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518 W Dennis Court Tempe, AZ 85283

3 Beds 3 Baths 1,567 sqft Built 1986

$360,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $229.74
  • 3 Days on Market
  • MLS # : 6193193
  • Updated Date : 02/12/2021 at 00:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,567 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Extremely sharp move-in ready home in excellent location! Located near freeways, shopping, and nestled in cul-de-sac less than 100 yards from the refreshing community pool. This beautiful home is complete with vaulted ceilings, huge balcony off of the master bedroom, remodeled kitchen with stainless steel appliances, white cabinets, and granite countertops. Plenty of storage with built-in cabinets in the garage. Private location in a cul-de-sac with no neighbor behind. Newer water heater & HVAC/AC. This one won't last, so schedule your showing today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Terrace Walk

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Terrace Walk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8071981

* 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 Middle School College Preparatory Academy Middle Regular 1,056 55 6
Marcos De Niza High School High Regular 1,582 76 4

Kyrene De La Mariposa Elementary School

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

Kyrene Middle School College Preparatory Academy

  • Education Level: Middle
  • # of students: 1,056
  • # of teachers: 55
6
GreatSchools Rating

Marcos De Niza High School

  • Education Level: High
  • # of students: 1,582
  • # of teachers: 76
4
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,250
Property Tax -$260
Property Insurance -$58
HOA -$60
Property Management Fees -$99
CASH FLOW
-$87

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.

$360,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$12,816

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
  • $1,786

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6003$1,7504$1,9505$1,979
$1,979
RENT COMPS ANALYSIS
  • 518 W Dennis Court Tempe, AZ 1
    • 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1026 W Libra Drive Tempe, AZ 2
    • 3 beds 3 baths ∙ 1,461 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,461 Sqft ∙ Built 1995
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
  • 510 W Julie Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 2006
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.09
    •  
  • 7211 S Roberts Road Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1996
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.21
    •  
  • 1027 W Paseo Way Tempe, AZ 5
    • 4 beds 2 baths ∙ 1,709 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,709 Sqft ∙ Built 1994
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,979
    • $1.16
    •  
PROPERTY LISTING DETAILS
Josh M. Underwood
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193193
Last Updated: 02/12/2021
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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