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1303 E Carmen Street Tempe, AZ 85283

5 Beds 2 Baths 2,164 sqft Built 1979

$467,999

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $216.27
  • 6 Days on Market
  • MLS # : 6151894
  • Updated Date : 11/01/2020 at 22:33
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,164 sqft
  • Baths : 2 full
Listing Agent

Prosmart Realty

Listing Agent's Description

NO HOA !!OUTSTANDING FAMILY HOME IN PERFECT TEMPE NEIGHBORHOOD. The home features Split floorplan with vaulted ceilings. 5 bedroom/2bath. Great schools, nearby shopping, restaurants, and malls, quick access to freeways that leads to everything in the valley of the sun Easy access to nearby amenities include Trader Joe's & Changing Hands Bookstore (4 blocks),Western Canal walking and bike path (3 blocks) Loop #101 (4 blocks) #60 (1/2 mile) 2 Unit AC Replaced within 3 years. $3000 wall block fence allowance.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Bradley Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $109k364k

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

Neighborhood: Bradley Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $10001832

* 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
Kyrene De Los Ninos College Bound Dual Language Academy Primary Regular 706 40 6
Kyrene Middle School College Preparatory Academy Middle Regular 1,056 55 6
Marcos De Niza High School High Regular 1,582 76 4

Kyrene De Los Ninos College Bound Dual Language Academy

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 40
6
GreatSchools Rating

Kyrene Middle School College Preparatory Academy

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

Marcos De Niza High School

  • Education Level: High
  • # of students: 1,582
  • # of teachers: 76
4
GreatSchools Rating
 

$421,199$514,799$467,999

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,727
Property Tax -$339
Property Insurance -$69
Property Management Fees -$99
CASH FLOW
-$284

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.

$467,999

PROJECTED PRICE

$1,950

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.9%
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

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$129,770

INVESTMENT

$129,770

Down Payment
$117,000
Rehab Estimate
$5,750
Closing Costs
$7,020

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,727

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,000
Loan Amount $350,999
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$11,477

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,007

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$1,9754$2,1505$2,495
$2,495
RENT COMPS ANALYSIS
  • 1303 E Carmen Street Tempe, AZ 2
    • 5 beds 2 baths ∙ 2,164 Sqft ∙ Built 1979 5 beds 2 baths ∙ 2,164 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
  • 1104 E Bell De Mar Drive Tempe, AZ 1
    • 4 beds 4 baths ∙ 2,346 Sqft ∙ Built 1973 4 beds 4 baths ∙ 2,346 Sqft ∙ Built 1973
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.81
    •  
  • 1823 E Watson Drive Tempe, AZ 3
    • 4 beds 2 baths ∙ 2,217 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,217 Sqft ∙ Built 1973
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.89
    •  
  • 5432 S Lighthouse Lane Tempe, AZ 4
    • 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1973
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.95
    •  
  • 6728 S Terrace Road Tempe, AZ 5
    • 5 beds 4 baths ∙ 2,346 Sqft ∙ Built 1973 5 beds 4 baths ∙ 2,346 Sqft ∙ Built 1973
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.06
    •  
PROPERTY LISTING DETAILS
Samira S. Shahin
Prosmart Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6151894
Last Updated: 11/01/2020
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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