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2544 E Manhatton Drive Tempe, AZ 85282

4 Beds 2 Baths 1,669 sqft Built 1971

$349,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $209.65
  • 3 Days on Market
  • MLS # : 6162210
  • Updated Date : 11/21/2020 at 12:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,669 sqft
  • Baths : 2 full
Listing Agent

Lra Real Estate Group, Llc

Listing Agent's Description

**This home will be active for showings at 9am Friday morning, Nov 20th** Offers will be presented Sunday at Noon. A stunning home with NO HOA!!! 1669sf, 4 bedroom, 2 bathroom ranch style home with a pool and grass back yard. This north/south facing home has new interior paint and carpet throughout the home. The roof and HVAC are only 6 years old and the home has vinyl dual pane windows throughout. The kitchen has a new stainless-steel gas cooktop, range hood and dishwasher. The family room and kitchen open onto a covered patio, perfectly set up for entertaining. A large, fenced pool with oversized deck area gets afternoon shade - perfect for summer days! This home is move-in ready and located on a corner lot just a short walk from a newly updated city 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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Dobson High School High Regular 2,639 122 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

Dobson High School

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

$314,910$384,890$349,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,291
Property Tax -$210
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
$0

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.

$349,900

PROJECTED PRICE

$1,660

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$26,376

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,786

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6253$1,6604$1,8005$1,885
$1,885
RENT COMPS ANALYSIS
  • 2544 E Manhatton Drive Tempe, AZ 3
    • 4 beds 2 baths ∙ 1,669 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,669 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.99
    •  
  • 2528 E Malibu Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1981
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 2428 E Pebble Beach Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1971
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.06
    •  
  • 2525 E La Jolla Drive Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,669 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,669 Sqft ∙ Built 1970
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.08
    •  
  • 2516 E Riviera Drive Tempe, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Liisa L. Sharp
Lra Real Estate Group, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162210
Last Updated: 11/21/2020
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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