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2569 Annapolis St East Palo Alto, CA 94303

3 Beds 1 Baths 1,010 sqft Built 1951

INVESTimate

$899,888

List Price

$3,450

$3,200 - $3,700

Rent Est.

$992,936  ( +10.34%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1951
  • Price/Sqft : $890.98
  • 2 Days on Market
  • MLS # : ML81807628
  • Updated Date : 08/26/2020 at 01:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,010 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Realty-silicon Valley

Listing Agent's Description

Beautifully remodeled single-story home with designer features in highly desirable location! *Laminate flooring throughout *Gorgeous kitchen boasts brand new high-end stainless steel appliances *Shaker style kitchen cabinets with soft close drawers *Marble countertops *Bright and airy living room filled with tons of natural light *Cozy fireplace and recessed lights in living room *Updated hallway bathroom features gorgeous sink and framed vanity mirror *Shower over tub with marble tile surround *Linen closet in hallway *Large backyard patio, perfect for relaxation *Walking distance to Jack Farrell Park, East Palo Alto Library, Pal Market & La Estrellita Market *Short drive to Amazon, Facebook, Google, Stanford University & Medical Center *Easy access to Hwy 109, Hwy 101 and Dumbarton Bridge *Close to exciting amenities of downtown Palo Alto and Menlo Park, recreation and shopping. Must see!

SEE MORE

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
 

$809,899$989,877$899,888

PURCHASE PRICE

$3,105$3,795$3,450

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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 $3,450
EXPENSES Loan Payment -$3,320
Property Tax -$1,015
Property Insurance -$52
Property Management Fees -$135
CASH FLOW
-$1,071

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.

$899,888

PROJECTED PRICE

$3,450

PROJECTED RENT

0.38%

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$244,220

INVESTMENT

$244,220

Down Payment
$224,972
Rehab Estimate
$5,750
Closing Costs
$13,498

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,320

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,972
Loan Amount $674,916
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$5,156

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
  • $3,788

    COMP ESTIMATED VALUE
  • $3.75

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,8703$3,9504$4,8005$5,000
$5,000
RENT COMPS ANALYSIS
  • 2569 Annapolis St East Palo Alto, 1
    • 3 beds 1 baths ∙ 1,010 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,010 Sqft ∙ Built 1951
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • Bell St East Palo Alto, 2
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1949
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,870
    • $3.87
    •  
  • 1936 Pulgas Ave East Palo Alto, 3
    • 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1950
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $3.53
    •  
  • 307 Haight St Menlo Park, 4
    • 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1946
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $3.69
    •  
  • 260 Hedge Rd Menlo Park, 5
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1947
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $3.91
    •  
PROPERTY LISTING DETAILS
Coco Tan
Keller Williams Realty-silicon Valley
BESbswy