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407 E Auburn Drive Tempe, AZ 85283

3 Beds 2 Baths 1,328 sqft Built 1973

$305,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $229.67
  • 2 Days on Market
  • MLS # : 6187846
  • Updated Date : 01/30/2021 at 23:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,328 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Some loving care is needed on this 3 BD/ 2BA which is conveniently located near ASU, plus easy access to US-60 & 1-10, ,and plenty of restaurants and Shopping. Recently replaced Roof and A/C unit. Guest bathroom was updated with Jaquzzi tub. Tile flooring throughout the main Living areas of the house. Mature trees in rear yard. Extra stroage room off carport . Buyer to verify all information provided in the MLS listing.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Kiwanis - the Lakes

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k358k

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

Neighborhood: Kiwanis - the Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9681981

* 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
Aguilar Elementary School Primary Regular 516 29 3
Fees College Preparatory Middle School Middle Regular 925 59 4
Marcos De Niza High School High Regular 1,582 76 4

Aguilar Elementary School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 29
3
GreatSchools Rating

Fees College Preparatory Middle School

  • Education Level: Middle
  • # of students: 925
  • # of teachers: 59
4
GreatSchools Rating

Marcos De Niza High School

  • Education Level: High
  • # of students: 1,582
  • # of teachers: 76
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,059
Property Tax -$194
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
$154

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.

$305,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 8.4%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$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 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$31,573

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,557

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,5604$1,5955$1,800
$1,800
RENT COMPS ANALYSIS
  • 407 E Auburn Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.17
    •  
  • 5337 S El Camino Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 1972
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.18
    •  
  • 220 E Colgate Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1971
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.12
    •  
  • 731 E Tulane Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1973
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.20
    •  
  • 5903 S Palm Drive Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1974
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.19
    •  
PROPERTY LISTING DETAILS
Sheila Hanna
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187846
Last Updated: 01/30/2021
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.

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