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2022 E Carmen Street Tempe, AZ 85283

4 Beds 2 Baths 2,818 sqft Built 1990

$730,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $259.05
  • 4 Days on Market
  • MLS # : 6199030
  • Updated Date : 02/28/2021 at 01:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,818 sqft
  • Baths : 2 full
Listing Agent

Crossroads Brokerage

Listing Agent's Description

MOVE-IN READY - Amenities/upgrades include the following: Single level, 4BR/2BA split floor plan on a large cul-de-sac lot with NO HOA NEW ROOF installed January 2021 with transferable warranty (original tiles retained) Fresh interior paint AC/Heat pump units (2.5 & 4 ton) replaced in January 2020 Energy efficient triple-pane windows installed 2017 Open eat-in kitchen with island, corian counters, attached pantry, plant shelves and cupboards Maytag washer/dryer, overhead cabinets, countertop workspace, sink and storage room Huge living room and formal dining area, overhead chandelier Open family room with wood shutters, brick fireplace. Extra wide, wheelchair accessible main hallway with grab bars/safety handles in master bath. PLUS SO MUCH MORE!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Camelot Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k460k

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

Neighborhood: Camelot Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $10002517

* 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
 

$657,000$803,000$730,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$2,536
Property Tax -$527
Property Insurance -$82
Property Management Fees -$99
CASH FLOW
-$514

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.

$730,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.37%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$199,200

INVESTMENT

$199,200

Down Payment
$182,500
Rehab Estimate
$5,750
Closing Costs
$10,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,536

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $182,500
Loan Amount $547,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,988

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,741

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5953$2,5954$2,7305$2,800
$2,800
RENT COMPS ANALYSIS
  • 2022 E Carmen Street Tempe, AZ 4
    • 4 beds 2 baths ∙ 2,818 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,818 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $0.97
    •  
  • 5627 S Jolly Roger Road Tempe, AZ 1
    • 4 beds 4 baths ∙ 2,478 Sqft ∙ Built 1972 4 beds 4 baths ∙ 2,478 Sqft ∙ Built 1972
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.95
    •  
  • 1970 E Mcnair Drive Tempe, AZ 2
    • 4 beds 3 baths ∙ 2,769 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,769 Sqft ∙ Built 1995
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.94
    •  
  • 2508 W Monte Avenue Mesa, AZ 3
    • 3 beds 3 baths ∙ 2,662 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,662 Sqft ∙ Built 1979
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.97
    •  
  • 1970 E Todd Drive Tempe, AZ 5
    • 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 1994
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jon T Sherwood
Crossroads Brokerage
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199030
Last Updated: 02/28/2021
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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