519 Webster · Palo Alto, CA 94301

$6,495,000

3 bd · 4.0 ba · 4,441 sqft · Townhouse public records · 25 Days on market

Built 2019 $1463/sqft · 8% below area Est $8793k · 26% under

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Schools +7.4/10.0
• Appreciation +5.5/10.0
• Rent growth +4.3/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Downtown Palo Alto's most exclusive & high-end Penthouse now available for sale. Live among the birds on the 3rd & 4th floor living spaces and expansive roof deck with ultimate privacy and unparalleled natural light in every direction. Enter your private vestibule on the main floor and head up to your exclusive retreat via elevator. Elevator opens directly into penthouse foyer. Features stunning great room with 10' ceilings & nana door/walls of glass that fold open to the west. High-end chefs kitchens with custom cabinetry & Thermador appliances. Palo Altos most exclusive and private roof terrace is roughly 1,900sf and accessed through an interior atrium, a space unlike any other outdoor living space in all of downtown Palo Alto. Sizable and elegant alike, the roof deck includes a fire pit with several different living & dining spaces and views of the Palo Alto skyline and western hills. Primary suite with spa-like bath, two other bedrooms with en-suite bathrooms, plus a board room/office/gym with half bath. Oversized, private 2 car garage with EV charging. 2 Parcels off University Ave in the heart of vibrant, sought after downtown Palo Alto makes this Penthouse living a once in a generation opportunity.

Key facts

• Custom cabinetry
• Private roof terrace
• Thermador appliances

Tags

• PRIVATE VESTIBULE
• ELEVATOR OPENS DIRECTLY
• HIGH-END CHEFS KITCHENS
• CUSTOM CABINETRY
• THERMADOR APPLIANCES
• PRIVATE ROOF TERRACE

Property features AI

Finance

• HOA & community: Common interest development

Exterior

• Parking: Detached 2-car garage with gate/door opener; Electric vehicle Level 1 (120V) hookup
• Security: Fire sprinkler system; Secured garage/parking
• Utilities: Public sewer; Individual electric meters; Individual gas meters; Individual water meter (public water); Public utilities
• Home design: Common interest development; 3 stories
• Construction: Concrete slab foundation; 3-story building
• Exterior features: Tile roof; Barbecue area; Fire pit; Low-maintenance yard; Other outdoor features (see remarks)

Interior

• Kitchen: Dishwasher; Garbage disposal; Range hood; Kitchen island; Microwave; Gas range; Refrigerator
• Bedrooms: 3 bedrooms including a primary suite with walk-in closet
• Flooring: Hardwood floors
• Bathrooms: 3 full bathrooms; 2 half bathrooms; Primary bathroom with stall shower(s), marble surfaces, and double sinks
• Heating & cooling: Central forced air heating; Central forced air cooling
• Interior features: Den/Study/Office; Fireplace in living room; Elevator/Lift; Fire sprinkler system; Secured garage/parking
• Laundry & utility: Indoor laundry with washer and dryer

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath townhouse listed at $6.50M.

Deal economics

• At list price, monthly cash flow is $-38k ($-459k/yr) — negative.
• To cash-flow at today's rent, offer at most $660k (89.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $596k (90.8% below list).
• Recommended offer: $596k (90.8% below list) — sets the bar for 1% rule.
• Cap rate -0.7% vs local median 0.4% in Palo Alto — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 84/100 on livability (#19 in CA, #821 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Palo Alto Unified (urban): math 79% / reading 80% proficiency, ranked #19 of 517 in CA (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Ohlone Elementary (math 81% / reading 81%, grade A+, #54 of 1,571 statewide, top 3%, 463 students, 7% FRL); Frank S. Greene Jr. Middle (math 74% / reading 77%, grade A, #24 of 498 statewide, top 5%, 755 students, 13% FRL); Palo Alto High (math 87% / reading 87%, grade A, #21 of 1,170 statewide, top 2%, 1,992 students, 10% FRL) — zoned schools at 10% FRL track the district average.
• Market conditions: Rents rising fast (+7.4%/yr); 33 active listings in the ZIP; high-income renter base; 3,838 units permitted in Santa Clara County in 2024 (1,886 in 5+ unit buildings).

Forward outlook

• In year one you build about $106k of equity ($45k loan paydown + $61k appreciation (0.9% local appreciation)).
• Santa Clara County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$388k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($6.40M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $596,424 (90.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.09% ✗
• Cap rate: -0.75%
• Cash-on-cash: -25.14%
• DSCR: -0.12
• GRM: 90.7

CMA / ARV

• ARV (median comp): $8,793,256
• List price: $6,495,000
• Delta: 30.78%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

0.94% appreciation · 7.38% rent growth · sell at horizon

5-year hold

• IRR: -25.5%
• Equity multiple: -0.27×
• Total profit: $-2,306,843
• Equity at exit: $2,197,647

10-year hold

• IRR: -17.1%
• Equity multiple: -1.11×
• Total profit: $-3,829,901
• Equity at exit: $2,905,355

