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1098 W Caroline Lane Tempe, AZ 85284

3 Beds 3 Baths 2,248 sqft Built 2010

$435,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $193.51
  • 3 Days on Market
  • MLS # : 6204417
  • Updated Date : 03/28/2021 at 05:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,248 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Great Tempe home tucked away in secluded gated Tempe Village subdivision. Featuring two-story home, corner lot with 3 bedrooms, 2.5 baths, large loft, gas fireplace, modern woodgrain ceramic tile flooring in kitchen / formal dining room/ family room and wood faux blinds. Eat-in kitchen has lovely quartz counter tops, dark wood cabinets, breakfast bar, gas range, all stainless steel appliances and refrigerator. Pavers in front and backyard, fire pit, synthetic grass. Easy access to freeways, shopping, sky Harbor Airport and major industries.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mills - Emerald

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k491k

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

Neighborhood: Mills - Emerald

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $10002374

* 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
Kyrene Del Pueblo Middle School Middle Regular 829 50 8
Mountain Pointe High School High Regular 2,685 111 3
Mountain Pointe High School High Unknown NA

Kyrene Del Pueblo Middle School

  • Education Level: Middle
  • # of students: 829
  • # of teachers: 50
8
GreatSchools Rating

Mountain Pointe High School

  • Education Level: High
  • # of students: 2,685
  • # of teachers: 111
3
GreatSchools Rating

Mountain Pointe High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$391,500$478,500$435,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,511
Property Tax -$314
Property Insurance -$71
HOA -$24
Property Management Fees -$99
CASH FLOW
-$90

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.

$435,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.5%
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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,511

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$18,488

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,046

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,930
1$1,9302$2,0003$2,0954$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 1098 W Caroline Lane Tempe, AZ 1
    • 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.86
    •  
  • 1116 W Dawn Drive Tempe, AZ 2
    • 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2008
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
  • 1135 W Caroline Lane Tempe, AZ 3
    • 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2007
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.93
    •  
  • 819 N Alison Way Chandler, AZ 4
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 2015
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
  • 1182 W Amanda Lane Tempe, AZ 5
    • 3 beds 2 baths ∙ 2,279 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,279 Sqft ∙ Built 1994
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
PROPERTY LISTING DETAILS
Carolyn B. Haith
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6204417
Last Updated: 03/28/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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