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1622 E La Jolla Drive Tempe, AZ 85282

3 Beds 2 Baths 1,980 sqft Built 1969

$420,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $212.12
  • 4 Days on Market
  • MLS # : 6208745
  • Updated Date : 03/20/2021 at 22:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,980 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

This is it! Remodeled and ready for your special touches to make it your own. Gated front courtyard starts things off. Double door entry. Split floor plan with 3 bedrooms and 2 baths. Kitchen has it all with granite, stainless appliances, really pretty tile backsplash, solid wood cabinetry. Living room with wood burning fireplace AND family room off the kitchen and dining room. Sliders from the family room open to the covered patio and pebble style pool. Master has an oversized custom walk in shower. Double pane windows and newer interior and exterior doors. Large laundry room, great for extra storage. Great location and very nice neighborhood with no HOA.

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
 

$378,000$462,000$420,000

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 -$1,459
Property Tax -$277
Property Insurance -$66
Property Management Fees -$99
CASH FLOW
-$60

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.

$420,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$20,490

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
  • $1,871

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9003$1,9004$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 1622 E La Jolla Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3918 S Oak Street Tempe, AZ 2
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1969
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
  • 3933 S Oak Street Tempe, AZ 3
    • 3 beds 2 baths ∙ 2,132 Sqft ∙ Built 1968 3 beds 2 baths ∙ 2,132 Sqft ∙ Built 1968
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
  • 1263 E Hermosa Drive Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1964
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.99
    •  
  • 4420 S Elm Street Tempe, AZ 5
    • 4 beds 2 baths ∙ 2,052 Sqft ∙ Built 1970 4 beds 2 baths ∙ 2,052 Sqft ∙ Built 1970
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.95
    •  
PROPERTY LISTING DETAILS
Kristin D. Armbruster
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6208745
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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