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1229 E Manhatton Drive Tempe, AZ 85282

4 Beds 2 Baths 1,784 sqft Built 1964

$455,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $255.04
  • 2 Days on Market
  • MLS # : 6187654
  • Updated Date : 01/30/2021 at 01:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,784 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

This is a perfect turnkey home for your family! This home is in a prime location within the city of Tempe near grocery stores, shopping malls, ASU's Downtown campus, MCC, US-60 and the 101. This home has a lot to offer, from the beautiful desert landscape on the outside to the granite countertops, soft close cabinets, spacious rooms, and a walk-in closet in the master bedroom on the inside. This is a MUST SEE!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Hollis Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $83k303k

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

Neighborhood: Hollis Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8621782

* 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
 

$409,500$500,500$455,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,580
Property Tax -$300
Property Insurance -$62
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.

$455,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.2%
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-$5.0k$0.0$5.0k$10k

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$126,325

INVESTMENT

$126,325

Down Payment
$113,750
Rehab Estimate
$5,750
Closing Costs
$6,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,580

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $113,750
Loan Amount $341,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,010

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
  • $1,891

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8753$1,9004$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 1229 E Manhatton Drive Tempe, AZ 1
    • 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 625 E Manhatton Drive Tempe, AZ 2
    • 4 beds 2 baths ∙ 1,762 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,762 Sqft ∙ Built 1968
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.06
    •  
  • 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
    •  
  • 1263 E Hermosa Drive Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1964
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.99
    •  
  • 1049 E Carter Drive Tempe, AZ 5
    • 4 beds 2 baths ∙ 1,832 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,832 Sqft ∙ Built 1971
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.09
    •  
PROPERTY LISTING DETAILS
Tuhfah Alamin
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187654
Last Updated: 01/30/2021
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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