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2045 E Howe Avenue Tempe, AZ 85281

3 Beds 1 Baths 896 sqft Built 1954

$259,000

List Price

$1,120

$1K - $1.2K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $289.06
  • 6 Days on Market
  • MLS # : 6168969
  • Updated Date : 12/10/2020 at 15:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 896 sqft
  • Baths : 1 full
Listing Agent

Exp Realty

Listing Agent's Description

Plenty of charm throughout this 1950's Bungalow style home. Neutral tile floor, vaulted ceilings, soothing palette, ceiling fans, & dining area. Stylish kitchen counters, newer SS oven hood, & handsome wood cabinets. Plush carpet in all bedrooms, ample closets, 1 full bath, & laundry room. Bonus Arizona room w/endless possibilities. Adorable guest house could be used as a studio. RV Gate. Take a tour today & stop renting!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Escalante

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k290k

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

Neighborhood: Escalante

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6151703

* 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
Thew Elementary School Primary Regular 645 37 1
Connolly Middle School Middle Regular 1,058 57 6
Mcclintock High School High Regular 1,771 81 6

Thew Elementary School

  • Education Level: Primary
  • # of students: 645
  • # of teachers: 37
1
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
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$956
Property Tax -$171
Property Insurance -$45
Property Management Fees -$99
CASH FLOW
-$150

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.

$259,000

PROJECTED PRICE

$1,120

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 12.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$956

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$7,037

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,268

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2503$1,3954$1,4505$1,700
$1,700
RENT COMPS ANALYSIS
  • 2045 E Howe Avenue Tempe, AZ 1
    • 3 beds 1 baths ∙ 896 Sqft ∙ Built 1954 3 beds 1 baths ∙ 896 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 525 N May -- #2 Mesa, AZ 2
    • 3 beds 2 baths ∙ 936 Sqft ∙ Built 1973 3 beds 2 baths ∙ 936 Sqft ∙ Built 1973
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.34
    •  
  • 1109 S Stratton Lane Tempe, AZ 3
    • 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1952
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.40
    •  
  • 2029 E Howe Avenue Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,156 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,156 Sqft ∙ Built 1954
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.25
    •  
  • 1115 S Hazelton Lane Tempe, AZ 5
    • 3 beds 1 baths ∙ 1,020 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,020 Sqft ∙ Built 1960
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.67
    •  
PROPERTY LISTING DETAILS
Anastasia Tsokas
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6168969
Last Updated: 12/10/2020
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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