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3501 E Tierra Buena Lane Phoenix, AZ 85032

3 Beds 2 Baths 2,131 sqft Built 1983

$449,900

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $211.12
  • 2 Days on Market
  • MLS # : 6157840
  • Updated Date : 11/07/2020 at 18:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,131 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Biltmore Partners

Listing Agent's Description

HUGE PARK LIKE backyard features a sparkling pool, covered patio, RV parking and storage. This spacious custom built 3 Bdrm/2 full bath Spanish style north facing home has beautiful Satillo tile throughout, gas fireplace in great room w/built-in wet bar, roomy eat-in kitchen w/ bay window and plenty of solid wood cabinetry and pantry, separate dining room. Large laundry room off of kitchen with entrance into 2 car garage. Dual pane windows, 2 inch wood blinds, ceiling fans and recessed lighting throughout. Walk-in closets in master and additional bedrooms. This is a great home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Bella Terra

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k368k

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

Neighborhood: Bella Terra

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9342058

* 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
Arrowhead Elementary School Primary Regular 491 36 2
Arrowhead Elementary School Middle Regular 491 36 2
Paradise Valley High School High Regular 1,806 99 5

Arrowhead Elementary School

  • Education Level: Primary
  • # of students: 491
  • # of teachers: 36
2
GreatSchools Rating

Arrowhead Elementary School

  • Education Level: Middle
  • # of students: 491
  • # of teachers: 36
2
GreatSchools Rating

Paradise Valley High School

  • Education Level: High
  • # of students: 1,806
  • # of teachers: 99
5
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,660
Property Tax -$283
Property Insurance -$69
Property Management Fees -$99
CASH FLOW
-$150

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.

$449,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.6%
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-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$20,142

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
  • $2,200

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9353$2,1654$2,1995$2,200
$2,200
RENT COMPS ANALYSIS
  • 3501 E Tierra Buena Lane Phoenix, AZ 1
    • 3 beds 2 baths ∙ 2,131 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,131 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3412 E Claire Drive Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,976 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,976 Sqft ∙ Built 1977
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,935
    • $0.98
    •  
  • 14838 N 38th Street Phoenix, AZ 3
    • 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 1977
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,165
    • $1.02
    •  
  • 3921 E Sandra Terrace Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 2001
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $1.06
    •  
  • 16014 N 41st Place Phoenix, AZ 5
    • 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 1983
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.07
    •  
PROPERTY LISTING DETAILS
Diana J Latimore
Keller Williams Realty Biltmore Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157840
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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