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2607 E Lemon Street Tempe, AZ 85281

3 Beds 2 Baths 1,130 sqft Built 1976

$225,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $199.12
  • 2 Days on Market
  • MLS # : 6170775
  • Updated Date : 12/12/2020 at 13:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,130 sqft
  • Baths : 1 full , 1 half
Listing Agent

A.z. & Associates

Listing Agent's Description

Consider centralized Tempe living in this 3 bedroom 2 bathroom townhouse. Private courtyard, end unit, all appliances stay! Newer AC unit and newer water heater. Easy access to freeways, schools including ASU, shopping, and spring training ballpark. Amazing Esquer Park just walking distance away offering basketball court, splash pad, grass park, horseshoes, covered picnic benches, super sweet skate park. Desired school district.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Oaks

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $62k290k

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

Neighborhood: Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7211703

* 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
Thew Elementary School Primary Regular 645 37 1
Connolly Middle School Middle Regular 1,058 57 6
Mcclintock High School High Regular 1,771 81 6

Thew Elementary School

  • Education Level: Primary
  • # of students: 645
  • # of teachers: 37
1
GreatSchools Rating

Connolly Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 57
6
GreatSchools Rating

Mcclintock High School

  • Education Level: High
  • # of students: 1,771
  • # of teachers: 81
6
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$830
Property Tax -$148
Property Insurance -$49
HOA -$187
Property Management Fees -$99
CASH FLOW
$166

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$225,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$30,764

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
  • $1,489

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,3954$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 2607 E Lemon Street Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2429 E 7th Street Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1979
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.19
    •  
  • 2612 E Oakleaf Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1978
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.23
    •  
  • 2530 E Randall Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1975
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.45
    •  
  • 2628 E Orange Street Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1976
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.40
    •  
PROPERTY LISTING DETAILS
Hillary Key
A.z. & Associates
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170775
Last Updated: 12/12/2020
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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