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1048 W Hermosa Drive Tempe, AZ 85282

3 Beds 2 Baths 1,540 sqft Built 1978

$330,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $214.29
  • 5 Days on Market
  • MLS # : 6161927
  • Updated Date : 11/19/2020 at 10:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,540 sqft
  • Baths : 2 full
Listing Agent

Glass House International

Listing Agent's Description

Updated home in the heart of Tempe with NO HOA! You will love this home's open floorplan with a wood burning fireplace in the great room. The modern kitchen features stainless steel appliances, island and plenty of cabinets for storage. Enclosed Arizona room and recently updated backyard, perfect for entertaining, with new pavers and artificial turf for easy maintenance and green grass year round! 2 car garage and newer AC. Close to freeways, airport, shopping & restaurants. Schedule your private showing today!

SEE MORE

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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,218
Property Tax -$217
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$61

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.

$330,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.46%

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$18,883

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,675

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5303$1,6704$1,6755$1,825
$1,825
RENT COMPS ANALYSIS
  • 1048 W Hermosa Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.99
    •  
  • 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
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.99
    •  
  • 4016 S Grandview Avenue Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1963
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.10
    •  
  • 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
    property image
    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
    property image
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.11
    •  
PROPERTY LISTING DETAILS
Trish C Elliott
Glass House International
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6161927
Last Updated: 11/19/2020
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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