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This page contains aggregated information about each property, and is not intended to serve as an appraisal. Projections for accumulated wealth, cash flow and equity are based on predictive models used to analyze big data on more than 110 million homes. Learn more about INVESTimate

2300 Hanover St Palo Alto, CA 94306

3 Beds 2 Baths 1,575 sqft Built 1938
Last updated:  Dec 26, 2019

INVESTimate

$2,610,155

$2.22M - $3.00M

Price Est.

$5,782

$5.2K - $6.4K

Rent Est.

$2,911,889  ( +11.56%)   1 YR EST. FORECAST
  
  
  

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2300 Hanover St PROPERTY INFO

FACTS
  • Built In 1938
  • Price/Sqft : $1,657.24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,575 sqft
  • Baths : 2 Full

2300 Hanover St SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
ESCONDIDO ELEMENTARY SCHOOL Primary Regular 576 29 10
DAVID STARR JORDAN MIDDLE SCHOOL Middle Regular 1,012 62 10
PALO ALTO HIGH SCHOOL High Regular 1,887 104 10

ESCONDIDO ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 576
  • # of teachers: 29
10
GreatSchools Rating

DAVID STARR JORDAN MIDDLE SCHOOL

  • Education Level: Middle
  • # of students: 1,012
  • # of teachers: 62
10
GreatSchools Rating

PALO ALTO HIGH SCHOOL

  • Education Level: High
  • # of students: 1,887
  • # of teachers: 104
10
GreatSchools Rating
 

Financial Details

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Neighborhood

College Terrace

  • 1,886

    POPULATION
  • 834

    HOUSEHOLDS
  • 95.7%

    WHITE COLLAR

Neighborhood : College Terrace

HOUSEHOLDS
834
POPULATION

1,886

70.5%Renters
29.5%Home Owners
LABOR FORCE

 

95.7%White Collar
4.3%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 100% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $5,782 per month.

MY RENT : $5,782 MEDIAN RENT : $5,105

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 0.0%
>=$1,500 100.0%
Household Rent Affordability

According to U.S. Department of Housing and Urban Development, families that use more than 30% of their income to pay for housing are considered cost burdened. A target rent of $5,782 would therefore be considered affordable for annual household incomes greater than $231,280 (12 months x 3.333 x $5,782).

Rent % Affordability
Above $500 90.1%
Above $700 90.1%
Above $1,100 85.0%
Above $1,500 81.7%
Above $1,900 69.8%
HOUSEHOLD INCOME RANGE

Approximately 38 of households in this neighborhood have a total annual income of $231,280 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $5,782 per month.

MINIMUM INCOME RANGE : $231,280

Income % Distribution
<$20K 9.9%
$20K-$35K 3.2%
$35K-$60K 5.1%
$60K-$100K 21.5%
>=$100K 60.2%
COMMUTE TIME DISTRIBUTION

66% of the working population has a commute time of 15 to 44 minutes, 24% has a commute time of 14 minutes or less and 10% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 0.9%
5-9 mins 4.8%
10-14 mins 18.6%
15-19 mins 18.0%
20-29 mins 30.3%
30-44 mins 17.7%
45-59 mins 7.9%
>60 mins 1.7%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 100% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $5,782 per month.

MY RENT : $5,782 MEDIAN RENT : $5,105

Rent % Distribution
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 0.0%
>=$1,500 100.0%
Household Rent Affordability

According to U.S. Department of Housing and Urban Development, families that use more than 30% of their income to pay for housing are considered cost burdened. A target rent of $5,782 would therefore be considered affordable for annual household incomes greater than $231,280 (12 months x 3.333 x $5,782).

Rent % Affordability
Above $500 90.1%
Above $700 90.1%
Above $1,100 85.0%
Above $1,500 81.7%
Above $1,900 69.8%
HOUSEHOLD INCOME RANGE

Approximately 38 of households in this neighborhood have a total annual income of $231,280 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $5,782 per month.

MINIMUM INCOME RANGE : $231,280

Income % Distribution
<$20K 9.9%
$20K-$35K 3.2%
$35K-$60K 5.1%
$60K-$100K 21.5%
>=$100K 60.2%
COMMUTE TIME DISTRIBUTION

66% of the working population has a commute time of 15 to 44 minutes, 24% has a commute time of 14 minutes or less and 10% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 0.9%
5-9 mins 4.8%
10-14 mins 18.6%
15-19 mins 18.0%
20-29 mins 30.3%
30-44 mins 17.7%
45-59 mins 7.9%
>60 mins 1.7%

College Terrace Demographics

INDUSTRY

Industry % Distribution
Construction 5.5%
Educational Services 22.7%
Health Care & Social Assistance 13.4%
Information 7.2%
Manufacturing 11.7%
Professional & Scientific Tech Services 22.8%
Other 16.6%
AGE DISTRIBUTION

62% of the population is between the ages of 25 and 64, 29% is 24 or younger and 9% is 65 or older.

Age % Distribution
<15 23.2%
15-19 3.3%
20-24 2.5%
25-44 39.1%
45-65 23.0%
66+ 8.9%
OCCUPATION

Occupation % Distribution
Adesm 6.0%
Computer Engineering 15.2%
Construction 17.6%
Healthcare 7.4%
Management, Business, & Financial 37.7%
Sales & Office 7.4%
Other 8.7%
HIGHEST EDUCATION LEVEL

67% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 6.6%
Doctorate 19.5%
Masters Degree 35.7%
Professional 5.3%
Some College 7.3%
Other 25.6%

2300 Hanover St Comps

Sorry, we do not have sufficient data available.

2300 Hanover St, Palo Alto, CA 94306 is a single family home of 1,575 sqft. HomeUnion INVESTimateĀ® for 2300 Hanover St includes a Price Estimate of $2,610,155 and a Rent Estimate of $5,782. This single family home has 3 bedrooms,2 bathrooms, and was built in 1938. This property has an estimated 15 year annualized Yield of 2.66% and Total Return of 22.31%. The estimated 1 year forecast in home value for 2300 Hanover St is 11.56%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in CA , SANTA CLARA County , or the 94306 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

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