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2301 E Loma Vista Drive Tempe, AZ 85282

4 Beds 2 Baths 1,734 sqft Built 1974

$450,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $259.52
  • 4 Days on Market
  • MLS # : 6201938
  • Updated Date : 03/06/2021 at 21:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,734 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Fantastic opportunity to own a Suggs home in Tempe close to freeways, shopping and entertainment. Oversized N/S facing corner lot, RV gate and NO HOA!!! A spacious floor plan boasts 4 bedrooms, 2 baths and 2 car garage. The sparkling blue diving pool has been recently renovated and is ready for a summer BBQ's with friends. Recently replaced water heater and a new roof. This one is ready for you to move in!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Broadway Palms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k291k

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

Neighborhood: Broadway Palms

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
Carson Junior High School Middle Regular 992 55 3
Westwood High School High Regular 3,131 145 4

Carson Junior High School

  • Education Level: Middle
  • # of students: 992
  • # of teachers: 55
3
GreatSchools Rating

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,563
Property Tax -$270
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
-$233

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.

$450,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.5%
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

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

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 55% 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

3.08

YEARS SAVED

$10,804

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,829

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,693
1$1,6932$1,7603$1,7954$1,8255$1,895
$1,895
RENT COMPS ANALYSIS
  • 2301 E Loma Vista Drive Tempe, AZ 2
    • 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.01
    •  
  • 2182 E Concorda Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1970
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,693
    • $0.93
    •  
  • 2166 E Alameda Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1985
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
  • 2506 E Del Rio Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1971
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.12
    •  
  • 2351 W Del Oro Circle Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1970
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.10
    •  
PROPERTY LISTING DETAILS
Dawn Johnson
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6201938
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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