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1023 E Palmcroft Drive Tempe, AZ 85282

5 Beds 4 Baths 3,378 sqft Built 1963

$625,000

List Price

$3,480

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $185.02
  • 2 Days on Market
  • MLS # : 6178905
  • Updated Date : 01/09/2021 at 16:39
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,378 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty Executives

Listing Agent's Description

Beautiful home located in a quiet Tempe neighborhood just a short walk from ASU and all that downtown Tempe has to offer. This home is just minutes from three major freeways and Sky Harbor Airport. The home features five bedrooms and three and half baths. The kitchen has been updated with stainless steel appliances and granite countertops. This floor plan has unique downstairs bedrooom perfect for any family type. Newer flooring throughout and a gorgeous entertaining backyard with mature landscaping and an inviting pool.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Hughes Acres

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k293k

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

Neighborhood: Hughes Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550160016501700Rent in $10001703

* 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
Hudson Elementary School Primary Regular 476 26 6
Connolly Middle School Middle Regular 1,058 57 6
Mcclintock High School High Regular 1,771 81 6

Hudson Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 26
6
GreatSchools Rating

Connolly Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 57
6
GreatSchools Rating

Mcclintock High School

  • Education Level: High
  • # of students: 1,771
  • # of teachers: 81
6
GreatSchools Rating
 

$562,500$687,500$625,000

PURCHASE PRICE

$3,132$3,828$3,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,480
EXPENSES Loan Payment -$2,171
Property Tax -$412
Property Insurance -$93
Property Management Fees -$99
CASH FLOW
$705

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$625,000

PROJECTED PRICE

$3,480

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$111,215

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
  • $3,750

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,5993$3,750
$3,750
RENT COMPS ANALYSIS
  • 1023 E Palmcroft Drive Tempe, AZ 1
    • 5 beds 4 baths ∙ 3,378 Sqft ∙ Built 1963 5 beds 4 baths ∙ 3,378 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1737 E Manhatton Drive Tempe, AZ 2
    • 5 beds 5 baths ∙ 3,131 Sqft ∙ Built 1969 5 beds 5 baths ∙ 3,131 Sqft ∙ Built 1969
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,599
    • $1.15
    •  
  • 1333 E Donner Drive Tempe, AZ 3
    • 5 beds 4 baths ∙ 3,500 Sqft ∙ Built 1971 5 beds 4 baths ∙ 3,500 Sqft ∙ Built 1971
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.07
    •  
PROPERTY LISTING DETAILS
Vicki King
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178905
Last Updated: 01/09/2021
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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