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1857 E Drake Drive Tempe, AZ 85283

3 Beds 2 Baths 1,758 sqft Built 1994

$399,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $227.47
  • 2 Days on Market
  • MLS # : 6160818
  • Updated Date : 11/28/2020 at 02:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,758 sqft
  • Baths : 2 full
Listing Agent

Perfect Choice Real Estate

Listing Agent's Description

Lovely single level home in this lake community. Beautiful granite tile counter tops, granite back splash, neutral carpet. Formal living & dining rooms. Kitchen opens to family room Big master bedroom w/ double sink vanity, walk in shower in master, walk-in closet & private water closet. Enjoy the yard from the covered patio. Mature trees, grass area. Enjoy the lake and paths! Superior location close to freeways, parks and shopping.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Oasis at Anozira

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k507k

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

Neighborhood: Oasis at Anozira

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100220023002400Rent in $10002402

* 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 De Los Ninos College Bound Dual Language Academy Primary Regular 706 40 6
Kyrene Middle School College Preparatory Academy Middle Regular 1,056 55 6
Marcos De Niza High School High Regular 1,582 76 4

Kyrene De Los Ninos College Bound Dual Language Academy

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 40
6
GreatSchools Rating

Kyrene Middle School College Preparatory Academy

  • Education Level: Middle
  • # of students: 1,056
  • # of teachers: 55
6
GreatSchools Rating

Marcos De Niza High School

  • Education Level: High
  • # of students: 1,582
  • # of teachers: 76
4
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,475
Property Tax -$289
Property Insurance -$61
HOA -$70
Property Management Fees -$99
CASH FLOW
-$275

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.

$399,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.9%
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-$5.0k$0.0$5.0k$10k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$6,383

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,921

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,7503$1,9954$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 1857 E Drake Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.98
    •  
  • 1630 E Redfield Road Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1981
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.11
    •  
  • 1215 E Divot Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 1987
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.11
    •  
  • 2807 W Rosewood Drive Chandler, AZ 4
    • 4 beds 2 baths ∙ 1,932 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,932 Sqft ∙ Built 1979
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.06
    •  
  • 1517 E Gemini Drive Tempe, AZ 5
    • 4 beds 2 baths ∙ 1,923 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,923 Sqft ∙ Built 1976
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.09
    •  
PROPERTY LISTING DETAILS
James Watson
Perfect Choice Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160818
Last Updated: 11/28/2020
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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