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1036 E Susan Lane Tempe, AZ 85281

3 Beds 2 Baths 1,638 sqft Built 1999

$465,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $283.88
  • 4 Days on Market
  • MLS # : 6175832
  • Updated Date : 12/31/2020 at 16:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,638 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Beautiful! PRIME Location rental! Single Family Home. 3 Bedrooms, 2 Bathrooms, completely remodeled. FULLY FURNISHED with stainless steel appliances!!! 9ft ceilings and modernized. Homes on this street RARELY come on the market.Built in 1999 & in biking distance to ASU and old town Scottsdale. Open,bright floorplan. Each bedroom shows beautiful italian flooring as well as the Bathrooms fully outfitted in Granite and soft close cabinets. Furniture available on a separate bill of sale. Also conveniently located next to the light rail and main bus stop as well as the Orbit bus that passes by a block over every 10 minutes.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Papago - North Tempe

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Papago - North Tempe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800100012001400160018002000Rent in $7112187

* 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
Laird School Primary Regular 433 29 2
Laird School Middle Regular 433 29 2
Mcclintock High School High Regular 1,771 81 6

Laird School

  • Education Level: Primary
  • # of students: 433
  • # of teachers: 29
2
GreatSchools Rating

Laird School

  • Education Level: Middle
  • # of students: 433
  • # of teachers: 29
2
GreatSchools Rating

Mcclintock High School

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

$418,500$511,500$465,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,716
Property Tax -$306
Property Insurance -$59
HOA -$13
Property Management Fees -$99
CASH FLOW
$117

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.

$465,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 11.1%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$47,134

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.41

    LIST RENT PER SQFT
  • $2,314

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,3104$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1036 E Susan Lane Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.41
    •  
  • 1073 E Susan Lane Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1999
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.34
    •  
  • 1025 E Susan Lane Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1999
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.34
    •  
  • 1084 E Susan Lane Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1999
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.47
    •  
  • 1106 E Weber Drive #1004 Tempe, AZ 5
    • 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2015
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.50
    •  
PROPERTY LISTING DETAILS
Aaron Benson
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6175832
Last Updated: 12/31/2020
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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