Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1638 E 12th Street Tempe, AZ 85281

3 Beds 2 Baths 1,231 sqft Built 2009

$462,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $375.30
  • 2 Days on Market
  • MLS # : 6263331
  • Updated Date : 07/12/2021 at 17:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,231 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

This lovely 3Bd, 2Ba, 2-car garage home sits in an ideal Location!! - 2 blocks from Light Rail, Close proximity to ASU, Tempe Marketplace & TempeTown Lake, close proximity to 101 & 202 interchange and to the 60 freeways. Open floor plan. Granite Counter Tops; RV Gate. Recent new HVAC 3.5 ton unit, Nicely landscaped front and back. Large patio, walkways around the house. No HOA! Built 2009. Seller is original owner.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: University Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k290k

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

Neighborhood: University Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6711703

* 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
Mcclintock High School High Regular 1,771 81 6

Mcclintock High School

  • Education Level: High
  • # of students: 1,771
  • # of teachers: 81
6
GreatSchools Rating
 

$415,800$508,200$462,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,605
Property Tax -$304
Property Insurance -$51
Property Management Fees -$99
CASH FLOW
-$629

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.

$462,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,180

INVESTMENT

$128,180

Down Payment
$115,500
Rehab Estimate
$5,750
Closing Costs
$6,930

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,500
Loan Amount $346,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$93

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,582

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,6003$1,6004$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 1638 E 12th Street Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,231 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,231 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.16
    •  
  • 1886 E Don Carlos Avenue #109 Tempe, AZ 2
    • 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 2004
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.23
    •  
  • 1886 E Don Carlos Avenue #160 Tempe, AZ 3
    • 3 beds 3 baths ∙ 1,303 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,303 Sqft ∙ Built 2004
    property image
    LEASED 05/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.23
    •  
  • 1886 E Don Carlos Avenue #169 Tempe, AZ 4
    • 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 2004
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.30
    •  
  • 1930 E Hayden Lane #111 Tempe, AZ 5
    • 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 2002
    property image
    LEASED 06/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.38
    •  
PROPERTY LISTING DETAILS
Philip Huerta
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6263331
Last Updated: 07/12/2021
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.

BESbswy