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471 W Larona Lane Tempe, AZ 85284

3 Beds 2 Baths 1,993 sqft Built 1997

$485,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $243.35
  • 2 Days on Market
  • MLS # : 6203528
  • Updated Date : 03/06/2021 at 22:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,993 sqft
  • Baths : 2 full
Listing Agent

Re/max Fine Properties

Listing Agent's Description

Warner Ranch cul de sac home in south Tempe waiting for you! This 3 bed / 2 bath with pool and sport court is situated just a few steps from open green community space with mature grass and trees. Home features 1993 SF open floor plan where great room, dining and kitchen areas flow seamlessly trimmed in neutral tones and tile flooring. Kitchen features island, breakfast bar, Corian counter tops and lots of cabinet space. Community features tennis court, basketball courts, playgrounds, walking/biking paths & near city bus stop. Located in award winning Kyrene school district close to shopping malls, grocery stores & quick access to freeways.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Warner Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $122k447k

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

Neighborhood: Warner Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $10002090

* 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
Kyrene De La Mariposa Elementary School Primary Regular 548 29 8
Kyrene Del Pueblo Middle School Middle Regular 829 50 8
Corona Del Sol High School High Regular 2,781 114 7

Kyrene De La Mariposa Elementary School

  • Education Level: Primary
  • # of students: 548
  • # of teachers: 29
8
GreatSchools Rating

Kyrene Del Pueblo Middle School

  • Education Level: Middle
  • # of students: 829
  • # of teachers: 50
8
GreatSchools Rating

Corona Del Sol High School

  • Education Level: High
  • # of students: 2,781
  • # of teachers: 114
7
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,685
Property Tax -$350
Property Insurance -$66
HOA -$26
Property Management Fees -$99
CASH FLOW
-$396

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.

$485,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.6%
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-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,488

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
  • $1,834

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8953$2,0004$2,0955$2,100
$2,100
RENT COMPS ANALYSIS
  • 471 W Larona Lane Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 569 N Aspen Drive Chandler, AZ 2
    • 3 beds 3 baths ∙ 2,013 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,013 Sqft ∙ Built 1987
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.94
    •  
  • 1116 W Dawn Drive Tempe, AZ 3
    • 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2008
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
  • 1135 W Caroline Lane Tempe, AZ 4
    • 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2007
    property image
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.93
    •  
  • 1182 W Amanda Lane Tempe, AZ 5
    • 3 beds 2 baths ∙ 2,279 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,279 Sqft ∙ Built 1994
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
PROPERTY LISTING DETAILS
Scott Roland Hendrixson
Re/max Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203528
Last Updated: 03/06/2021
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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