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This page contains information about each property aggregated from public data sources, 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.

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This page contains information about each property aggregated from public data sources, 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.

280 Iris Way Palo Alto, CA 94303

3 Beds 1 Baths 1,093 sqft Built 1948
Last updated:  Dec 26, 2019

INVESTimate

$3,524,308

$3.00M - $4.05M

Price Est.

$4,889

$4.4K - $5.3K

Rent Est.

$3,963,437  ( +12.46%)   1 YR EST. FORECAST

280 Iris Way PROPERTY INFO

FACTS
  • Built In 1948
  • Price/Sqft : $3,224.44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,093 sqft
  • Baths : 1 Full
PROPERTY DESCRIPTION
280 Iris Way, Palo Alto, CA 94303 is a single family home of 1,093 sqft. HomeUnion estimate for 280 Iris Way includes a Price Estimate of $3,524,308 and a Rent Estimate of $4,889. This single family home has 3 bedrooms, 1 bathrooms, and was built in 1948. This property has an estimated 15 year annualized Yield of 1.66% and Total Return of 22.73%. The estimated 1 year forecast in home value for 280 Iris Way is 12.46%.
  
  
  

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280 Iris Way SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
DUVENECK ELEMENTARY SCHOOL Primary Regular 502 25 10
DAVID STARR JORDAN MIDDLE SCHOOL Middle Regular 1,012 62 10
PALO ALTO HIGH SCHOOL High Regular 1,887 104 10

DUVENECK ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 502
  • # of teachers: 25
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

Duveneck - St. Francis

  • 3,538

    POPULATION
  • 1,196

    HOUSEHOLDS
  • 97.4%

    WHITE COLLAR

Neighborhood : Duveneck - St. Francis

HOUSEHOLDS
1,196
POPULATION

3,538

15.9%Renters
84.1%Home Owners
LABOR FORCE

 

97.4%White Collar
2.6%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 $4,889 per month.

MY RENT : $4,889 MEDIAN RENT : $6,609

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 $4,889 would therefore be considered affordable for annual household incomes greater than $195,560 (12 months x 3.333 x $4,889).

Rent % Affordability
Above $500 90.5%
Above $700 86.7%
Above $1,100 81.6%
Above $1,500 79.1%
Above $1,900 77.5%
HOUSEHOLD INCOME RANGE

Approximately 185 of households in this neighborhood have a total annual income of $195,560 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $4,889 per month.

MINIMUM INCOME RANGE : $195,560

Income % Distribution
<$20K 9.5%
$20K-$35K 5.0%
$35K-$60K 6.4%
$60K-$100K 8.0%
>=$100K 71.1%
COMMUTE TIME DISTRIBUTION

59% of the working population has a commute time of 15 to 44 minutes, 29% has a commute time of 14 minutes or less and 12% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 1.6%
5-9 mins 11.2%
10-14 mins 16.2%
15-19 mins 14.0%
20-29 mins 25.6%
30-44 mins 19.5%
45-59 mins 3.0%
>60 mins 8.9%
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 $4,889 per month.

MY RENT : $4,889 MEDIAN RENT : $6,609

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 $4,889 would therefore be considered affordable for annual household incomes greater than $195,560 (12 months x 3.333 x $4,889).

Rent % Affordability
Above $500 90.5%
Above $700 86.7%
Above $1,100 81.6%
Above $1,500 79.1%
Above $1,900 77.5%
HOUSEHOLD INCOME RANGE

Approximately 185 of households in this neighborhood have a total annual income of $195,560 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $4,889 per month.

MINIMUM INCOME RANGE : $195,560

Income % Distribution
<$20K 9.5%
$20K-$35K 5.0%
$35K-$60K 6.4%
$60K-$100K 8.0%
>=$100K 71.1%
COMMUTE TIME DISTRIBUTION

59% of the working population has a commute time of 15 to 44 minutes, 29% has a commute time of 14 minutes or less and 12% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 1.6%
5-9 mins 11.2%
10-14 mins 16.2%
15-19 mins 14.0%
20-29 mins 25.6%
30-44 mins 19.5%
45-59 mins 3.0%
>60 mins 8.9%

Duveneck - St. Francis Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 5.0%
Educational Services 12.9%
Health Care & Social Assistance 11.4%
Information 10.6%
Manufacturing 14.1%
Professional & Scientific Tech Services 29.9%
Other 16.1%
AGE DISTRIBUTION

50% of the population is between the ages of 25 and 64, 33% is 24 or younger and 17% is 65 or older.

Age % Distribution
<15 22.0%
15-19 7.1%
20-24 3.8%
25-44 21.0%
45-65 29.3%
66+ 16.8%
OCCUPATION

Occupation % Distribution
Adesm 4.8%
Computer Engineering 32.5%
Construction 3.9%
Healthcare 6.8%
Management, Business, & Financial 38.7%
Sales & Office 6.3%
Other 7.0%
HIGHEST EDUCATION LEVEL

59% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 3.9%
Doctorate 14.8%
Masters Degree 30.4%
Professional 9.6%
Some College 7.2%
Other 34.1%

280 Iris Way Comps

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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 94303 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

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