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1024 E Sunburst Lane Tempe, AZ 85284

3 Beds 2 Baths 1,197 sqft Built 1989

$339,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $283.96
  • 3 Days on Market
  • MLS # : 6199826
  • Updated Date : 02/27/2021 at 00:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,197 sqft
  • Baths : 2 full
Listing Agent

Ravenswood Realty

Listing Agent's Description

Stunning TERRAMERE community home just hit the market in Tempe!This gorgeous home features 3 bedrooms, 2 bathrooms and 1197 sq ft of living space.This remodeled home features beautiful laminate floors throughout, new black fixtures, new hardware, and completely new bathrooms with a barn sliding door.The exquisite kitchen comes with new white cabinetry and gorgeous black granite counters and tile backsplash. Nothing left untouched. During the summer, entertain in style by the community pool or relax in your low maintenance backyard. Located on a cul-de-sac, in the highly-coveted location in Tempe close to shopping and Kiwanis, this home will not last!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Terra

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Terra

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $10001981

* 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
C.i. Waggoner School Primary Regular 612 34 8
Kyrene Middle School College Preparatory Academy Middle Regular 1,056 55 6
Corona Del Sol High School High Regular 2,781 114 7

C.i. Waggoner School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 34
8
GreatSchools Rating

Kyrene Middle School College Preparatory Academy

  • Education Level: Middle
  • # of students: 1,056
  • # of teachers: 55
6
GreatSchools Rating

Corona Del Sol High School

  • Education Level: High
  • # of students: 2,781
  • # of teachers: 114
7
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,181
Property Tax -$246
Property Insurance -$51
HOA -$180
Property Management Fees -$99
CASH FLOW
-$276

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$339,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,969

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,480

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,480
$1,480
RENT COMPS ANALYSIS
  • 1024 E Sunburst Lane Tempe, AZ
    • 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.24
    •  
PROPERTY LISTING DETAILS
Michelle Jernigan
Ravenswood Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199826
Last Updated: 02/27/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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