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2522 E Fairmont Drive Tempe, AZ 85282

4 Beds 2 Baths 1,672 sqft Built 1971

$450,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $269.14
  • 2 Days on Market
  • MLS # : 6209849
  • Updated Date : 03/21/2021 at 02:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,672 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

WOW! Immaculate single level house 4BD/2BA at a high demand location and quiet cul de sac in Tempe. This gorgeous home is remodeled with granite counter top with modern white cabinet kitchen. Easy maintenance tile and laminate flooring thru out the house. All windows were upgraded to double panes. Raised high ceilings in the hallway. Upgraded lighting with LED canned lights. Upgraded with large window in master bedroom. Extra large laundry room / storage. Beautiful double French Door to an office. Close to ASU, MCC, light rail, hospital and ease access to 101 freeway. This home is ready to move in and won't last long!

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
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

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,563
Property Tax -$270
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$292

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

$1,700

PROJECTED RENT

0.38%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$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

2.33

YEARS SAVED

$7,710

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,852

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8253$1,8954$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 2522 E Fairmont Drive Tempe, AZ 1
    • 4 beds 2 baths ∙ 1,672 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,672 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2506 E Del Rio Drive Tempe, AZ 2
    • 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
    •  
  • 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
    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
    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
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.14
    •  
PROPERTY LISTING DETAILS
Beibei Wong
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6209849
Last Updated: 03/21/2021
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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