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1024 W Tulane Drive Tempe, AZ 85283

3 Beds 2 Baths 1,256 sqft Built 1979

$310,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $246.82
  • 2 Days on Market
  • MLS # : 6184875
  • Updated Date : 01/23/2021 at 20:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,256 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Northern Az

Listing Agent's Description

Great location for this charming 3 bed, 2 bath home. Beautiful laminate wood floors throughout most of the home. The eat-in kitchen has tile floors, black cherry cabinets, Sizable bedrooms. The master bedroom has a 3/4 bath and a walk-in closet. The backyard has a covered patio, storage shed and large lawn area for the kids & pets to play! Minutes to ASU, Sky Harbor, major freeways, and so much more! No HOA!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Wood Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k290k

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

Neighborhood: Wood Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7511703

* 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
Wood Elementary School Primary Regular 582 33 4
Fees College Preparatory Middle School Middle Regular 925 59 4
Marcos De Niza High School High Regular 1,582 76 4

Wood Elementary School

  • Education Level: Primary
  • # of students: 582
  • # of teachers: 33
4
GreatSchools Rating

Fees College Preparatory Middle School

  • Education Level: Middle
  • # of students: 925
  • # of teachers: 59
4
GreatSchools Rating

Marcos De Niza High School

  • Education Level: High
  • # of students: 1,582
  • # of teachers: 76
4
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$1,077
Property Tax -$204
Property Insurance -$52
Property Management Fees -$99
CASH FLOW
-$42

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.

$310,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$14,928

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,438

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,3993$1,6004$1,6135$1,695
$1,695
RENT COMPS ANALYSIS
  • 1024 W Tulane Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,256 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,256 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.11
    •  
  • 8610 S Avenida Del Yaqui Avenue Guadalupe, AZ 2
    • 4 beds 2 baths ∙ 1,300 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,300 Sqft ∙ Built 1981
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $1.08
    •  
  • 1026 W Libra Drive Tempe, AZ 3
    • 3 beds 3 baths ∙ 1,461 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,461 Sqft ∙ Built 1995
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
  • 1013 W Cornell Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1980
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,613
    • $1.17
    •  
  • 5400 S Hardy Drive #115 Tempe, AZ 5
    • 3 beds 3 baths ∙ 1,383 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,383 Sqft ∙ Built 1999
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.23
    •  
PROPERTY LISTING DETAILS
Kevin C Schmidt
Keller Williams Northern Az
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184875
Last Updated: 01/23/2021
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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