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280 S Evergreen Road #1367 Tempe, AZ 85281

2 Beds 3 Baths 1,135 sqft Built 2007

$305,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $268.72
  • 4 Days on Market
  • MLS # : 6171881
  • Updated Date : 12/31/2020 at 17:25
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,135 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

LOCATION, location, LOCATION, Great location in Tempe close to Shopping, Dining, Spring Training, ASU and Freeways! Perfect for full-time, or set it and forget it lifestyle. Check out this efficient 2 bed, 2.5 bath condo floorplan in gated community in Tempe! Updated paint palette everywhere! Tile flooring, and ample kitchen with granite, island with breakfast bar, new backsplash complete with stainless steel appliances, staggered cabinets with crown molding, and deluxe pantry. Master bedroom includes walk-in closet and full bath. Bedroom 2 feels like 2nd master bedroom. Laundry includes washer and dryer upstairs. Enjoy the Arizona weather with extended patio with desert landscaping. Don't miss out on the opportunity to see what this property has to offer.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Villagio at Tempe

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k301k

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

Neighborhood: Villagio at Tempe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8211703

* 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
Laird School Primary Regular 433 29 2
Laird School Middle Regular 433 29 2
Mcclintock High School High Regular 1,771 81 6

Laird School

  • Education Level: Primary
  • # of students: 433
  • # of teachers: 29
2
GreatSchools Rating

Laird School

  • Education Level: Middle
  • # of students: 433
  • # of teachers: 29
2
GreatSchools Rating

Mcclintock High School

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

$274,500$335,500$305,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,125
Property Tax -$214
Property Insurance -$49
HOA -$170
Property Management Fees -$99
CASH FLOW
-$108

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.

$305,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.0%
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$100k$200k$300k$400k$500k$600k$700k$800k

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,236

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.37

    LIST RENT PER SQFT
  • $1,549

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5504$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 280 S Evergreen Road #1367 Tempe, AZ 3
    • 2 beds 3 baths ∙ 1,135 Sqft ∙ Built 2007 2 beds 3 baths ∙ 1,135 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.37
    •  
  • 280 S Evergreen Road #1372 Tempe, AZ 1
    • 2 beds 3 baths ∙ 1,105 Sqft ∙ Built 2007 2 beds 3 baths ∙ 1,105 Sqft ∙ Built 2007
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.31
    •  
  • 280 S Evergreen Road #1370 Tempe, AZ 2
    • 2 beds 3 baths ∙ 1,105 Sqft ∙ Built 2007 2 beds 3 baths ∙ 1,105 Sqft ∙ Built 2007
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.36
    •  
  • 2401 E Rio Salado Parkway #1076 Tempe, AZ 4
    • 2 beds 3 baths ∙ 1,190 Sqft ∙ Built 2007 2 beds 3 baths ∙ 1,190 Sqft ∙ Built 2007
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.34
    •  
  • 280 S Evergreen Road #1268 Tempe, AZ 5
    • 2 beds 3 baths ∙ 1,135 Sqft ∙ Built 2007 2 beds 3 baths ∙ 1,135 Sqft ∙ Built 2007
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.45
    •  
PROPERTY LISTING DETAILS
Holly Marcus
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6171881
Last Updated: 12/31/2020
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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