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PROPERTY INFO
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.
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PRICE & RENT TRENDS
Neighborhood: Optimist Park Northwest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Optimist Park Northwest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$125,000
LOAN DETAILS
$1,563
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $112,500 |
| Loan Amount | $337,500 |
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
-
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
Keller Williams Integrity First
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6177923
Last Updated: 01/08/2021
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.
