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407 E Auburn Drive Tempe, AZ 85283

3 Beds 2 Baths 1,328 sqft Built 1973

$460,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $346.39
  • 2 Days on Market
  • MLS # : 6213141
  • Updated Date : 03/27/2021 at 18:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,328 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Location Location Location! STUNNING REMODEL in the heart of Tempe a short walk away from beautiful Kiwanis Park. As youpull up to this 3 bedroom 2 bath home you will notice the fresh mid- century curb appeal. Step inside and notice all this home has tooffer. Brand new upgrades to include: freshly painted interior & exterior, tiled flooring, duel pain windows, French doors, whitekitchen cabinets with soft closing drawers, stainless steel appliances with slide in gas range, kitchen island, gunmetal farmhousesink, black fixtures, recessed lighting throughout with dimmer switches, quartz countertops, subway tiled backsplash, and a rarewalk in pantry & ceiling fans in every room. Large master bathroom with immaculate walk in shower equipped with duel showerheads & meticulous tile w

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
 

$414,000$506,000$460,000

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 -$1,598
Property Tax -$303
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
-$503

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.

$460,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.34%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,598

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$837

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
  • $1.17

    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$1,5504$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
    •  
    • $1,550
    • $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
Ryan Lee Dowell
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6213141
Last Updated: 03/27/2021
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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