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513 W Julie Drive Tempe, AZ 85283

4 Beds 3 Baths 2,016 sqft Built 2006

$395,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $195.93
  • 4 Days on Market
  • MLS # : 6177645
  • Updated Date : 01/15/2021 at 16:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,016 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hague Partners

Listing Agent's Description

72hour home sale! Inquire now! Welcome to the exclusive 23 home community of Spring Meadows in Tempe. This beautifully maintained 4bd/2.5ba home offers comfortable living, plenty of natural sunlight throughout, a great floorplan and just minutes from ASU, parks, restaurants, freeways and shopping. Enter the home into the family room with high ceilings, neutral paint throughout, a beautiful kitchen that includes granite countertops, pantry, center island, stainless steel appliances, and plenty of cabinetry space. Master suite with walk-in closet, full bath, separate tub, step-in shower, and double sinks. Backyard features an extended covered patio and low maintenance landscaping. Don't miss out on this one. Contact CLA for showing info!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mills - Emerald

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Mills - Emerald

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $10002374

* 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
Wood Elementary School Primary Regular 582 33 4
Fees College Preparatory Middle School Middle Regular 925 59 4
Marcos De Niza High School High Regular 1,582 76 4

Wood Elementary School

  • Education Level: Primary
  • # of students: 582
  • # of teachers: 33
4
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
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,372
Property Tax -$260
Property Insurance -$66
HOA -$73
Property Management Fees -$99
CASH FLOW
$79

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$395,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$20k

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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$30,113

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,981

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,9503$2,1494$2,1995$2,295
$2,295
RENT COMPS ANALYSIS
  • 513 W Julie Drive Tempe, AZ 2
    • 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
  • 521 W Julie Drive Tempe, AZ 1
    • 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 2006
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.91
    •  
  • 596 W Westchester Avenue Tempe, AZ 3
    • 4 beds 4 baths ∙ 2,202 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,202 Sqft ∙ Built 2019
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,149
    • $0.98
    •  
  • 6126 S Roosevelt Street Tempe, AZ 4
    • 4 beds 4 baths ∙ 2,202 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,202 Sqft ∙ Built 2019
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $1.00
    •  
  • 577 W Westchester Avenue #15 Tempe, AZ 5
    • 4 beds 4 baths ∙ 2,202 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,202 Sqft ∙ Built 2019
    property image
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.04
    •  
PROPERTY LISTING DETAILS
David Newman
Hague Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6177645
Last Updated: 01/15/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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