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2634 S Cottonwood Drive Tempe, AZ 85282

4 Beds 2 Baths 1,734 sqft Built 1974

INVESTimate

$450,000

List Price

$1,650

$1,485 - $1,815

Rent Est.

$483,570  ( +7.46%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1974
  • Price/Sqft : $259.52
  • 4 Days on Market
  • MLS # : 6121568
  • Updated Date : 08/22/2020 at 21:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,734 sqft
  • Baths : 2 full
Listing Agent

Delex Realty

Listing Agent's Description

Newly remodeled home in great location. Buyer has the option to pick counters, cabinets, flooring and paint color! Watch video for more information, our homes sell quickly and this one will be gone soon! Why settle when you can make this house your home!

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
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

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-$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$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,660
Property Tax -$270
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
-$440

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

$1,650

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.46%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

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 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,517

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
  • $1,721

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6003$1,6504$1,6935$1,850
$1,850
RENT COMPS ANALYSIS
  • 2634 S Cottonwood Drive Tempe, 1
    • 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2311 E Alameda Drive Tempe, 2
    • 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1974
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 2506 E Wesleyan Drive Tempe, 3
    • 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1971
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 2182 E Concorda Drive Tempe, 4
    • 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1970
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,693
    • $0.93
    •  
  • 2355 E Alameda Drive Tempe, 5
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1974
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
PROPERTY LISTING DETAILS
Sergio Duarte
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121568
Last Updated: 08/22/2020
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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