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1317 E Northshore Drive Tempe, AZ 85283

4 Beds 3 Baths 2,670 sqft Built 1972

$525,000

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $196.63
  • 3 Days on Market
  • MLS # : 6190645
  • Updated Date : 02/06/2021 at 16:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,670 sqft
  • Baths : 3 full
Listing Agent

Re/max Fine Properties

Listing Agent's Description

Gorgeous home in the desirable Lakes neighborhood is now available for sale! Be welcomed with the spacious front patio with custom pavers and new landscaping. Soaring ceilings with exposed beams create a grand entrance. Enjoy seamless indoor-outdoor living with the new sliding door to side paver patio. Entertaining is a breeze with the formal dining room or have a more relaxed vibe with the open kitchen with breakfast bar! Upgraded kitchen features white cabinets, stainless appliances, granite counters and plenty of natural light! Family room boasts upgraded slate fireplace. Full bathroom & laundry room downstairs. Huge master bedroom is the ultimate retreat with gas fireplace in sitting area, balcony exit, his & her closets, dual sinks, frameless walk-in shower, and much more!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k372k

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

Neighborhood: The Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $10002037

* 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
Fees College Preparatory Middle School Middle Regular 925 59 4
Marcos De Niza High School High Regular 1,582 76 4

Fees College Preparatory Middle School

  • Education Level: Middle
  • # of students: 925
  • # of teachers: 59
4
GreatSchools Rating

Marcos De Niza High School

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

$472,500$577,500$525,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,824
Property Tax -$346
Property Insurance -$79
HOA -$35
Property Management Fees -$99
CASH FLOW
-$33

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.

$525,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$20k

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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$26,476

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,650

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3503$2,3954$2,5005$3,100
$3,100
RENT COMPS ANALYSIS
  • 1317 E Northshore Drive Tempe, AZ 2
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.88
    •  
  • 5627 S Jolly Roger Road Tempe, AZ 1
    • 4 beds 4 baths ∙ 2,478 Sqft ∙ Built 1972 4 beds 4 baths ∙ 2,478 Sqft ∙ Built 1972
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.95
    •  
  • 4830 S Kachina Drive Tempe, AZ 3
    • 4 beds 2 baths ∙ 2,570 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,570 Sqft ∙ Built 1971
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.93
    •  
  • 1427 E Bayview Drive Tempe, AZ 4
    • 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1972
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.93
    •  
  • 1616 E Windjammer Way Tempe, AZ 5
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1973
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.16
    •  
PROPERTY LISTING DETAILS
Gina Mckinley
Re/max Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190645
Last Updated: 02/06/2021
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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