitting and foundation work.
Zero Research Documentation
No building permits, flood zone data, environmental concerns, or neighborhood context available despite extensive search. Lack of permit verification concerning for claimed major electrical, plumbing, and structural work.
Strong School District Appeal
Burlingame High School rated 10/10 with excellent intermediate school (9/10) nearby. Quality educational access supports property values and neighborhood desirability in this market.
Priced Below Market Estimate
Listed at $2.895M versus $3.132M Zestimate creates 7.6% discount opportunity. Combined with renovation claims, suggests potential value if improvements are legitimate and permitted.
Premium Burlingame location with excellent schools, but rapid 36% price flip in 9 months raises value concerns.
Rapid Price Flip Warning
Property sold for $2.125M in July 2025 and relisted at $2.895M in April 2026 - a 36% increase in just 9 months. While extensive renovations are claimed, the quick turnaround suggests potential speculative flipping.
Elite School District Access
Outstanding public schools including Burlingame High (10/10) just 0.4 miles away and strong elementary/middle options. This is a major family magnet that supports long-term property values in Silicon Valley.
Premium Peninsula Location
Burlingame offers excellent Peninsula positioning between San Francisco and Silicon Valley with strong transit access. The area maintains stable affluent demographics and limited inventory drives competition.
Priced Below Zestimate
Listed at $2.895M vs $3.132M Zestimate creates 7.6% potential upside. Combined with comparable sales in the $2.3M-$3.2M range, pricing appears competitive despite recent acquisition.
Missing Critical Research Data
No permit records found for claimed extensive renovations, plus missing crime data, flood zone info, and neighborhood trend analysis. This limits confidence in the investment thesis.