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1231 E Susan Lane Tempe, AZ 85281

3 Beds 2 Baths 1,512 sqft Built 1970

$400,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $264.55
  • 2 Days on Market
  • MLS # : 6181905
  • Updated Date : 01/16/2021 at 06:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,512 sqft
  • Baths : 2 full
Listing Agent

Kenneth James Realty

Listing Agent's Description

Wonderful gem located in the highly desirable Indian Bend Neighborhood in north Tempe at the border of South Scottsdale. Lush landscaping, thoroughly upgraded including: sand blasted slump block, fresh paint, new roof and facia in 2019, diagonal tile floors, granite counter tops, upgraded doors, updated lights, fixtures and tile wainscot in bathrooms. It gets better... detached studio with electric and wall heater/cooler and an amazing Gazebo in back. Close to ASU, Mill Ave, Old Town Scottsdale, Tempe Marketplace, Tempe Town Lake, city parks and bike paths for easy access to all.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Papago - North Tempe

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Papago - North Tempe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800100012001400160018002000Rent in $7112187

* 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
Laird School Primary Regular 433 29 2
Laird School Middle Regular 433 29 2
Mcclintock High School High Regular 1,771 81 6

Laird School

  • Education Level: Primary
  • # of students: 433
  • # of teachers: 29
2
GreatSchools Rating

Laird School

  • Education Level: Middle
  • # of students: 433
  • # of teachers: 29
2
GreatSchools Rating

Mcclintock High School

  • Education Level: High
  • # of students: 1,771
  • # of teachers: 81
6
GreatSchools Rating
 

$360,000$440,000$400,000

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 -$1,389
Property Tax -$263
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$108

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.

$400,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 11.1%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$15,794

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
  • $1,928

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7503$1,8504$1,9655$2,125
$2,125
RENT COMPS ANALYSIS
  • 1231 E Susan Lane Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1921 N Cavalier Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1962
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.21
    •  
  • 1710 N Oleander Street Tempe, AZ 3
    • 4 beds 2 baths ∙ 1,356 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,356 Sqft ∙ Built 1968
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.36
    •  
  • 1132 N Rose Street Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1960
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,965
    • $1.20
    •  
  • 1146 E Marny Road Tempe, AZ 5
    • 4 beds 2 baths ∙ 1,603 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,603 Sqft ∙ Built 1969
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $1.33
    •  
PROPERTY LISTING DETAILS
David Mowry
Kenneth James Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181905
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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