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1218 E Loma Vista Drive Tempe, AZ 85282

3 Beds 2 Baths 1,260 sqft Built 1963

$327,500

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $259.92
  • 4 Days on Market
  • MLS # : 6156795
  • Updated Date : 11/05/2020 at 21:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,260 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Check out this beautiful 3 bedroom 2 bath home in Tempe with NO HOA!Great curb appeal with with low maintenance yard.Lovely neutral paint, tile & wood throughout.Kitchen with very nice white cabinets and breakfast bar with plenty of cabinet / quartz counter top space.The living room has an amazing tile fireplace.Out back you have a sparkling blue pool and covered patio as well as separate storage area.This property is close to everything! Shops, restaurants, bars, you name it!This market is hot and a property like this won't last long so make sure you take a look today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Hughes Acres

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k293k

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

Neighborhood: Hughes Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550160016501700Rent in $10001703

* 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
 

$294,750$360,250$327,500

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$1,208
Property Tax -$216
Property Insurance -$52
Property Management Fees -$99
CASH FLOW
-$265

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.

$327,500

PROJECTED PRICE

$1,310

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$92,538

INVESTMENT

$92,538

Down Payment
$81,875
Rehab Estimate
$5,750
Closing Costs
$4,913

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,208

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,875
Loan Amount $245,625
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$4,970

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,386

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3103$1,3954$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 1218 E Loma Vista Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $1.04
    •  
  • 2725 S Rural Road #25 Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,107 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,107 Sqft ∙ Built 1965
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.17
    •  
  • 1527 E Newport Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1970
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.11
    •  
  • 1707 E Gaylon Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1971
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
  • 2527 S Rita Lane Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1964
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.04
    •  
PROPERTY LISTING DETAILS
Nicole Gonzalez
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156795
Last Updated: 11/05/2020
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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