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1512 E La Jolla Drive Tempe, AZ 85282

4 Beds 3 Baths 2,168 sqft Built 1968

$599,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $276.29
  • 2 Days on Market
  • MLS # : 6163650
  • Updated Date : 11/21/2020 at 17:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,168 sqft
  • Baths : 3 full
Listing Agent

West Usa Realty

Listing Agent's Description

RARE *Remodeled* ranch style home w/ MOTHER-IN-LAW/RENTAL suite, attached with its own separate courtyard entrance, own kitchen, own living room, & bathroom. This home isone of a kind and the configuration allows for many options. Spacious living rooms w/ LED can lighting & dual pane energy efficient windows throughout. New Kitchen with lotsof cabinets, eat at island, & beautiful Quartzite counter tops. FULL home non salt water softener system. New roof, New Installation, 2 New A/C units & new Ductworkthroughout. Ductwork is ran to the garage, keeps it nice and cool in summer(ready to be converted into a room for more living space)Backyard includes a covered patio, newpebble tec pool w/ new pool pump, large grass area and RV gate with 50 amp hook-up. Quick access to the US60 & LOOP

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
 

$539,100$658,900$599,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$2,210
Property Tax -$395
Property Insurance -$69
Property Management Fees -$99
CASH FLOW
-$733

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.

$599,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.34%

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$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,051

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,125

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,0404$2,0955$2,300
$2,300
RENT COMPS ANALYSIS
  • 1512 E La Jolla Drive Tempe, AZ 3
    • 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.94
    •  
  • 3918 S Oak Street Tempe, AZ 1
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1969
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
  • 4420 S Elm Street Tempe, AZ 2
    • 4 beds 2 baths ∙ 2,052 Sqft ∙ Built 1970 4 beds 2 baths ∙ 2,052 Sqft ∙ Built 1970
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.95
    •  
  • 3309 S Dorsey Lane Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1971
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.05
    •  
  • 3715 S Dorsey Lane Tempe, AZ 5
    • 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1968 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1968
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
PROPERTY LISTING DETAILS
Kamaili Adolpho
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163650
Last Updated: 11/21/2020
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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