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508 W Brown Street Tempe, AZ 85281

3 Beds 2 Baths 1,391 sqft Built 1954

$375,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $269.59
  • 2 Days on Market
  • MLS # : 6157602
  • Updated Date : 11/06/2020 at 23:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,391 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sonoran

Listing Agent's Description

Walking distance to Whole Foods, ASU, Tempe Town Lake, Orbit line and the light rail this lovely 3 bed, 2 bath home is for you! The elegant interior boasts dining and living areas with neutral paint throughout and a gorgeous kitchen equipped with maple cabinetry, granite countertops, matching stainless steel appliances, and a small breakfast bar. Inside the fabulous master bedroom you will find a full bath, a spacious walk-in closet, and a private exit to the wonderful backyard, which includes a cozy patio and a large grassy area perfect for spending quality time with friends and loved ones! Featuring desert landscaping with 1 carport parking space and more, you simply have to come see it for yourself!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Riverside

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $83k385k

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

Neighborhood: Riverside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7191703

* 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
Scales Technology Academy Primary Regular 533 33 3
Gililland Middle School Middle Regular 901 59 3
Tempe High School High Regular 1,550 78 3

Scales Technology Academy

  • Education Level: Primary
  • # of students: 533
  • # of teachers: 33
3
GreatSchools Rating

Gililland Middle School

  • Education Level: Middle
  • # of students: 901
  • # of teachers: 59
3
GreatSchools Rating

Tempe High School

  • Education Level: High
  • # of students: 1,550
  • # of teachers: 78
3
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,384
Property Tax -$247
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$84

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.

$375,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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$5.0k$10k$15k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$19,568

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,972

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8503$1,9004$1,9805$2,500
$2,500
RENT COMPS ANALYSIS
  • 508 W Brown Street Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.22
    •  
  • 821 W 9th Street Tempe, AZ 2
    • 4 beds 2 baths ∙ 1,494 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,494 Sqft ∙ Built 1958
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.24
    •  
  • 1001 S Roosevelt Street Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1945
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.36
    •  
  • 1017 W Elna Rae Street Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1959
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.49
    •  
  • 900 S Wilson Street Tempe, AZ 5
    • 4 beds 2 baths ∙ 1,582 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,582 Sqft ∙ Built 1968
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.58
    •  
PROPERTY LISTING DETAILS
Sasha Lopez
Keller Williams Realty Sonoran
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157602
Last Updated: 11/06/2020
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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