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2030 E Aspen Drive Tempe, AZ 85282

3 Beds 2 Baths 1,861 sqft Built 1972

$407,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $218.70
  • 4 Days on Market
  • MLS # : 6167405
  • Updated Date : 12/05/2020 at 07:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,861 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Phoenix

Listing Agent's Description

Experience peace of mind in your very own Spanish style hacienda home located in the quiet and sought-after neighborhood of Shalimar. Enter the walled villa into a gated courtyard where you will enjoy entertaining guests and swimming in total privacy. Each of the 3 oversized bedrooms is split from the others. The open-air atrium is accessable to two of the bedrooms. The second & third bedrooms also have direct access to the back yard. The charming floor plan includes vaulted ceilings with exposed beams and a two-way fireplace. This home has been loved and very well maintained by the current owners with major upgrades to the flooring, kitchen, baths, AC and roof completed over the past 5 - 6 years. This non-HOA community is very unique. Schedule an appointment to see this home today.

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
 

$366,300$447,700$407,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,502
Property Tax -$268
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
$8

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.

$407,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.48%

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$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,605

INVESTMENT

$113,605

Down Payment
$101,750
Rehab Estimate
$5,750
Closing Costs
$6,105

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,502

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $101,750
Loan Amount $305,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$31,108

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,945

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,799
1$1,7992$1,8003$1,8954$1,9405$2,100
$2,100
RENT COMPS ANALYSIS
  • 2030 E Aspen Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $1.04
    •  
  • 1831 S Torre Molinos Circle Tempe, AZ 1
    • 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 1974
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $1.05
    •  
  • 2063 E Aspen Drive Tempe, AZ 2
    • 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
    •  
  • 1960 E Cairo Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1970
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.08
    •  
  • 2009 E Cairo Drive Tempe, AZ 5
    • 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1966 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1966
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.06
    •  
PROPERTY LISTING DETAILS
Michael A Menefee
Keller Williams Realty Phoenix
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167405
Last Updated: 12/05/2020
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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