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1123 E Del Rio Drive Tempe, AZ 85282

3 Beds 2 Baths 1,760 sqft Built 1966

$355,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1966
  • Price/Sqft : $201.70
  • 5 Days on Market
  • MLS # : 6154704
  • Updated Date : 11/04/2020 at 13:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,760 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Tempe home in highly sought out Tempe Royal Palms community, 3 bedroom, 2 bath, 1 story. Right around the corner just a short walk away is a community playground, big grass area and basketball, making living easy. Quick access to 101 loop or I-60 freeway. Plenty of natural lighting and views from your kitchen. Large covered patio. New Roof 9/20/2018 A/C and Heat pump replaced 7/28/2016..see Documents tab for copies of repairs and SPDS

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rural-Geneva

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k307k

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

Neighborhood: Rural-Geneva

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $10001813

* 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
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,310
Property Tax -$234
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
$56

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.

$355,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.6%
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$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$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$32,139

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,918

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7603$1,9004$2,0955$2,100
$2,100
RENT COMPS ANALYSIS
  • 1123 E Del Rio Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.00
    •  
  • 1032 E Alameda Drive Tempe, AZ 1
    • 4 beds 3 baths ∙ 1,690 Sqft ∙ Built 1963 4 beds 3 baths ∙ 1,690 Sqft ∙ Built 1963
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 1047 E Laguna Drive Tempe, AZ 3
    • 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 1970
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.10
    •  
  • 1138 E Alameda Drive Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1966
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.13
    •  
  • 2823 S Terrace Road Tempe, AZ 5
    • 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 1967
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.13
    •  
PROPERTY LISTING DETAILS
Sue K Davis
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154704
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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