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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.

87 Morton Way Palo Alto, CA 94303

4 Beds 3 Baths 2,307 sqft Built 2015
Last updated:  Dec 26, 2019

INVESTimate

$2,298,508

$1.95M - $2.64M

Price Est.

$9,003

$8.1K - $9.9K

Rent Est.

$2,536,174  ( +10.34%)   1 YR EST. FORECAST

87 Morton Way PROPERTY INFO

FACTS
  • Built In 2015
  • Price/Sqft : $996.32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,307 sqft
  • Baths : 3 Full
PROPERTY DESCRIPTION
87 Morton Way, Palo Alto, CA 94303 is a single family home of 2,307 sqft. HomeUnion estimate for 87 Morton Way includes a Price Estimate of $2,298,508 and a Rent Estimate of $9,003. This single family home has 4 bedrooms, 3 bathrooms, and was built in 2015. This property has an estimated 15 year annualized Yield of 4.70% and Total Return of 27.77%. The estimated 1 year forecast in home value for 87 Morton Way is 10.34%.
  
  
  

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87 Morton 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

Triple El

  • 665

    POPULATION
  • 204

    HOUSEHOLDS
  • 93.6%

    WHITE COLLAR

Neighborhood : Triple El

HOUSEHOLDS
204
POPULATION

665

18.4%Renters
81.6%Home Owners
LABOR FORCE

 

93.6%White Collar
6.4%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 $9,003 per month.

MY RENT : $9,003 MEDIAN RENT : $6,346

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 $9,003 would therefore be considered affordable for annual household incomes greater than $360,120 (12 months x 3.333 x $9,003).

Rent % Affordability
Above $500 91.1%
Above $700 86.8%
Above $1,100 83.4%
Above $1,500 80.7%
Above $1,900 77.1%
HOUSEHOLD INCOME RANGE

Approximately -67 of households in this neighborhood have a total annual income of $360,120 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $9,003 per month.

MINIMUM INCOME RANGE : $360,120

Income % Distribution
<$20K 8.9%
$20K-$35K 5.9%
$35K-$60K 4.5%
$60K-$100K 5.4%
>=$100K 75.2%
COMMUTE TIME DISTRIBUTION

58% of the working population has a commute time of 15 to 44 minutes, 24% has a commute time of 14 minutes or less and 19% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 0.4%
5-9 mins 4.5%
10-14 mins 18.6%
15-19 mins 17.8%
20-29 mins 28.9%
30-44 mins 11.2%
45-59 mins 5.4%
>60 mins 13.2%
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 $9,003 per month.

MY RENT : $9,003 MEDIAN RENT : $6,346

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 $9,003 would therefore be considered affordable for annual household incomes greater than $360,120 (12 months x 3.333 x $9,003).

Rent % Affordability
Above $500 91.1%
Above $700 86.8%
Above $1,100 83.4%
Above $1,500 80.7%
Above $1,900 77.1%
HOUSEHOLD INCOME RANGE

Approximately -67 of households in this neighborhood have a total annual income of $360,120 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $9,003 per month.

MINIMUM INCOME RANGE : $360,120

Income % Distribution
<$20K 8.9%
$20K-$35K 5.9%
$35K-$60K 4.5%
$60K-$100K 5.4%
>=$100K 75.2%
COMMUTE TIME DISTRIBUTION

58% of the working population has a commute time of 15 to 44 minutes, 24% has a commute time of 14 minutes or less and 19% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 0.4%
5-9 mins 4.5%
10-14 mins 18.6%
15-19 mins 17.8%
20-29 mins 28.9%
30-44 mins 11.2%
45-59 mins 5.4%
>60 mins 13.2%

Triple El Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 7.3%
Educational Services 14.5%
Health Care & Social Assistance 8.0%
Manufacturing 11.5%
Professional & Scientific Tech Services 24.0%
Retail & Wholesale Trader 13.0%
Other 21.8%
AGE DISTRIBUTION

48% of the population is between the ages of 25 and 64, 33% is 24 or younger and 19% is 65 or older.

Age % Distribution
<15 21.8%
15-19 8.9%
20-24 2.6%
25-44 16.8%
45-65 30.7%
66+ 19.2%
OCCUPATION

Occupation % Distribution
Computer Engineering 32.6%
Construction 5.9%
Legal 3.2%
Management, Business, & Financial 34.2%
Protect 2.7%
Sales & Office 12.3%
Other 9.1%
HIGHEST EDUCATION LEVEL

53% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Doctorate 16.2%
High School 5.2%
Masters Degree 29.7%
Professional 5.6%
Some College 8.6%
Other 34.7%

87 Morton 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

Nearest zipcodes within 2 miles

  1. 94301
  2. 94306
  3. 94025
  4. 94305