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1851 E Palmcroft Drive Tempe, AZ 85282

4 Beds 2 Baths 1,961 sqft Built 1962

$359,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $183.07
  • 2 Days on Market
  • MLS # : 6173172
  • Updated Date : 12/19/2020 at 12:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,961 sqft
  • Baths : 2 full
Listing Agent

Infinity & Associates Real Estate

Listing Agent's Description

Welcome home to a 4 bedroom, block built, corner lot home with a large fenced grassy front yard. New roof, replaced just a few years ago. New gas hot water heater, replaced within the past two years. New kitchen countertops in 2020. New living room carpet as well as three of the bedrooms in 2020. New interior paint in 2020. New garbage disposal in 2017. Huge 4th bedroom, nearly 20x20 which has a separate outside entrance. This room could be used as guest quarters, a mother-in-law suite, exercise room, office, craft, game or hobby room, etc. It's also right off of the laundry room. Light rail stop is close at McClintock and Apache. N/S exposure. Ceiling fans. Washer and dryer included. Block fenced backyard with covered patio and storage shed. Storage room next to carport.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alameda

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Alameda

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550160016501700Rent in $10001711

* 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
Curry Elementary School Primary Regular 560 34 3
Connolly Middle School Middle Regular 1,058 57 6
Mcclintock High School High Regular 1,771 81 6

Curry Elementary School

  • Education Level: Primary
  • # of students: 560
  • # of teachers: 34
3
GreatSchools Rating

Connolly Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 57
6
GreatSchools Rating

Mcclintock High School

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

$323,100$394,900$359,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,325
Property Tax -$236
Property Insurance -$65
Property Management Fees -$99
CASH FLOW
$135

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$359,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$41,102

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,946

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7953$1,8004$1,8005$2,195
$2,195
RENT COMPS ANALYSIS
  • 1851 E Palmcroft Drive Tempe, AZ 1
    • 4 beds 2 baths ∙ 1,961 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,961 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1732 E Penny Drive Tempe, AZ 2
    • 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 1971
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.02
    •  
  • 1829 E Palmcroft Drive Tempe, AZ 3
    • 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 1960 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 1960
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 2063 E Aspen Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 1973
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 1893 E Concorda Drive Tempe, AZ 5
    • 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 1962
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.04
    •  
PROPERTY LISTING DETAILS
Dan Kilde
Infinity & Associates Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6173172
Last Updated: 12/19/2020
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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