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211 E Hermosa Drive Tempe, AZ 85282

5 Beds 2 Baths 2,051 sqft Built 1963

$474,900

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $231.55
  • 3 Days on Market
  • MLS # : 6165225
  • Updated Date : 11/27/2020 at 10:04
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,051 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

VACANT! Come see this GEM of a property in Tempe. 5 bedrooms, 2 baths with lots of rustic features. Double sided, painted brick fireplace with wood beams in the living room. In the Kitchen/dining room you will find built-in storage, rich cabinets, cook-top and range hood with granite countertops and wall oven. Sparkling pool in the backyard with a large covered patio! Don't miss out on this one!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Tempe Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k292k

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

Neighborhood: Tempe Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550160016501700Rent in $10001703

* 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
Carminati Elementary School Primary Regular 372 24 4
Connolly Middle School Middle Regular 1,058 57 6
Tempe High School High Regular 1,550 78 3

Carminati Elementary School

  • Education Level: Primary
  • # of students: 372
  • # of teachers: 24
4
GreatSchools Rating

Connolly Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 57
6
GreatSchools Rating

Tempe High School

  • Education Level: High
  • # of students: 1,550
  • # of teachers: 78
3
GreatSchools Rating
 

$427,410$522,390$474,900

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,752
Property Tax -$313
Property Insurance -$67
Property Management Fees -$99
CASH FLOW
-$221

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.

$474,900

PROJECTED PRICE

$2,010

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.9%
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$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,599

INVESTMENT

$131,599

Down Payment
$118,725
Rehab Estimate
$5,750
Closing Costs
$7,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,752

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,725
Loan Amount $356,175
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$16,365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,251

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0103$2,1004$2,3955$2,550
$2,550
RENT COMPS ANALYSIS
  • 211 E Hermosa Drive Tempe, AZ 2
    • 5 beds 2 baths ∙ 2,051 Sqft ∙ Built 1963 5 beds 2 baths ∙ 2,051 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.98
    •  
  • 428 E Carter Drive Tempe, AZ 1
    • 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 1970
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.01
    •  
  • 446 E Carter Drive Tempe, AZ 3
    • 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1970
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.07
    •  
  • 439 E Malibu Drive Tempe, AZ 4
    • 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 1961 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 1961
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.12
    •  
  • 137 E Riviera Drive Tempe, AZ 5
    • 5 beds 2 baths ∙ 2,148 Sqft ∙ Built 1963 5 beds 2 baths ∙ 2,148 Sqft ∙ Built 1963
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.19
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165225
Last Updated: 11/27/2020
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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