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1032 W Santa Cruz Drive Tempe, AZ 85282

3 Beds 2 Baths 1,456 sqft Built 1978

$325,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $223.21
  • 2 Days on Market
  • MLS # : 6185053
  • Updated Date : 01/23/2021 at 20:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,456 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

TENANTS RIGHTS, 72 HR. TENANT HAS FIRST RIGHT OF REFUSAL. NOTICE REQUIRED FOR SHOWINGS. CONTACT LISTING AGENTS FOR MORE INFO.

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PRICE & RENT TRENDS

Neighborhood: Southern Palms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $106k290k

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

Neighborhood: Southern Palms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8331703

* 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
Carminati Elementary School Primary Regular 372 24 4
Gililland Middle School Middle Regular 901 59 3
Tempe High School High Regular 1,550 78 3

Carminati Elementary School

  • Education Level: Primary
  • # of students: 372
  • # of teachers: 24
4
GreatSchools Rating

Gililland Middle School

  • Education Level: Middle
  • # of students: 901
  • # of teachers: 59
3
GreatSchools Rating

Tempe High School

  • Education Level: High
  • # of students: 1,550
  • # of teachers: 78
3
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,129
Property Tax -$214
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$47

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.

$325,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.8%
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$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$14k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$15,864

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4503$1,5004$1,6755$1,825
$1,825
RENT COMPS ANALYSIS
  • 1032 W Santa Cruz Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 3701 S Mill Avenue Tempe, AZ 1
    • 3 beds 3 baths ∙ 1,408 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,408 Sqft ∙ Built 1964
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.99
    •  
  • 3838 S Roosevelt Street Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1979
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.18
    •  
  • 713 W Hermosa Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1978
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.15
    •  
  • 5039 S Roosevelt Street Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1998
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.11
    •  
PROPERTY LISTING DETAILS
Debbie L Richards
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6185053
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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