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1406 E Bayview Drive Tempe, AZ 85283

4 Beds 3 Baths 2,691 sqft Built 1971

$449,900

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $167.19
  • 3 Days on Market
  • MLS # : 6170457
  • Updated Date : 12/18/2020 at 14:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,691 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Excalibur

Listing Agent's Description

This beautiful 4 bedroom single family home is located in the highly desirable LAKES community in Tempe. With north/south exposure, full spectrum of community amenities, easy access to the 101 & 60 freeways and walking distance to all 3 schools, groceries, and multiple entertainment areas. The home boasts a new roof in 2020, new landscaping in both front & back yards, new interior/exterior paint, new kitchen appliances, partially updated flooring, and partially updated wiring & plumbing. The soaring ceilings and abundance of natural light contribute to a bright and open space. The floor plan has a family room with a wood burning fireplace, a living room, formal dining room, bonus/game room, 4 bedrooms, 2.5 bathrooms and a huge master suite complete with sitting area and a fireplace.

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
Rover Elementary School Primary Regular 511 29 7
Rover Elementary School Middle Regular 511 29 7
Marcos De Niza High School High Regular 1,582 76 4

Rover Elementary School

  • Education Level: Primary
  • # of students: 511
  • # of teachers: 29
7
GreatSchools Rating

Rover Elementary School

  • Education Level: Middle
  • # of students: 511
  • # of teachers: 29
7
GreatSchools Rating

Marcos De Niza High School

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

$404,910$494,890$449,900

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,660
Property Tax -$296
Property Insurance -$80
HOA -$35
Property Management Fees -$99
CASH FLOW
$310

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.

$449,900

PROJECTED PRICE

$2,480

PROJECTED RENT

0.55%

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$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$64,825

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
  • $2,765

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,3953$2,5004$2,5705$3,100
$3,100
RENT COMPS ANALYSIS
  • 1406 E Bayview Drive Tempe, AZ 1
    • 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4830 S Kachina Drive Tempe, AZ 2
    • 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 3
    • 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
    •  
  • 1303 E Donner Drive Tempe, AZ 4
    • 5 beds 4 baths ∙ 2,360 Sqft ∙ Built 1971 5 beds 4 baths ∙ 2,360 Sqft ∙ Built 1971
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $1.09
    •  
  • 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
Jason L Penrose
Re/max Excalibur
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170457
Last Updated: 12/18/2020
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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