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1059 W La Jolla Drive Tempe, AZ 85282

3 Beds 2 Baths 1,383 sqft Built 1977

$325,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $235.00
  • 4 Days on Market
  • MLS # : 6172418
  • Updated Date : 12/18/2020 at 11:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,383 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

THIS IS A FIX UP PROPERTY! Three bedroom split plan with pool and double garage - Needs complete remodel - Great Tempe location close to schools, freeways and shopping - No HOA - Many neighbors have removed the wall between the family and living rooms - New roof in 2019

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
 

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

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 -$1,199
Property Tax -$214
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$36

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

$1,530

PROJECTED RENT

0.47%

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.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$20,838

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
  • $1.11

    LIST RENT PER SQFT
  • $1,535

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3953$1,5004$1,5305$1,675
$1,675
RENT COMPS ANALYSIS
  • 1059 W La Jolla Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.11
    •  
  • 1438 W La Jolla Drive Tempe, AZ 1
    • 3 beds 3 baths ∙ 1,223 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,223 Sqft ∙ Built 1984
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.12
    •  
  • 3701 S Mill Avenue Tempe, AZ 2
    • 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
    •  
  • 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
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.18
    •  
  • 713 W Hermosa Drive Tempe, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Burton Cagen
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172418
Last Updated: 12/18/2020
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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