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1848 E Jeanine Drive Tempe, AZ 85284

4 Beds 3 Baths 2,475 sqft Built 1981

$560,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $226.26
  • 3 Days on Market
  • MLS # : 6187391
  • Updated Date : 01/29/2021 at 19:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,475 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad

Listing Agent's Description

VACANT! Updated pool home in Alta Mira! 4 bedroom, 2.5 bath! NEW interior paint! NEW flooring throughout, including new carpet in the bedrooms. Kitchen has new quartz countertops, new stainless range, microwave and dishwasher, backsplash and large island. All bathrooms have new quartz countertops. Backyard has private pool and backs Goodwin park.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alta Mira

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k484k

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

Neighborhood: Alta Mira

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $10002188

* 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
Kyrene Del Cielo School Primary Regular 786 41 9
Kyrene Aprende Middle School Middle Regular 1,040 56 9
Corona Del Sol High School High Regular 2,781 114 7

Kyrene Del Cielo School

  • Education Level: Primary
  • # of students: 786
  • # of teachers: 41
9
GreatSchools Rating

Kyrene Aprende Middle School

  • Education Level: Middle
  • # of students: 1,040
  • # of teachers: 56
9
GreatSchools Rating

Corona Del Sol High School

  • Education Level: High
  • # of students: 2,781
  • # of teachers: 114
7
GreatSchools Rating
 

$504,000$616,000$560,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,945
Property Tax -$405
Property Insurance -$75
Property Management Fees -$99
CASH FLOW
-$424

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.

$560,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 1.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,174

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,166

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,999
1$1,9992$2,0953$2,1004$2,1005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1848 E Jeanine Drive Tempe, AZ 4
    • 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 860 N Madrid Lane Chandler, AZ 1
    • 4 beds 3 baths ∙ 2,393 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,393 Sqft ∙ Built 1995
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.84
    •  
  • 932 N Hazelton Court Chandler, AZ 2
    • 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 1992
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.84
    •  
  • 3912 W Rene Drive Chandler, AZ 3
    • 5 beds 3 baths ∙ 2,329 Sqft ∙ Built 1991 5 beds 3 baths ∙ 2,329 Sqft ∙ Built 1991
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
  • 4146 W Kent Drive Chandler, AZ 5
    • 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1986
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.92
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187391
Last Updated: 01/29/2021
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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