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1608 E Broadmor Drive Tempe, AZ 85282

3 Beds 2 Baths 1,629 sqft Built 1969

$389,999

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $239.41
  • 3 Days on Market
  • MLS # : 6176974
  • Updated Date : 01/17/2021 at 02:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,629 sqft
  • Baths : 2 full
Listing Agent

Bliss Realty & Investments

Listing Agent's Description

Updated 3 Bedroom 2 Bath Beauty in Tempe w/ Perfect Pool, RV Gate/Parking & No HOA, 1 Car Garage, Triple Wide Driveway, Finished Bonus Room off Garage--Makes Great Office or Room for Projects. Home has Spacious Layout w/ Living Rm Connecting to Kitchen & Family Rm w/ Open Half Wall. Beautiful Kitchen w/ Granite Counters & Full Backsplash, Custom Lighting, Long Breakfast Bar w/Yards of Cabinet Space Joins to Family Rm w/ itsHandsome Fireplace & Extra Wide Arcadia Doors to Long Covered Patio & Fenced Pool. Well Maintained, All Appliances Are Included and Enjoy Great Energy Savings with N/S Exposure; Block Construction & Ceiling Fans Throughout. NO HOA Neighborhood!! Close to Fabulous Tempe Shopping, Spring TrainingBaseball, ASU, & Nearby Access to I-10, Lp 101, and Hwy 60.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Meyer Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Meyer Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550160016501700Rent in $10001703

* 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
 

$350,999$428,999$389,999

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,355
Property Tax -$257
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
$71

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.

$389,999

PROJECTED PRICE

$1,840

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.7%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,499
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$30,124

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,731

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,7954$1,8005$1,840
$1,840
RENT COMPS ANALYSIS
  • 1608 E Broadmor Drive Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $1.13
    •  
  • 2220 S Kachina Drive Tempe, AZ 1
    • 4 beds 2 baths ∙ 1,476 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,476 Sqft ∙ Built 1971
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.08
    •  
  • 1233 E Broadmor Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1965
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.07
    •  
  • 1732 E Penny Drive Tempe, AZ 3
    • 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 1971
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.02
    •  
  • 1719 E Gaylon Drive Tempe, AZ 4
    • 4 beds 3 baths ∙ 1,664 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,664 Sqft ∙ Built 1971
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.08
    •  
PROPERTY LISTING DETAILS
Mara Benson
Bliss Realty & Investments
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176974
Last Updated: 01/17/2021
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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