We propose a modified color-magnitude diagram for novae in outburst, i.e., (B − V ) 0 versus (M V − 2.5 log f s ), where f s is the timescaling factor of a (target) nova against a comparison (template) nova, (B − V ) 0 is the intrinsic B − V color, and M V is the absolute V magnitude. We dub it the timestretched color-magnitude diagram. We carefully reanalyzed 20 novae based on the time-stretching method and revised their extinctionsand timescaling factors f s against the template nova LV Vul. We have found that these 20 nova outburst tracks broadly follow one of the two template tracks, LV Vul/V1668 Cyg or V1500 Cyg/V1974 Cyg group, in the time-stretched color-magnitude diagram. In addition, we estimate the white dwarf masses and (m − M ) V of the novae by directly fitting the absolute V model light curves (M V ) with observational apparent V magnitudes (m V ). A good agreement in the two estimates of (m − M ) V confirms the consistency of the time-stretched color-magnitude diagram. Our distance estimates are in good agreement with the results of Gaia Data Release 2.