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1204 E Steamboat Bend Drive Tempe, AZ 85283

5 Beds 2 Baths 2,429 sqft Built 1974

$524,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $215.73
  • 6 Days on Market
  • MLS # : 6154928
  • Updated Date : 12/03/2020 at 11:47
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,429 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

Impeccably maintained and updated single level home in The Coves is just steps from The Lakes Clubhouse. This 5 bedroom/2 bathroom, split floor plan home has been loved and cared for by the owners for over 36 years! Many updates over the years include filling in the sunken living room floor, popcorn ceilings removed, kitchen/family room redesign including removing a dividing wall and adding a skylight to create an open and bright living area, bathroom remodels, and dual pane windows. Enjoy the private backyard with large covered patio, professional landscaping with extensive paver deck, planters and benches, colorful gardens and green grass. Be sure to visit The Lakes Clubhouse and check out all of the amenities. You'll Love Living in The Lakes

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k372k

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

Neighborhood: The Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $10002037

* 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
Rover Elementary School Primary Regular 511 29 7
Rover Elementary School Middle Regular 511 29 7
Marcos De Niza High School High Regular 1,582 76 4

Rover Elementary School

  • Education Level: Primary
  • # of students: 511
  • # of teachers: 29
7
GreatSchools Rating

Rover Elementary School

  • Education Level: Middle
  • # of students: 511
  • # of teachers: 29
7
GreatSchools Rating

Marcos De Niza High School

  • Education Level: High
  • # of students: 1,582
  • # of teachers: 76
4
GreatSchools Rating
 

$471,600$576,400$524,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,933
Property Tax -$345
Property Insurance -$75
HOA -$35
Property Management Fees -$99
CASH FLOW
-$197

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.

$524,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.0%
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-$5.0k$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,610

INVESTMENT

$144,610

Down Payment
$131,000
Rehab Estimate
$5,750
Closing Costs
$7,860

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,933

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,000
Loan Amount $393,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$19,187

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,265

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1503$2,2904$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 1204 E Steamboat Bend Drive Tempe, AZ 3
    • 5 beds 2 baths ∙ 2,429 Sqft ∙ Built 1974 5 beds 2 baths ∙ 2,429 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.94
    •  
  • 1232 E Harbor View Drive Tempe, AZ 1
    • 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 1972
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 5432 S Lighthouse Lane Tempe, AZ 2
    • 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1973
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.95
    •  
  • 3715 S Dorsey Lane Tempe, AZ 4
    • 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1968 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1968
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
  • 5627 S Jolly Roger Road Tempe, AZ 5
    • 4 beds 4 baths ∙ 2,478 Sqft ∙ Built 1972 4 beds 4 baths ∙ 2,478 Sqft ∙ Built 1972
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.95
    •  
PROPERTY LISTING DETAILS
Daniel T Birk
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154928
Last Updated: 12/03/2020
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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