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1331 E Carmen Street Tempe, AZ 85283

4 Beds 2 Baths 2,378 sqft Built 1979

$495,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $208.16
  • 3 Days on Market
  • MLS # : 6185873
  • Updated Date : 01/28/2021 at 23:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,378 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arizona Realty

Listing Agent's Description

What makes you Happy?? Farm-to-Table Healthy Lifestyle? Great Room w Natural Light & Extra Flex Space for Work-from-Home, Virtual School, Yoga? Resurfaced Pool & New Decking Pavers? Single-Level living? No HOA? Huge Real Grass Backyard w Irrigation & Big Shady Trees for entertaining, playing, relaxing? A backyard for your fur-babies? Kitchen w Quartz Counter Tops, SS Appliances, 2 Pantry's & an Island big enough for All Your People? Growing Organic Veggies in Your Own Raised Garden Beds? Fresh Eggs from your Chicken Coop? RV Gate? Cul-de-Sac? We got you covered right here!! Owner's Suite has dual-sink vanity, combo shower/tub, walk-in-closet, & private patio near Garden Beds. Alley Access at Backyard RV Gate. Attached: upgrades/improvements list...Not into Chickens-Seller can remove Coop

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
 

$445,500$544,500$495,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,719
Property Tax -$358
Property Insurance -$74
Property Management Fees -$99
CASH FLOW
-$129

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.

$495,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.43%

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$1.6M

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$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$19,332

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
  • $2,325

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0003$2,2004$2,3505$2,495
$2,495
RENT COMPS ANALYSIS
  • 1331 E Carmen Street Tempe, AZ 1
    • 4 beds 2 baths ∙ 2,378 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,378 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1504 E Julie Drive Tempe, AZ 2
    • 4 beds 2 baths ∙ 2,119 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,119 Sqft ∙ Built 1973
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
  • 1880 E La Donna Drive Tempe, AZ 3
    • 4 beds 2 baths ∙ 2,301 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,301 Sqft ∙ Built 1973
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
  • 5627 S Jolly Roger Road Tempe, AZ 4
    • 4 beds 4 baths ∙ 2,478 Sqft ∙ Built 1972 4 beds 4 baths ∙ 2,478 Sqft ∙ Built 1972
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $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
Cynthia Schulte
Keller Williams Arizona Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6185873
Last Updated: 01/28/2021
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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