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2119 E Tulane Drive Tempe, AZ 85283

4 Beds 2 Baths 1,647 sqft Built 1976

$400,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $242.87
  • 2 Days on Market
  • MLS # : 6184912
  • Updated Date : 01/23/2021 at 15:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,647 sqft
  • Baths : 2 full
Listing Agent

Real Estate Brokers Intl

Listing Agent's Description

This beautiful four bedroom, two bathroom home on a corner lot is move in ready! It was fully renovated in 2019, including a new roof, AC unit, windows, garage door, and so much more! When walking in the front door, you will instantly notice how bright and open the home is. The kitchen has new white quartz countertops, cabinets and stainless steel appliances. The floorplan includes one room on the opposite side of the house, perfect for an office, with it's own mini-split AC unit to keep the room extra cool. Relax in the grassy backyard under the covered patio. Backyard also has an RV gate and 20'x8' Tuff Shed. You can't beat the location of this home! Conveniently located in Optimist Park with easy access to shopping, restaurants and the Loop-101 and US-60.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Optimist Park Northeast

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Optimist Park Northeast

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9241981

* 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
Fuller Elementary School Primary Regular 610 34 9
Fees College Preparatory Middle School Middle Regular 925 59 4
Marcos De Niza High School High Regular 1,582 76 4

Fuller Elementary School

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 34
9
GreatSchools Rating

Fees College Preparatory Middle School

  • Education Level: Middle
  • # of students: 925
  • # of teachers: 59
4
GreatSchools Rating

Marcos De Niza High School

  • Education Level: High
  • # of students: 1,582
  • # of teachers: 76
4
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,389
Property Tax -$263
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
-$101

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.

$400,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$14,965

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
  • $1,861

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8253$1,9004$1,9505$2,050
$2,050
RENT COMPS ANALYSIS
  • 2119 E Tulane Drive Tempe, AZ 1
    • 4 beds 2 baths ∙ 1,647 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,647 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2038 E Harvard Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1974
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.10
    •  
  • 2156 E Apollo Avenue Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1977
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.17
    •  
  • 2037 E Harvard Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1974
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.10
    •  
  • 2152 E Apollo Avenue Tempe, AZ 5
    • 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 1977
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.15
    •  
PROPERTY LISTING DETAILS
Kathryn Marie Pede
Real Estate Brokers Intl
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184912
Last Updated: 01/23/2021
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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