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1073 W Santa Cruz Drive Tempe, AZ 85282

3 Beds 2 Baths 1,358 sqft Built 1978

$330,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $243.00
  • 5 Days on Market
  • MLS # : 6156043
  • Updated Date : 11/04/2020 at 17:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,358 sqft
  • Baths : 2 full
Listing Agent

Century 21 Seago

Listing Agent's Description

This well cared for, originally owned home boasts timeless upgrades. The sun room views the well landscaped, massive yard.The home has crown molding and large baseboards. The kitchen has granite counter tops and fresh white cabinets. The pantry has pull-outs. The freestanding, electric fireplace in the sun room awaits lovely fall evenings.

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

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$1,218
Property Tax -$217
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$228

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

$1,360

PROJECTED RENT

0.41%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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 55% 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

2.42

YEARS SAVED

$6,939

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,535

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,360
1$1,3602$1,3753$1,5004$1,6005$1,675
$1,675
RENT COMPS ANALYSIS
  • 1073 W Santa Cruz Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.00
    •  
  • 1438 W La Jolla Drive Tempe, AZ 2
    • 3 beds 3 baths ∙ 1,223 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,223 Sqft ∙ Built 1984
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.12
    •  
  • 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
    •  
  • 940 W Oxford Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1978
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.07
    •  
  • 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
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.15
    •  
PROPERTY LISTING DETAILS
Pamm Seago-peterlin
Century 21 Seago
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156043
Last Updated: 11/04/2020
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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