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1410 E Manhatton Drive Tempe, AZ 85282

4 Beds 4 Baths 2,360 sqft Built 1969

$495,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1969
  • Price/Sqft : $209.75
  • 5 Days on Market
  • MLS # : 6154093
  • Updated Date : 10/30/2020 at 21:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,360 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Amazing craftsman-style home in the heart of Tempe, two miles from ASU's main campus and centrally located right off the US 60 freeway. Shopping and dining are within walking distance and it's only minutes from Tempe Marketplace. This fully renovated tri-level, 4 bedroom, 3.5 bath home features, custom-kitchen cabinets, gas stove, luxury chiseled-edge travertine floors, custom built iron-faced fireplace, two RV gates, pool with a waterfall and two additional storage sheds. Basement features full bedroom and bathroom with secondary living room, custom wall-to-wall book shelf and wet bar. Custom built-in bedroom reading nook Mature vegetation, large trees for shade. This home has it all and more!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alameda

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Alameda

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550160016501700Rent in $10001711

* 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
Hudson Elementary School Primary Regular 476 26 6
Connolly Middle School Middle Regular 1,058 57 6
Mcclintock High School High Regular 1,771 81 6

Hudson Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 26
6
GreatSchools Rating

Connolly Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 57
6
GreatSchools Rating

Mcclintock High School

  • Education Level: High
  • # of students: 1,771
  • # of teachers: 81
6
GreatSchools Rating
 

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

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,826
Property Tax -$326
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
-$55

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

$2,270

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.4%
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$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$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 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$31,653

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,572

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,270
1$2,2702$2,3003$2,5004$2,6455$2,695
$2,695
RENT COMPS ANALYSIS
  • 1410 E Manhatton Drive Tempe, AZ 1
    • 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1969 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.96
    •  
  • 3715 S Dorsey Lane Tempe, AZ 2
    • 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1968 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1968
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
  • 1263 E Manhatton Drive Tempe, AZ 3
    • 5 beds 3 baths ∙ 2,211 Sqft ∙ Built 1964 5 beds 3 baths ∙ 2,211 Sqft ∙ Built 1964
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.13
    •  
  • 1004 E Hermosa Drive Tempe, AZ 4
    • 5 beds 3 baths ∙ 2,369 Sqft ∙ Built 1966 5 beds 3 baths ∙ 2,369 Sqft ∙ Built 1966
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,645
    • $1.12
    •  
  • 3912 S Butte Avenue Tempe, AZ 5
    • 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1969 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1969
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.14
    •  
PROPERTY LISTING DETAILS
Dion F Fowler
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154093
Last Updated: 10/30/2020
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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