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4410 S Rita Lane Tempe, AZ 85282

4 Beds 2 Baths 1,992 sqft Built 1971

$420,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $210.84
  • 2 Days on Market
  • MLS # : 6187702
  • Updated Date : 01/31/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,992 sqft
  • Baths : 2 full
Listing Agent

Crest Premier Properties

Listing Agent's Description

Stunning Stucco-brick home w/ courtyard entry, remodeled with a Pool in the heart of Tempe! This spacious 4 Bed/2 Bath home has a welcoming living room with large windows, a newly remodeled Kitchen w/Quartz counters, Stainless appliances, tile backsplash-gorgeous lighting. Two Baths, fully remodeled w/custom tile, floors, vanities, lighting, mirrors. The Master has a walk-in closet an ensuite new bath w/quartz. Ceiling fans throughout and newer lighting. The Great room w/ Brick Fireplace has French doors to pool. Additional bedrooms w/ new carpet, share large bath w/dual sink vanity, tile, tub etc. Many upgrades- New Roof (2020), New Interior Paint, New Exterior Paint, New Carpet in bedrooms, Remodeled Kitchen & Baths (all 2020).

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Kiwanis - the Lakes

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $118k358k

* 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
Arredondo Elementary School Primary Regular 350 21 5
Connolly Middle School Middle Regular 1,058 57 6
Mcclintock High School High Regular 1,771 81 6

Arredondo Elementary School

  • Education Level: Primary
  • # of students: 350
  • # of teachers: 21
5
GreatSchools Rating

Connolly Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 57
6
GreatSchools Rating

Mcclintock High School

  • Education Level: High
  • # of students: 1,771
  • # of teachers: 81
6
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,459
Property Tax -$277
Property Insurance -$66
Property Management Fees -$99
CASH FLOW
$70

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.

$420,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.47%

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$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$29,851

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
  • $1,967

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8953$1,9004$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 4410 S Rita Lane Tempe, AZ 1
    • 4 beds 2 baths ∙ 1,992 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,992 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1306 E Fremont Drive Tempe, AZ 2
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1970 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1970
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.92
    •  
  • 3918 S Oak Street Tempe, AZ 3
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1969
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
  • 1263 E Hermosa Drive Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1964
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.99
    •  
  • 1049 E Carter Drive Tempe, AZ 5
    • 4 beds 2 baths ∙ 1,832 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,832 Sqft ∙ Built 1971
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.09
    •  
PROPERTY LISTING DETAILS
Sherman Weekes
Crest Premier Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187702
Last Updated: 01/31/2021
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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