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1123 W Elna Rae Street Tempe, AZ 85281

3 Beds 2 Baths 1,347 sqft Built 1959

$325,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $241.28
  • 6 Days on Market
  • MLS # : 6188662
  • Updated Date : 02/06/2021 at 02:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,347 sqft
  • Baths : 2 full
Listing Agent

Gold Trust Realty

Listing Agent's Description

3 BEDROOMS, 2 BATHROOM, SINGLE LEVEL HOUSE NEAR ASU CAMPUS. GREAT ROOM, EAT IN KITCHEN, TILE FLOOR THROUGHOUT WITH CARPET IN TWO BEDROOMS. FRESH PAINT. STORAGE, LAUNDRY ROOM, GUEST BATHROOM NEXT TO GARAGE. LARGE BACK YARD. CLOSE TO 202 & I-10 FRWY.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gililland

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k290k

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

Neighborhood: Gililland

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7231703

* 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
Holdeman Elementary School Primary Regular 618 36 2
Gililland Middle School Middle Regular 901 59 3
Tempe High School High Regular 1,550 78 3

Holdeman Elementary School

  • Education Level: Primary
  • # of students: 618
  • # of teachers: 36
2
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,129
Property Tax -$207
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
$341

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.

$325,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.8%
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$0.0$5.0k$10k$15k$20k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

11.08

YEARS SAVED

$54,078

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,835

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7923$1,8954$1,9005$1,980
$1,980
RENT COMPS ANALYSIS
  • 1123 W Elna Rae Street Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1145 W 12th Place Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1963
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,792
    • $1.29
    •  
  • 1028 W 12th Street Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1963
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.40
    •  
  • 821 W 9th Street Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,494 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,494 Sqft ∙ Built 1958
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.27
    •  
  • 1017 W Elna Rae Street Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1959
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.49
    •  
PROPERTY LISTING DETAILS
Jin Shao
Gold Trust Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6188662
Last Updated: 02/06/2021
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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