Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2416 E La Jolla Drive Tempe, AZ 85282

3 Beds 2 Baths 1,288 sqft Built 1970

$325,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $252.33
  • 2 Days on Market
  • MLS # : 6212658
  • Updated Date : 03/27/2021 at 16:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,288 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This wonderful 3 Bed/2 Bath single family home with private pool is situated in the sought after Tempe area of Knoell Tempe Unit 2. which does not have a HOA. The home has been owned by one owner since it was built in 1970. The neighborhood park has a playground, basketball court and close access to walking/biking paths along the canel. The home is close to major freeways, Sky Harbor Airport and ASU. This home has been maintained very well over the years and is waiting for the new owners to come in and make the home their own. Inventory is low in Tempe and this little gem will not last long. Tempe has great shopping and restaurants. The home has a nice private back yard backing onto an alley, there is a private fenced pool and good entertaining space .

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alameda

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Alameda

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550160016501700Rent in $10001711

* 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
Rhodes Junior High School Middle Regular 985 52 4
Dobson High School High Regular 2,639 122 4

Rhodes Junior High School

  • Education Level: Middle
  • # of students: 985
  • # of teachers: 52
4
GreatSchools Rating

Dobson High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 122
4
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$1,129
Property Tax -$195
Property Insurance -$52
Property Management Fees -$99
CASH FLOW
-$115

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.

$325,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$11,164

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,459

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3603$1,4954$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 2416 E La Jolla Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.06
    •  
  • 1051 S Dobson Road #24 Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1974
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.12
    •  
  • 2446 E Manhatton Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1971
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.16
    •  
  • 2508 S Cottonwood Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1976
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.12
    •  
  • 2514 S Cottonwood Drive Tempe, AZ 5
    • 4 beds 2 baths ∙ 1,412 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,412 Sqft ∙ Built 1976
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.13
    •  
PROPERTY LISTING DETAILS
Gillian Kirkpatrick
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6212658
Last Updated: 03/27/2021
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.

BESbswy