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1605 E Windjammer Way Tempe, AZ 85283

3 Beds 2 Baths 1,631 sqft Built 1973

$394,900

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $242.12
  • 2 Days on Market
  • MLS # : 6160038
  • Updated Date : 11/14/2020 at 14:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,631 sqft
  • Baths : 2 full
Listing Agent

Heins Realty

Listing Agent's Description

Fabulous Lakes waterfront community. Lake only 1/2 block to boat & fish. KT incl IKEA cabinets, tile backsplash & custom granite counters -KT & Island, Dry Bar. Great Rm entry-lite & brite & open to KT. $8k travertine floors. Granite bathrm & hallway counters. Travertine bathrm (2) shower surround. New wood grain plank floors in BDRS. Formal DRM w/built in custom hutch. Hall bathrm skylite. Glass bowl sink Master Bath. 2nd & 3rd BDRS over look pool. $11,000 tile roof 2020 & 2019 foamed garage roof. 2020 patio cover. Popcorn removed. Slate entry. Wheel chair accessible. Sparkling pool w/new Cool Deck. Private courtyd gate. Hi south wall for privacy. East facing patio w/ orange, grapefruit & lemon trees. Veggie gardens-artichokes, eggplant, chilis, tom, etc. New 50 drip system & gutte

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
 

$355,410$434,390$394,900

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,457
Property Tax -$263
Property Insurance -$59
HOA -$35
Property Management Fees -$99
CASH FLOW
-$333

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.

$394,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,399

INVESTMENT

$110,399

Down Payment
$98,725
Rehab Estimate
$5,750
Closing Costs
$5,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,725
Loan Amount $296,175
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,079

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
  • $1,717

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5003$1,6654$1,7255$1,750
$1,750
RENT COMPS ANALYSIS
  • 1605 E Windjammer Way Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1609 E Baker Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1970
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 4810 S Birch Street Tempe, AZ 3
    • 4 beds 3 baths ∙ 1,656 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,656 Sqft ∙ Built 1971
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $1.01
    •  
  • 1915 E Colgate Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1972
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.06
    •  
  • 1527 E Westwind Way Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1973
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.17
    •  
PROPERTY LISTING DETAILS
Ann L. Heins
Heins Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160038
Last Updated: 11/14/2020
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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