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105 E Hermosa Drive Tempe, AZ 85282

4 Beds 3 Baths 2,060 sqft Built 1962

INVESTimate

$449,900

List Price

$1,910

$1,719 - $2,101

Rent Est.

$494,305  ( +9.87%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $218.40
  • 4 Days on Market
  • MLS # : 6121525
  • Updated Date : 08/25/2020 at 11:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,060 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

LOCATION LOCATION!! GORGEOUS CONTEMPORARY REMODEL w/ 2 MASTERS! SPLIT FLOOR PLAN -4 Bed /3 BATH! NO HOA! SINGLE STORY~Move in READY! This charming home sitting on a CORNER LOT!! Lime-washed Brick Exterior! Beautiful open kitchen w/ quartz counter tops, subway tile backsplash, large island, ALL stainless steel Kitchen Aid appliances, 42'' upgraded white cabinets=tons of storage! Wood plank tile flooring through out. Smooth finish texture walls. NEW Roof, NEW block walls, NEW Windows, NEW Bathrooms, professionally landscaped low maintenance front yard, large lush green pool size backyard. Large Laundry room w/ LG Washer & Dryer. LARGE COVERED PARKING AREA w/ RV gate. Great location w easy freeway access , 2.5 miles to ASU/ Gamage/ Stadium! Close to Great Shopping, Swanky Eateries!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Tempe Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k292k

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

Neighborhood: Tempe Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550160016501700Rent in $10001703

* 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
Connolly Middle School Middle Regular 1,058 57 6
Tempe High School High Regular 1,550 78 3

Carminati Elementary School

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

Connolly Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 57
6
GreatSchools Rating

Tempe High School

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

$404,910$494,890$449,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,660
Property Tax -$296
Property Insurance -$67
Property Management Fees -$99
CASH FLOW
-$213

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.

$449,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.87%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$15,280

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,096

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9103$2,0254$2,2505$2,450
$2,450
RENT COMPS ANALYSIS
  • 105 E Hermosa Drive Tempe, 2
    • 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.93
    •  
  • 603 E Carson Drive Tempe, 1
    • 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1970
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
  • 4501 S Forest Avenue Tempe, 3
    • 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 1963
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.94
    •  
  • 145 E Santa Cruz Drive Tempe, 4
    • 5 beds 2 baths ∙ 2,238 Sqft ∙ Built 1963 5 beds 2 baths ∙ 2,238 Sqft ∙ Built 1963
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.01
    •  
  • 126 E Santa Cruz Drive Tempe, 5
    • 5 beds 3 baths ∙ 2,137 Sqft ∙ Built 1963 5 beds 3 baths ∙ 2,137 Sqft ∙ Built 1963
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.15
    •  
PROPERTY LISTING DETAILS
Elizabeth Rolfe
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121525
Last Updated: 08/25/2020
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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