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PROPERTY INFO
FACTS
- Single Family
- Built In 1970
- Price/Sqft : $334.96
- 2 Days on Market
- MLS # : 6200043
- Updated Date : 02/27/2021 at 01:24
CONSTRUCTION
- Beds : 3
- Floor Size : 1,433 sqft
- Baths : 2 full
Listing Agent
Kenneth James Realty
Listing Agent's Description
Welcome home! Enjoy North Tempe/South Scottsdale area at its finest. Heated built in spa and pool, built in propane fire island, pavers in back, natural grass with water system in back, synthetic grass in front with new pavers and space for an RV with 220 power. Sandblasted sump block, new paint, new roof, new RV and rear gates. Interior has travertine tile, new carpet, ceiling fans, stainless steal appliances, updated baths and kitchen. Minutes away from bike paths, parks, Old Town Scottsdale, Tempe Town lake, ASU, Mill Ave and Sky Harbor Airport.
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PRICE & RENT TRENDS
Neighborhood: Papago - North Tempe
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Papago - North Tempe
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,660 |
| EXPENSES | Loan Payment | -$1,667 |
| Property Tax | -$316 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$478
|
||
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.
$480,000
PROJECTED PRICE
$1,660
PROJECTED RENT
0.35%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$132,950
LOAN DETAILS
$1,667
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $120,000 |
| Loan Amount | $360,000 |
1.08
YEARS SAVED
$2,071
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,660
LIST RENT -
$1.16
LIST RENT PER SQFT
-
$1,881
COMP ESTIMATED VALUE -
$1.31
COMP AVG. RENT PER SQFT
Comps Range
-
1233 E Marny Road Tempe, AZ 3
- 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1970
![property image]()
- Rent
- Rent Per SQFT
- $1,660
- $1.16
-
1249 E Susan Lane Tempe, AZ 1
- 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 1970
![property image]()
LEASED 04/30/20- Rent
- Rent Per SQFT
- $1,550
- $1.26
-
1225 E Marigold Lane Tempe, AZ 2
- 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1968
![property image]()
LEASED 08/01/20- Rent
- Rent Per SQFT
- $1,595
- $1.27
-
1710 N Oleander Street Tempe, AZ 4
- 4 beds 2 baths ∙ 1,356 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,356 Sqft ∙ Built 1968
![property image]()
LEASED 06/01/20- Rent
- Rent Per SQFT
- $1,850
- $1.36
-
950 E Lilac Drive Tempe, AZ 5
- 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1963
![property image]()
LEASED 02/12/21- Rent
- Rent Per SQFT
- $2,200
- $1.36
PROPERTY LISTING DETAILS
Kenneth James Realty
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6200043
Last Updated: 02/27/2021
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.
