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1118 E Manhatton Drive Tempe, AZ 85282

5 Beds 2 Baths 1,914 sqft Built 1964

$475,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1964
  • Price/Sqft : $248.17
  • 3 Days on Market
  • MLS # : 6157104
  • Updated Date : 11/06/2020 at 13:36
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,914 sqft
  • Baths : 2 full
Listing Agent

Libertas Real Estate

Listing Agent's Description

No detail spared in this top to bottom remodel in one of the best neighborhoods in Tempe. Recently redone, including the plumbing, not as a flip but for the owners (who have great taste) job change forces sale. Reap the benefits of their hard work. Five bedrooms configured in a split floorplan with plenty of master bedroom privacy. Adorable living room, pool with a big garden out back. Enjoy swanky vibes at an unbeatable price. Newer roof, AC, and pool equipment make this home a must buy!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Hollis Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $83k303k

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

Neighborhood: Hollis Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8621782

* 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
Hudson Elementary School Primary Regular 476 26 6
Connolly Middle School Middle Regular 1,058 57 6
Mcclintock High School High Regular 1,771 81 6

Hudson Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 26
6
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
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,753
Property Tax -$313
Property Insurance -$65
Property Management Fees -$99
CASH FLOW
-$309

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.

$475,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$10,141

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,024

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9203$2,0004$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 1118 E Manhatton Drive Tempe, AZ 2
    • 5 beds 2 baths ∙ 1,914 Sqft ∙ Built 1964 5 beds 2 baths ∙ 1,914 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.00
    •  
  • 3918 S Oak Street Tempe, AZ 1
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1969
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
  • 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
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.09
    •  
  • 1118 E Laguna Drive Tempe, AZ 4
    • 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 1963
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.06
    •  
  • 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
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.13
    •  
PROPERTY LISTING DETAILS
Somone Wilder
Libertas Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157104
Last Updated: 11/06/2020
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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