Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

354 W Bolero Drive Tempe, AZ 85284

4 Beds 3 Baths 1,840 sqft Built 1995

$400,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $217.39
  • 3 Days on Market
  • MLS # : 6184454
  • Updated Date : 01/22/2021 at 18:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,840 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Phoenix

Listing Agent's Description

Take a look at this two-story level property located in desirable Tempe! This home offers roomy bedrooms, low maintenance front yard, and a 2 car garage plus slab. Interior is so inviting and features designer paint, tiled flooring, decorative lighting, carpet in all bedrooms, large living & dining areas, and a cozy family room adjacent to the kitchen. Enjoy cooking in this efficient kitchen boasting granite countertops, oak cabinets, and high-end appliances needed for a perfect home meal. The master bedroom provides a walk-in closet and a full bathroom with a separate tub, step-in shower, double-sink vanity, and a private toilet room. Have fun in this charming backyard with natural grass and a covered patio perfect for relaxing afternoons. Make this gem yours now. Start calling!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Parke Tempe

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k361k

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

Neighborhood: Parke Tempe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $10001981

* 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
C.i. Waggoner School Primary Regular 612 34 8
Kyrene Middle School College Preparatory Academy Middle Regular 1,056 55 6
Mountain Pointe High School High Regular 2,685 111 3

C.i. Waggoner School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 34
8
GreatSchools Rating

Kyrene Middle School College Preparatory Academy

  • Education Level: Middle
  • # of students: 1,056
  • # of teachers: 55
6
GreatSchools Rating

Mountain Pointe High School

  • Education Level: High
  • # of students: 2,685
  • # of teachers: 111
3
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,389
Property Tax -$289
Property Insurance -$63
HOA -$15
Property Management Fees -$99
CASH FLOW
-$176

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.

$400,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$9,842

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,665

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6803$1,8004$1,8955$1,900
$1,900
RENT COMPS ANALYSIS
  • 354 W Bolero Drive Tempe, AZ 2
    • 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.91
    •  
  • 231 E Mcnair Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1978
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 490 E Krista Way Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1998
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
  • 380 W Palomino Drive Tempe, AZ 4
    • 3 beds 3 baths ∙ 2,158 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,158 Sqft ∙ Built 1994
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 148 W Dawn Drive Tempe, AZ 5
    • 4 beds 2 baths ∙ 2,066 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,066 Sqft ∙ Built 1986
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
PROPERTY LISTING DETAILS
Norah Staples
Keller Williams Realty Phoenix
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184454
Last Updated: 01/22/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

BESbswy