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225 E Colgate Drive Tempe, AZ 85283

3 Beds 2 Baths 1,378 sqft Built 1972

$359,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $260.52
  • 2 Days on Market
  • MLS # : 6203658
  • Updated Date : 03/06/2021 at 19:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,378 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty East Valley

Listing Agent's Description

This 3 bedroom, two bath home, is ready for a new owner to move in and make it their own. The spacious floor plan, vaulted ceilings, huge kitchen with storage galore, a 2 car garage, and an extra large master walk in closet are just a few of the things that make this home so unique. The large back yard and covered patio are in perfect proportion to the lot and home itself and great for entertaining one day. Just steps from Kiwanis Park, this central Tempe location is ideal for any commute near freeways, while being walking distance to restaurants, shops and transportation as well. Come and see this Tempe gem today!

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
Aguilar Elementary School Primary Regular 516 29 3
Fees College Preparatory Middle School Middle Regular 925 59 4
Marcos De Niza High School High Regular 1,582 76 4

Aguilar Elementary School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 29
3
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
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,247
Property Tax -$236
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$106

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.

$359,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.43%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,372

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
  • $1,543

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4953$1,5504$1,5755$1,699
$1,699
RENT COMPS ANALYSIS
  • 225 E Colgate Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5337 S El Camino Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 1972
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.18
    •  
  • 220 E Colgate Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1971
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.12
    •  
  • 106 E Duke Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1973
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.07
    •  
  • 4577 S Mill Avenue Tempe, AZ 5
    • 4 beds 3 baths ∙ 1,536 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,536 Sqft ∙ Built 1964
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.11
    •  
PROPERTY LISTING DETAILS
Katherine E Walsh
Keller Williams Realty East Valley
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203658
Last Updated: 03/06/2021
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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