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1857 E Secretariat Drive Tempe, AZ 85284

3 Beds 2 Baths 1,408 sqft Built 1984

$345,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $245.03
  • 2 Days on Market
  • MLS # : 6196140
  • Updated Date : 02/27/2021 at 18:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,408 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Location Location Location! A great Tempe Neighborhood - Kyrene schools - Fireplace - Community pool - Loop 101 just 1/2 mile away - The entire living is Downstairs except for the LOFT which would make a great office for those who work from home but want to keep things separate! New Roof being installed in March!Professional Photos will be added Sunday.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Tempe Royal Palms

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Tempe Royal Palms

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
C.i. Waggoner School Primary Regular 612 34 8
Kyrene Middle School College Preparatory Academy Middle Regular 1,056 55 6
Corona Del Sol High School High Regular 2,781 114 7

C.i. Waggoner School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 34
8
GreatSchools Rating

Kyrene Middle School College Preparatory Academy

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

Corona Del Sol High School

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

$310,500$379,500$345,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,198
Property Tax -$249
Property Insurance -$55
HOA -$58
Property Management Fees -$99
CASH FLOW
-$209

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.

$345,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,115

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,450
$1,450
RENT COMPS ANALYSIS
  • 1857 E Secretariat Drive Tempe, AZ
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.03
    •  
PROPERTY LISTING DETAILS
Barbara Drake
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6196140
Last Updated: 02/27/2021
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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