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2468 E La Jolla Drive Tempe, AZ 85282

3 Beds 2 Baths 1,829 sqft Built 1971

$400,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $218.70
  • 4 Days on Market
  • MLS # : 6208291
  • Updated Date : 03/18/2021 at 16:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,829 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautifully updated ranch in great area. Many updates throughout- tile flooring, lighting, motion sensors, diamond grind epoxy garage floor, RO system, electric car charging outlet and much more!! Close to 101, 202, 60 and I10. Community features include a garden and park!

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
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,389
Property Tax -$240
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
$79

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.

$400,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.47%

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$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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$31,813

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,039

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,870
1$1,8702$1,8853$1,8954$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 2468 E La Jolla Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,829 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,829 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $1.02
    •  
  • 2516 E Riviera Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1971
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $1.15
    •  
  • 2540 E Geneva Drive Tempe, AZ 3
    • 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 1970
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.11
    •  
  • 2242 E Geneva Drive Tempe, AZ 4
    • 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
    •  
  • 2519 E Geneva Drive Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 1970
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.14
    •  
PROPERTY LISTING DETAILS
Danielle Bronson
Redfin Corporation
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6208291
Last Updated: 03/18/2021
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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