Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1216 E Sunburst Lane Tempe, AZ 85284

3 Beds 2 Baths 2,432 sqft Built 1981

$466,400

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $191.78
  • 3 Days on Market
  • MLS # : 6212248
  • Updated Date : 03/27/2021 at 15:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,432 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Beautiful family ranch style home in the Kyrene School District, a must see! 3 mile private walking trail nearby for you, your family, and fur babies. Pool updated in 2019 and a 2 space parking garage adding 483 sqft. Behind the gates reveals a depth that is able to hold a 40ft RV and has an independent 30 amp electrical hook up.You have a fantastic opportunity to customize your home without doing any major repairs. This oasis sits on a 10,677 sqft lot that includes a mother in lawed Beehive fireplace right by the pool, a guaranteed topic of conversation at every family gathering! Located in the middle of Maricopa Fwy and the 101 you are minutes a way from many shopping centers, Tempe town lake, and South Mountain Park! **This home is being sold using an ONLINE BIDDING PLATFORM

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Carver Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k502k

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

Neighborhood: Carver Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $10002306

* 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
C.i. Waggoner School Primary Regular 612 34 8
Kyrene Middle School College Preparatory Academy Middle Regular 1,056 55 6
Corona Del Sol High School High Regular 2,781 114 7

C.i. Waggoner School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 34
8
GreatSchools Rating

Kyrene Middle School College Preparatory Academy

  • Education Level: Middle
  • # of students: 1,056
  • # of teachers: 55
6
GreatSchools Rating

Corona Del Sol High School

  • Education Level: High
  • # of students: 2,781
  • # of teachers: 114
7
GreatSchools Rating
 

$419,760$513,040$466,400

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,620
Property Tax -$349
Property Insurance -$75
Property Management Fees -$99
CASH FLOW
-$183

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.

$466,400

PROJECTED PRICE

$1,960

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.8%
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

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$129,346

INVESTMENT

$129,346

Down Payment
$116,600
Rehab Estimate
$5,750
Closing Costs
$6,996

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,620

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,600
Loan Amount $349,800
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$12,668

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,146

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9603$1,9954$2,0955$2,350
$2,350
RENT COMPS ANALYSIS
  • 1216 E Sunburst Lane Tempe, AZ 2
    • 3 beds 2 baths ∙ 2,432 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,432 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.81
    •  
  • 1036 E Knight Lane Tempe, AZ 1
    • 4 beds 2 baths ∙ 2,138 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,138 Sqft ∙ Built 1985
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
  • 1857 E Chilton Drive Tempe, AZ 3
    • 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 1994
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 311 W Calle De Caballos -- Tempe, AZ 4
    • 4 beds 2 baths ∙ 2,393 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,393 Sqft ∙ Built 1996
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.88
    •  
  • 1134 E Sunburst Lane Tempe, AZ 5
    • 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 1987
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
PROPERTY LISTING DETAILS
Deangelo Simmons
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6212248
Last Updated: 03/27/2021
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.

BESbswy