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1890 E Gemini Drive Tempe, AZ 85283

3 Beds 2 Baths 1,798 sqft Built 1973

$425,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $236.37
  • 2 Days on Market
  • MLS # : 6160479
  • Updated Date : 11/13/2020 at 18:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,798 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

BEAUTIFUL remodeled home in the heart of Tempe! The entry opens up to a spacious living room with tons of natural light. The chef's kitchen boasts a HUGE island, custom two tone cabinets, quartz counters, subway tile backsplash, and overlooks the family room with French door exit to the backyard. Spacious master retreat with walk-in closet, dual vanity, and subway tile step-in shower. Generous secondary bedrooms and full guest bath with dual vanity & subway tile bath surround. Features include wood-look tile, recessed lighting throughout, granite counters in the baths, and designer two tone paint. Backyard has a diving pool, tons of grass, paved sitting area, and extended covered patio. Great location near freeways, shopping & dining, and ASU, this one won't last!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Optimist Park Southwest

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Optimist Park Southwest

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
 

$382,500$467,500$425,000

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 -$1,568
Property Tax -$280
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$289

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.

$425,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.1%
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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$7,673

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
  • $0.96

    LIST RENT PER SQFT
  • $1,829

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,699
1$1,6992$1,7003$1,7204$1,9005$2,100
$2,100
RENT COMPS ANALYSIS
  • 1890 E Gemini Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.96
    •  
  • 6212 S Taylor Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 1973
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.96
    •  
  • 1912 E Libra Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1973
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
  • 1984 E Orion Street Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,953 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,953 Sqft ∙ Built 1973
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
  • 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
Kyle J. N. Bates
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160479
Last Updated: 11/13/2020
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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