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2305 E Alameda Drive Tempe, AZ 85282

4 Beds 2 Baths 1,840 sqft Built 1974

$415,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $225.54
  • 4 Days on Market
  • MLS # : 6180809
  • Updated Date : 01/14/2021 at 17:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,840 sqft
  • Baths : 2 full
Listing Agent

Balboa Realty, Llc

Listing Agent's Description

Come see this recently remodeled home in Tempe located conveniently off the 101. As you pull up you will notice the fresh white and black paint scheme on this cute ranch style home. Inside you will find luxury vinyl plank flooring throughout the common areas and hallways. Around the corner is the kitchen with white white shaker cabinets, stainless steel appliances, quartz countertops and backsplash. Down the hall is a guest bath and 3 guest bedrooms. Around the corner is the master suite with walk in closet, tiled shower and slider door out to the backyard with large covered patio and fresh sod.

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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Westwood High School High Regular 3,131 145 4

Franklin At Alma Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Franklin At Alma Elementary School

  • Education Level: Middle
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Westwood High School

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

$373,500$456,500$415,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,441
Property Tax -$249
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
$57

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.

$415,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.46%

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$0.0$5.0k$10k$15k$20k

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$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$30,735

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,895

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$1,9004$1,9105$2,000
$2,000
RENT COMPS ANALYSIS
  • 2305 E Alameda Drive Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.04
    •  
  • 2355 E Alameda Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1974
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
  • 3016 S George Drive Tempe, AZ 2
    • 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 1972
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
  • 2242 E Geneva Drive Tempe, AZ 3
    • 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 1971
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.06
    •  
  • 2627 S Bala Drive Tempe, AZ 5
    • 4 beds 2 baths ∙ 1,968 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,968 Sqft ∙ Built 1978
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.02
    •  
PROPERTY LISTING DETAILS
Wyley Brown
Balboa Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6180809
Last Updated: 01/14/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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