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3545 Ramona St Palo Alto, CA 94306

3 Beds 1 Baths 1,027 sqft Built 1950

$1,988,000

List Price

$3,970

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1950
  • Price/Sqft : $1,935.74
  • 7 Days on Market
  • MLS # : ML81817504
  • Updated Date : 10/30/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,027 sqft
  • Baths : 1 full
Listing Agent

Deleon Realty

Listing Agent's Description

Set on a spacious corner lot of 8,500 square feet in the desirable Midtown neighborhood, this 3-bedroom, 1-bathroom home offers bright interiors, a great backyard, and a location close to everything Palo Alto has to offer. Contemporary styling and a well-manicured front yard give this home outstanding curb appeal, while inside, new paint, walls of glass, and vaulted ceilings create a fresh, inviting atmosphere. Enjoy the expansive living room, craft delicious meals in the kitchen with stainless-steel appliances, and entertain guests with ease in the backyard with a deck and lush lawn. Just steps to Mitchell Park, this home is also within walking distance of top-ranked schools Fairmeadow Elementary and JLS Middle. Plus, you will be just a short drive to the excitement of California Avenue, The Village at San Antonio Center, and US 101 for Bay Area commuting.

SEE MORE

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: South of Midtown

NeighborhoodNIR Market*CityMarket2010Year20002019600k800k1000k1200k1400k1600k1800k2000k2200k2400k2600k2800kPrice in $411k2951k

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

Neighborhood: South of Midtown

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000250030003500400045005000550060006500Rent in $19076545

* 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
Fairmeadow Elementary School Primary Regular 548 25 9
Jane Lathrop Stanford Middle School Middle Regular 1,107 66 9
Henry M. Gunn High School High Regular 1,897 109 10

Fairmeadow Elementary School

  • Education Level: Primary
  • # of students: 548
  • # of teachers: 25
9
GreatSchools Rating

Jane Lathrop Stanford Middle School

  • Education Level: Middle
  • # of students: 1,107
  • # of teachers: 66
9
GreatSchools Rating

Henry M. Gunn High School

  • Education Level: High
  • # of students: 1,897
  • # of teachers: 109
10
GreatSchools Rating
 

$1,789,200$2,186,800$1,988,000

PURCHASE PRICE

$3,573$4,367$3,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,970
EXPENSES Loan Payment -$7,335
Property Tax -$2,052
Property Insurance -$52
Property Management Fees -$155
CASH FLOW
-$5,624

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.

$1,988,000

PROJECTED PRICE

$3,970

PROJECTED RENT

0.20%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
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-$90k-$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$532,570

INVESTMENT

$532,570

Down Payment
$497,000
Rehab Estimate
$5,750
Closing Costs
$29,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$7,335

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $497,000
Loan Amount $1,491,000
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$4,326

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
  • $3,972

    COMP ESTIMATED VALUE
  • $3.87

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,8003$4,2004$4,3005$5,267
$5,267
RENT COMPS ANALYSIS
  • 3545 Ramona St Palo Alto, CA 1
    • 3 beds 1 baths ∙ 1,027 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,027 Sqft ∙ Built 1950
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3326 Emerson St Palo Alto, CA 2
    • 3 beds 1 baths ∙ 1,027 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,027 Sqft ∙ Built 1950
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $3.70
    •  
  • 3569 Laguna Ave Palo Alto, CA 3
    • 3 beds 1 baths ∙ 1,020 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,020 Sqft ∙ Built 1950
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $4.12
    •  
  • 2470 Betlo Mountain View, CA 4
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1970
    property image
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $3.54
    •  
  • 275 Lassen Ave Mountain View, CA 5
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1955
    property image
    LEASED 05/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,267
    • $4.11
    •  
PROPERTY LISTING DETAILS
Deleon Team
Deleon Realty
BESbswy