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1685 Purdue Ave East Palo Alto, CA 94303

3 Beds 2 Baths 1,340 sqft Built 1953

INVESTimate

$939,000

List Price

$4,350

$4,100 - $4,600

Rent Est.

$254,585

Investment Est.

$1,036,093  ( +10.34%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1953
  • Price/Sqft : $700.75
  • 3 Days on Market
  • MLS # : ML81807495
  • Updated Date : 08/25/2020 at 14:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,340 sqft
  • Baths : 2 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Home is where the Bargain is! Lovely rancher style home in a extra large corner lot and close to Facebook Campus. Nice floor plan with All three bedroom had additional square footage done with permits, Spacious and bright kitchen and Cozy living room with fire place and ceramic floors, double paned windows and updated bathrooms.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: University Village

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $262k1220k

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

Neighborhood: University Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21400160018002000220024002600280030003200340036003800Rent in $12883804

* 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
Costano - 49er Academy Primary Regular 564 24 2
Costano - 49er Academy Middle Regular 564 24 2
Menlo-atherton High School High Regular 2,158 112 8

Costano - 49er Academy

  • Education Level: Primary
  • # of students: 564
  • # of teachers: 24
2
GreatSchools Rating

Costano - 49er Academy

  • Education Level: Middle
  • # of students: 564
  • # of teachers: 24
2
GreatSchools Rating

Menlo-atherton High School

  • Education Level: High
  • # of students: 2,158
  • # of teachers: 112
8
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$845,100$1,032,900$939,000

PURCHASE PRICE

$3,915$4,785$4,350

RENT

DOWN PAYMENT
FINANCING
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PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow

  • Appreciation

  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation

  • Principal

  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,350
EXPENSES Loan Payment -$3,464
Property Tax -$1,080
Property Insurance -$60
Property Management Fees -$170
CASH FLOW
-$423

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$939,000

PROJECTED PRICE

$4,350

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 10.34%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$254,585

INVESTMENT

$254,585

Down Payment		 $234,750
Rehab Estimate		 $5,750
Closing Costs		 $14,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,464

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $234,750
Loan Amount $704,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$45,519

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,350

    LIST RENT

  • $3.25

    LIST RENT PER SQFT

  • $5,079

    COMP ESTIMATED VALUE

  • $3.79

    COMP AVG. RENT PER SQFT
Comps Range
$3,950
1$3,9502$4,3503$4,8004$4,975
$4,975
RENT COMPS ANALYSIS
  • 1685 Purdue Ave East Palo Alto, 2
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $4,350
    • $3.25
    •  
  • 1936 Pulgas Ave East Palo Alto, 1
    • 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1950
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $3.53
    •  
  • 307 Haight St Menlo Park, 3
    • 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1946
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $3.69
    •  
  • 1239 Madera Ave Menlo Park, 4
    • 3 beds 3 baths ∙ 1,200 Sqft ∙ Built 1948 3 beds 3 baths ∙ 1,200 Sqft ∙ Built 1948
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,975
    • $4.15
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Hugo De Hoyos
Intero Real Estate Services

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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