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142 E Bonita Way Tempe, AZ 85281

3 Beds 4 Baths 2,414 sqft Built 1953

$619,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $256.42
  • 3 Days on Market
  • MLS # : 6181299
  • Updated Date : 01/15/2021 at 17:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,414 sqft
  • Baths : 4 full
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

Historic 1953 Mid Century beauty with guest house, located in the Heart of Old Town Tempe. Updated additions done true to the original style. This 3 bed/3 bath single level home is nestled in the highly sought after University Estates. Located on a large irrigated lot, with front and back patios. This light filled home features bamboo flooring that wraps throughout the home. Upon entry, the living room has a corner picture window with views of back yard and patio. The formal dining area is open and bright with French doors to large back patio overlooking the pool. The kitchen is the star of this home, with custom cabinetry, stone counters, all stainless appliances w/ built in wine fridge. 2 kitchen islands

SEE MORE

PRICE & RENT TRENDS

Neighborhood: University Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k367k

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

Neighborhood: University Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8121981

* 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
Broadmor Elementary School Primary Regular 673 35 8
Connolly Middle School Middle Regular 1,058 57 6
Tempe High School High Regular 1,550 78 3

Broadmor Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 35
8
GreatSchools Rating

Connolly Middle School

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

Tempe High School

  • Education Level: High
  • # of students: 1,550
  • # of teachers: 78
3
GreatSchools Rating
 

$557,100$680,900$619,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$2,150
Property Tax -$408
Property Insurance -$74
Property Management Fees -$99
CASH FLOW
-$641

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.

$619,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.9%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$169,785

INVESTMENT

$169,785

Down Payment
$154,750
Rehab Estimate
$5,750
Closing Costs
$9,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,150

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $154,750
Loan Amount $464,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,532

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
  • $2,281

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9553$2,0954$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 142 E Bonita Way Tempe, AZ 1
    • 3 beds 4 baths ∙ 2,414 Sqft ∙ Built 1953 3 beds 4 baths ∙ 2,414 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1610 S College Avenue Tempe, AZ 2
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1953 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1953
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,955
    • $0.81
    •  
  • 522 E Balboa Drive Tempe, AZ 3
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1965 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1965
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.00
    •  
  • 1623 E Palmcroft Drive Tempe, AZ 4
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1969
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.00
    •  
  • 117 W Geneva Circle Tempe, AZ 5
    • 4 beds 3 baths ∙ 2,269 Sqft ∙ Built 1960 4 beds 3 baths ∙ 2,269 Sqft ∙ Built 1960
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.97
    •  
PROPERTY LISTING DETAILS
Debbie Roberts
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181299
Last Updated: 01/15/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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