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206 E Paseo Way Tempe, AZ 85283

4 Beds 2 Baths 2,172 sqft Built 1974

$450,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $207.18
  • 3 Days on Market
  • MLS # : 6195423
  • Updated Date : 03/12/2021 at 19:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,172 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

SELLER IS HIGHLY MOTIVATED BRING ALL OFFERS!!! LOCATION is what this property is all about, In the heart of Tempe, with a pool. RV GATE, ACCESS to the 101 and the 60 less than 5 min to each Highway. Walk less than 2 minutes to GET TO KIWANIS PARK. GOLFING, SHOPPING REC CENTER OR JUST ENJOY A BEAUTIFUL WALK TO THE PARK!!! THIS PROPERTY IS SINGLE LEVEL AND MOST IMPORTANTLY NO HOA!!! More pictures to come!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Kiwanis - the Lakes

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k358k

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

Neighborhood: Kiwanis - the Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9681981

* 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
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,563
Property Tax -$325
Property Insurance -$70
Property Management Fees -$99
CASH FLOW
$23

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.

$450,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 8.4%
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$1.4M$1.6M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$26,977

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,340

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,945
1$1,9452$2,0803$2,1004$2,1755$2,195
$2,195
RENT COMPS ANALYSIS
  • 206 E Paseo Way Tempe, AZ 2
    • 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 1974 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.96
    •  
  • 211 E Fleet Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1973
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $1.06
    •  
  • 7419 S College Avenue Tempe, AZ 3
    • 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 1978
    property image
    LEASED 03/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
  • 225 E Strahan Drive Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1974
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $1.10
    •  
  • 813 E Todd Drive Tempe, AZ 5
    • 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 1977
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.11
    •  
PROPERTY LISTING DETAILS
Terrance Joseph
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6195423
Last Updated: 03/12/2021
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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