Cash invested: $1,818,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 94301

• Home prices YoY: 0.3%
• Rents YoY: 7.4%
• Active inventory: 33
• Price-to-rent: 90.7×

Monthly cashflow live

• Estimated rent: $5,964 medium
• Mortgage (P&I): −$34,060
• Tax from tax record: −$6,043 /mo · $72,521/yr
• Insurance: −$2,706
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,252
• Net cashflow: $-38,250

Break-even live

Break-even rent $54,383

Max offer price $659,797

Occupancy floor —

Sensitivity live

Price	-10% $-34,574	-5% $-36,412	+0% $-38,250	+5% $-40,089	+10% $-41,927
Rent	-10% $-38,722	-5% $-38,486	+0% $-38,250	+5% $-38,015	+10% $-37,779
Rate	-1.0pp $-34,980	-0.5pp $-36,599	base $-38,250	+0.5pp $-39,933	+1.0pp $-41,646

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $1,623,750
• Closing costs: $194,850
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $6,495,000 Active 25 DOM
2. 2026-06-18
   days on market $6,495,000 Active 22 DOM
3. 2026-06-17
   days on market $6,495,000 Active 21 DOM
4. 2026-06-16
   days on market $6,495,000 Active 20 DOM
5. 2026-06-15
   days on market $6,495,000 Active 19 DOM
6. 2026-06-13
   days on market $6,495,000 Active 17 DOM
7. 2026-06-13
   days on market $6,495,000 Active 16 DOM
8. 2026-06-09
   days on market $6,495,000 Active 13 DOM
9. 2026-06-08
   days on market $6,495,000 Active 12 DOM
10. 2026-06-07
    days on market $6,495,000 Active 11 DOM
11. 2026-06-03
    days on market $6,495,000 Active 7 DOM
12. 2026-06-02
    days on market $6,495,000 Active 6 DOM
13. 2026-06-01
    days on market $6,495,000 Active 5 DOM
14. 2026-05-31
    days on market $6,495,000 Active 4 DOM
15. 2026-03-19
    listed $12,800,000 Active 1360-char remark
16. 2026-03-19
    listed $12,800,000 Active 1360-char remark
17. 2025-06-28
    historical
18. 2025-06-28
    historical
19. 2025-06-18
    status Pending
20. 2025-06-18
    status Pending
21. 2025-03-18
    listed Active
22. 2025-03-18
    listed Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $72,521 · $6,043/mo
• Projected year-2 tax: $72,521 · $6,043/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AH · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $71,571
• − Mortgage interest: −$363,821
• − Property taxes: −$72,521
• − Insurance: −$34,300
• − Repairs & maintenance: −$5,726
• − Management: −$5,726
• − Depreciation: −$188,945
• Taxable loss: −$599,468
• Est. tax savings @ 24.0%: +$143,872
• After-tax cash flow: $-315,133/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Palo Alto Unified
• NCES district ID: 0629610
• Math proficiency: 79% ▼ -2.00%
• Reading proficiency: 80% ▼ -1.00%
• Median HH income: $124,038
• Composite: 74.33/100
• National rank: #161
• State rank: #19 of 517 in CA

Livability — Palo Alto

• Score: 84/100
• State rank: #19
• US rank: #821

Category grades

Amenities A+ Commute A+ Cost of living F Crime C Employment A+ Housing C Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palo Alto, CA
• County: Santa Clara County · 1,806,974 people
• City population: 44,691
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• Population (ZIP): 17,508
• Household income: $242,006
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 609.0

Population outlook (Santa Clara County) Hauer SSP2

• Today (2025): 2,179,074 people
• By 2030: 2,301,297 · +5.6%
• By 2040: 2,528,195 · +16.0%
• By 2050: 2,712,135 · +24.5%
• By 2075: 2,998,701 · +37.6%
• By 2100: 2,931,429 · +34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 58% Asian 26% Two or more races 11% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Romanian 3% Scotch-Irish 3% Lithuanian 3%
• Foreign-born: 32% · China, Canada, South Korea
• Languages at home: 70% English-only · Chinese 8% Other Indo-European 6% Spanish 5%

Political lean MEDSL · Santa Clara

• 2024 margin: Solid D (+40.0) · D 68.1% · R 28.1% · Other 3.8%
• 2008→2024 swing: -0.9pp no change · 2008: 40.9pp · 2024: 40.0pp
• All cycles: 2024: D+40.0 2020: D+47.4 2016: D+52.5 2012: D+42.1 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.94%
• Current HPI: 339.4966
• Rent YoY: ▲ 7.38%
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+0.0% since first listed

11 events — show timeline

• 2026-05-27 Listed $6,495,000 MLSListings
• 2026-05-27 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-27 Listed $6,495,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-22 Price Changed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-03-19 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-06-28 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-06-28 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-06-18 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-06-18 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-03-18 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-03-18 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

+103.2%/yr

Latest (2025): $72,521 · +4.3% YoY. Source: county tax records.