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1607 E Weathervane Lane Tempe, AZ 85283

4 Beds 4 Baths 2,370 sqft Built 1973

$649,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $273.84
  • 3 Days on Market
  • MLS # : 6209668
  • Updated Date : 03/20/2021 at 20:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,370 sqft
  • Baths : 3 full , 1 half
Listing Agent

Housing Exchange Realty

Listing Agent's Description

Design team has completely outdone itself! The Team completely Reconfigured / redesigned entire floor plan and made major capital improvements on this amazing modern home in The Lakes. The attention to detail is what separates this home from others. All permits were pulled and work has been done by a licensed contractor. This home has two Master bedrooms (1 up 1 down), Laundry room, Mud room and a great bonus game-room upstairs. Home was re-wired, new electrical panel, all new underground plumbing, new floor plan, new staircase and looks and feels like a brand new home! Walk in and you will be stunned with the contemporary metal and wood accents that blend well together. The kitchen has a great window looking out towards pool great for supervising kids! Come see and fall in Love!

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
Fees College Preparatory Middle School Middle Regular 925 59 4
Marcos De Niza High School High Regular 1,582 76 4

Fees College Preparatory Middle School

  • Education Level: Middle
  • # of students: 925
  • # of teachers: 59
4
GreatSchools Rating

Marcos De Niza High School

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

$584,100$713,900$649,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$2,254
Property Tax -$427
Property Insurance -$73
HOA -$35
Property Management Fees -$99
CASH FLOW
-$749

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.

$649,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.33%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,254

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$625

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,411

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,140
1$2,1402$2,2003$2,3504$2,3955$2,570
$2,570
RENT COMPS ANALYSIS
  • 1607 E Weathervane Lane Tempe, AZ 1
    • 4 beds 4 baths ∙ 2,370 Sqft ∙ Built 1973 4 beds 4 baths ∙ 2,370 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.90
    •  
  • 1232 E Harbor View Drive Tempe, AZ 2
    • 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 1972
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
  • 5627 S Jolly Roger Road Tempe, AZ 3
    • 4 beds 4 baths ∙ 2,478 Sqft ∙ Built 1972 4 beds 4 baths ∙ 2,478 Sqft ∙ Built 1972
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.95
    •  
  • 1811 E Yale Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 1974 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 1974
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.08
    •  
  • 1303 E Donner Drive Tempe, AZ 5
    • 5 beds 4 baths ∙ 2,360 Sqft ∙ Built 1971 5 beds 4 baths ∙ 2,360 Sqft ∙ Built 1971
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $1.09
    •  
PROPERTY LISTING DETAILS
Hector Flores
Housing Exchange Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6209668
Last Updated: 03/20/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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