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1822 E Tulane Drive Tempe, AZ 85283

3 Beds 2 Baths 2,214 sqft Built 1975

$450,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $203.25
  • 4 Days on Market
  • MLS # : 6177923
  • Updated Date : 01/08/2021 at 16:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,214 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Fantastic 3 bedroom, 2 bathroom home in the highly sought after Tempe Royal Palms neighborhood . This no HOA, ranch home offers a split floor plan, additional bedroom walk-in closet, two separate functional living areas, fireplace, indoor laundry, water-softner, extended garage storage, and separate back yard access from both the master bedroom and guest bathroom. Upgrades include all new tile flooring throughout, kitchen appliances, Silestone quartz-like counters, master bathroom, full interior paint, fixtures, and much more. Prime location with easy access to both freeways and shopping. This one won't last long.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Optimist Park Northwest

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Optimist Park Northwest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $10001981

* 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
Fuller Elementary School Primary Regular 610 34 9
Fees College Preparatory Middle School Middle Regular 925 59 4
Marcos De Niza High School High Regular 1,582 76 4

Fuller Elementary School

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 34
9
GreatSchools Rating

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
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,563
Property Tax -$296
Property Insurance -$70
Property Management Fees -$99
CASH FLOW
$201

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.

$450,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 8.3%
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$0.0$5.0k$10k$15k$20k$25k

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$44,110

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,236

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2304$2,2505$2,395
$2,395
RENT COMPS ANALYSIS
  • 1822 E Tulane Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 2,214 Sqft ∙ Built 1975 3 beds 2 baths ∙ 2,214 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $1.01
    •  
  • 2055 E Orion Street Tempe, AZ 1
    • 3 beds 2 baths ∙ 2,132 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,132 Sqft ∙ Built 1979
    property image
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
  • 1880 E La Donna Drive Tempe, AZ 2
    • 4 beds 2 baths ∙ 2,301 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,301 Sqft ∙ Built 1973
    property image
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
  • 1816 E Auburn Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 1973 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 1973
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
  • 1811 E Yale Drive Tempe, AZ 5
    • 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 1974 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 1974
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.08
    •  
PROPERTY LISTING DETAILS
Kenny Klaus
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6177923
Last Updated: 01/08/2021
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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