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3240 S Allred Drive Tempe, AZ 85282

4 Beds 2 Baths 1,734 sqft Built 1971

$399,900

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $230.62
  • 2 Days on Market
  • MLS # : 6157792
  • Updated Date : 11/07/2020 at 14:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,734 sqft
  • Baths : 2 full
Listing Agent

Re/max Foothills

Listing Agent's Description

Charming 4 bedroom 2 bath block home in excellent Tempe location close to freeway access, shopping, schools and hospitals! This beautiful and well cared for home is loaded with updates and upgrades like newer roof, new AC, Stainless steel appliances, updated cabinetry, new energy efficient dual pane low E windows throughout, huge double door sliding wall of glass to the covered patio, new blinds, lighting accents and ceiling fans. Bathrooms are beautifully remodeled. Excellent open floor plan. Large master suite with separate dual closets. Newer paint inside and out. Spacious 2 car garage! Sparkling diving pool with new pump! Private oversized cul-de-sac lot! Long driveway w/ room for RV or Boat! Newer turf backyard, desert front! 4th bedroom currently does not have a closet.

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
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
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,475
Property Tax -$240
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
$45

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.

$399,900

PROJECTED PRICE

$1,920

PROJECTED RENT

0.48%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$34,845

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
  • $1,903

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8003$1,8954$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 3240 S Allred Drive Tempe, AZ 1
    • 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2525 E La Jolla Drive Tempe, AZ 2
    • 4 beds 2 baths ∙ 1,669 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,669 Sqft ∙ Built 1970
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.08
    •  
  • 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 11/03/20
    • 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
Rod Hofeling
Re/max Foothills
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157792
Last Updated: 11/07/2020
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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