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2508 S Cottonwood Drive Tempe, AZ 85282

3 Beds 2 Baths 1,424 sqft Built 1976

$310,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $217.70
  • 4 Days on Market
  • MLS # : 6162397
  • Updated Date : 11/19/2020 at 11:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,424 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Wonderful location near to ASU and Shopping, Close to freeway and restaurants. Very clean with upgrades. Back yard has room for gardening. This home would be good as a primary residence or rental property.

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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$1,144
Property Tax -$186
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
-$94

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.

$310,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.45%

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

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$14,944

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,524

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4753$1,4754$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 2508 S Cottonwood Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.98
    •  
  • 1632 S River Drive Tempe, AZ 2
    • 3 beds 3 baths ∙ 1,410 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,410 Sqft ∙ Built 1979
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.05
    •  
  • 2141 E Broadmor Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1970
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.07
    •  
  • 2311 E Alameda Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1974
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 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
David Lethcho
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162397
Last Updated: 11/19/2020
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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