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1376 University Ave Palo Alto, CA 94301

2 Beds 1 Baths 1,011 sqft Built 1951

$1,998,000

List Price

$4,150

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1951
  • Price/Sqft : $1,976.26
  • 17 Days on Market
  • MLS # : ML81816261
  • Updated Date : 10/31/2020 at 13:13
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,011 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

The best priced single family home in the highly coveted Crescent Park neighborhood! Private cottage on a flag lot with an exquisite garden. Two spacious bedrooms, one bath, rustic kitchen, and a detached two car garage that can be used as a Home Office or Exercise Room. Adjacent to the garage is another space that can be used as additional parking, or sealed off to be another social space. Freshly painted home with a new fence enclosing this private haven is a must see. Buyer to verify expansion possibilities with City of Palo Alto Planning Department. Parking on the north side of University Ave please. Do not miss this gem!

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MARKET HIGHLIGHTS

  • San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • San Jose metro's economy has been worth $282.2 billion in Gross Metro Product (GMP) in 2018 and is projected to grow to $298.6 billion in 2019. GMP measures the productivity of the metro. (USMayors.org, 2018)
  • San Jose metro employment growth has been at 2.2% in 2018 and predicted to grow at 1.9% in 2019 (USMayors.org, 2018)
  • San Jose metro contributes to 9% of California state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Palo Alto, Redwood City, Mountain View and San Mateo together attracted around $11 billion in venture capital funding in 2019 making Silicon Valley still attractive to technology investments (Crunchbase News, 2020)

PRICE & RENT TRENDS

Neighborhood: Crescent Park

NeighborhoodNIR Market*CityMarket2010Year20002019500k1000k1500k2000k2500k3000k3500k4000kPrice in $411k4065k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Crescent Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q220002500300035004000450050005500600065007000750080008500Rent in $19078891

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Addison Elementary School Primary Regular 463 22 7
David Starr Jordan Middle School Middle Regular 1,103 71 8
Palo Alto High School High Regular 1,943 115 10

Addison Elementary School

  • Education Level: Primary
  • # of students: 463
  • # of teachers: 22
7
GreatSchools Rating

David Starr Jordan Middle School

  • Education Level: Middle
  • # of students: 1,103
  • # of teachers: 71
8
GreatSchools Rating

Palo Alto High School

  • Education Level: High
  • # of students: 1,943
  • # of teachers: 115
10
GreatSchools Rating
 

$1,798,200$2,197,800$1,998,000

PURCHASE PRICE

$3,735$4,565$4,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,150
EXPENSES Loan Payment -$7,372
Property Tax -$2,062
Property Insurance -$52
Property Management Fees -$162
CASH FLOW
-$5,497

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$1,998,000

PROJECTED PRICE

$4,150

PROJECTED RENT

0.21%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M$7.0M

PROJECTED ANNUAL CASH FLOW

11530-$80k-$70k-$60k-$50k-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M$7.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$535,220

INVESTMENT

$535,220

Down Payment
$499,500
Rehab Estimate
$5,750
Closing Costs
$29,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$7,372

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $499,500
Loan Amount $1,498,500
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$2,085

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $4,256

    COMP ESTIMATED VALUE
  • $4.21

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1453$3,5004$4,5005$4,700
$4,700
RENT COMPS ANALYSIS
  • 1376 University Ave Palo Alto, CA 1
    • 2 beds 1 baths ∙ 1,011 Sqft ∙ Built 1951 2 beds 1 baths ∙ 1,011 Sqft ∙ Built 1951
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1358 Windermere Ave Menlo Park, CA 2
    • 2 beds 1 baths ∙ 790 Sqft ∙ Built 1955 2 beds 1 baths ∙ 790 Sqft ∙ Built 1955
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,145
    • $3.98
    •  
  • 1112 Carlton Ave Menlo Park, CA 3
    • 2 beds 1 baths ∙ 810 Sqft ∙ Built 1949 2 beds 1 baths ∙ 810 Sqft ∙ Built 1949
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $4.32
    •  
  • 315 Haight St Menlo Park, CA 4
    • 2 beds 1 baths ∙ 1,140 Sqft ∙ Built 1950 2 beds 1 baths ∙ 1,140 Sqft ∙ Built 1950
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.95
    •  
  • 755 Arnold Way Menlo Park, CA 5
    • 2 beds 1 baths ∙ 1,025 Sqft ∙ Built 1936 2 beds 1 baths ∙ 1,025 Sqft ∙ Built 1936
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $4.59
    •  
PROPERTY LISTING DETAILS
Rayyan Fani
Compass
BESbswy