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2203 S La Rosa Drive Tempe, AZ 85282

3 Beds 2 Baths 1,485 sqft Built 1958

$399,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $268.69
  • 7 Days on Market
  • MLS # : 6160958
  • Updated Date : 11/21/2020 at 21:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,485 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

Fantastic Opportunity not far from ASU Campus in charming Broadmor Vista neighborhood, classic single level ranch with 3 bedroom, 1 car garage with extra storage room, RV gate on a larger lot with a fenced pool. Updated with granite counters, tiled baths, dual pane windows, bamboo floors. Sale is subject to current tenant lease expires March 31, 2021 Showings by appointment.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Broadmor

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k374k

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

Neighborhood: Broadmor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $10001981

* 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
Broadmor Elementary School Primary Regular 673 35 8
Connolly Middle School Middle Regular 1,058 57 6
Tempe High School High Regular 1,550 78 3

Broadmor Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 35
8
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
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,472
Property Tax -$263
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$370

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.

$399,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.3%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,188

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
  • $1,530

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2003$1,5954$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 2203 S La Rosa Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 621 E Vista Del Cerro Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1959
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.93
    •  
  • 2527 S Rita Lane Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1964
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.04
    •  
  • 1233 E Broadmor Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1965
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.07
    •  
  • 1719 E Gaylon Drive Tempe, AZ 5
    • 4 beds 3 baths ∙ 1,664 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,664 Sqft ∙ Built 1971
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.08
    •  
PROPERTY LISTING DETAILS
Carla Whitten
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160958
Last Updated: 11/21/2020
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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