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1083 E Frost Drive Tempe, AZ 85282

3 Beds 2 Baths 1,802 sqft Built 1971

$389,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $215.87
  • 2 Days on Market
  • MLS # : 6165322
  • Updated Date : 11/28/2020 at 02:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,802 sqft
  • Baths : 2 full
Listing Agent

Vylla Home

Listing Agent's Description

Charming home in superb South Tempe location with many updates. Easy access to US-60, i10 & 101 freeways. Heart of Tempe adjacent, enjoy close proximity to top shopping, dining & nightlife options. Faux hardwood tile, granite countertops and dual A/C units replaced '16-'17 and dual pane windows installed in 2018. New plush carpet, new exterior paint, new garage door, all within past year! Home also features a tankless water heater, Ecobee thermostats, and whisper quiet, in-home washer & dryer included with purchase. As are stainless steel refrigerator, dishwasher & microwave. Bathrooms, kitchen, fixtures have all been updated! 400+ sq. ft. addition could be used as large 4th bedroom or perfect work from home / bonus area. Great location and fantastic home that checks many boxes!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Kiwanis - the Lakes

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $118k358k

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

Neighborhood: Kiwanis - the Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9681981

* 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
Arredondo Elementary School Primary Regular 350 21 5
Connolly Middle School Middle Regular 1,058 57 6
Mcclintock High School High Regular 1,771 81 6

Arredondo Elementary School

  • Education Level: Primary
  • # of students: 350
  • # of teachers: 21
5
GreatSchools Rating

Connolly Middle School

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

Mcclintock High School

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

$350,100$427,900$389,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,435
Property Tax -$256
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$33

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$389,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$24,002

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,991

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,665
1$1,6652$1,8203$2,0004$2,1955$2,250
$2,250
RENT COMPS ANALYSIS
  • 1083 E Frost Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $1.01
    •  
  • 4810 S Birch Street Tempe, AZ 1
    • 4 beds 3 baths ∙ 1,656 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,656 Sqft ∙ Built 1971
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $1.01
    •  
  • 1049 E Carter Drive Tempe, AZ 3
    • 4 beds 2 baths ∙ 1,832 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,832 Sqft ∙ Built 1971
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.09
    •  
  • 1405 E Fremont Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1970
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.19
    •  
  • 3916 S Pine Street Tempe, AZ 5
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1969
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.13
    •  
PROPERTY LISTING DETAILS
Colton Tellam
Vylla Home
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165322
Last Updated: 11/28/2020
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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