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Paul Robeson Ct East Palo Alto, CA 94303

3 Beds 3 Baths 1,500 sqft Built 1988

$1,159,000

List Price

$4,640

$4.4K - $4.9K

Rent Est.

PROPERTY INFO

December 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $772.67
  • 2 Days on Market
  • MLS # : ML81824071
  • Updated Date : 12/26/2020 at 18:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kelly Germa, Broker

Listing Agent's Description

Spacious well-maintained 3 bedroom/2 1/2 bath home very convenient to many incredible parks, shops, and restaurants! Corner lot on quiet private street. Updated appliances, new furnace, and water heater. Attached 2-car garage with good street parking. Back yard has large deck for family entertaining. New sprinklers in front yard. Easy access to highways to Google, Facebook, Amazon, Stanford, and many Silicon Valley companies. Will not last long! Great location.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: 4 Corners

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $307k1220k

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

Neighborhood: 4 Corners

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21600180020002200240026002800300032003400360038004000Rent in $14374090

* 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
 

$1,043,100$1,274,900$1,159,000

PURCHASE PRICE

$4,176$5,104$4,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,640
EXPENSES Loan Payment -$4,276
Property Tax -$1,283
Property Insurance -$63
HOA -$110
Property Management Fees -$181
CASH FLOW
-$1,273

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.

$1,159,000

PROJECTED PRICE

$4,640

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
Length of Stay Years 2

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$4.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$312,885

INVESTMENT

$312,885

Down Payment
$289,750
Rehab Estimate
$5,750
Closing Costs
$17,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,276

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $289,750
Loan Amount $869,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$9,803

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
  • $5,535

    COMP ESTIMATED VALUE
  • $3.69

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,7503$4,8004$6,000
$6,000
RENT COMPS ANALYSIS
  • Paul Robeson Ct East Palo Alto, CA 1
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 507 Channing Ave Palo Alto, CA 2
    • 3 beds 3 baths ∙ 1,183 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,183 Sqft ∙ Built 1974
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $4.02
    •  
  • 135 Okeefe St 4 Menlo Park, CA 3
    • 3 beds 3 baths ∙ 1,429 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,429 Sqft ∙ Built 1983
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $3.36
    •  
  • 490 Fulton St Palo Alto, CA 4
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1973
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,000
    • $3.69
    •  
PROPERTY LISTING DETAILS
Kelly Germa
Kelly Germa, Broker
BESbswy