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1837 E Tulane Drive Tempe, AZ 85283

4 Beds 2 Baths 2,679 sqft Built 1975

$574,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $214.26
  • 1 Days on Market
  • MLS # : 6207144
  • Updated Date : 03/14/2021 at 02:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,679 sqft
  • Baths : 2 full
Listing Agent

Az Flat Fee

Listing Agent's Description

Recent remodel on Corner lot, wood floors, new cabinetry, marble counter tops including laundry room, dual (two) newer high efficiency Trane AC units, newer roof, insulation blown into attic, new top of the line Anderson double slider windows and French doors throughout, wainscotting and crown molding throughout. Vaulted ceilings and real wood beams throughout. Converted garage to livable area with soft water loop that could be plumed for mother in law suite that has separate side entrance. Working garage door maintained with 4 feet of storage. Also, garage can be restored for air conditioned vehicles or workshop by merely knocking down one wall. New can lights throughout, sheds convey including brand new Tuffshed. Newer irrigation and drip system.

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
 

$516,600$631,400$574,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,994
Property Tax -$378
Property Insurance -$79
Property Management Fees -$99
CASH FLOW
-$270

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.

$574,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.40%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$157,860

INVESTMENT

$157,860

Down Payment
$143,500
Rehab Estimate
$5,750
Closing Costs
$8,610

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,994

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,500
Loan Amount $430,500
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$13,407

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,753

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,280
1$2,2802$2,3953$2,5004$2,5705$3,100
$3,100
RENT COMPS ANALYSIS
  • 1837 E Tulane Drive Tempe, AZ 1
    • 4 beds 2 baths ∙ 2,679 Sqft ∙ Built 1975 4 beds 2 baths ∙ 2,679 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.85
    •  
  • 4830 S Kachina Drive Tempe, AZ 2
    • 4 beds 2 baths ∙ 2,570 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,570 Sqft ∙ Built 1971
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.93
    •  
  • 1427 E Bayview Drive Tempe, AZ 3
    • 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1972
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.93
    •  
  • 1303 E Donner Drive Tempe, AZ 4
    • 5 beds 4 baths ∙ 2,360 Sqft ∙ Built 1971 5 beds 4 baths ∙ 2,360 Sqft ∙ Built 1971
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $1.09
    •  
  • 1616 E Windjammer Way Tempe, AZ 5
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1973
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.16
    •  
PROPERTY LISTING DETAILS
Brian J Cunningham
Az Flat Fee
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6207144
Last Updated: 03/14/2021
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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