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519 E Colgate Drive Tempe, AZ 85283

3 Beds 2 Baths 1,439 sqft Built 1978

$299,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $207.78
  • 3 Days on Market
  • MLS # : 6172738
  • Updated Date : 12/19/2020 at 14:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,439 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

If it is all about the LOCATION, you will not want to miss this well maintained 3 bedroom, 2 bath townhouse. Great Tempe location in quiet complex, with a private rear yard, 2 car carport, this end unit is next to the community pool. Features Stainless appliances, new light fixtures and a complete new Roof with a transferable warranty. Conveniently located near great schools, neighborhood offers many shopping, entertainment & dining options. Easy access to the 60, I10 and 101 Freeways. Schedule your appointment to see it today.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: University Royal Garden Homes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $89k290k

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

Neighborhood: University Royal Garden Homes

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9671703

* 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
Aguilar Elementary School Primary Regular 516 29 3
Fees College Preparatory Middle School Middle Regular 925 59 4
Marcos De Niza High School High Regular 1,582 76 4

Aguilar Elementary School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 29
3
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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,103
Property Tax -$197
Property Insurance -$55
HOA -$150
Property Management Fees -$99
CASH FLOW
$76

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.

$299,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$27,632

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,561

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5753$1,5954$1,6005$1,680
$1,680
RENT COMPS ANALYSIS
  • 519 E Colgate Drive Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.17
    •  
  • 724 E Oxford Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1979
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 106 E Duke Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1973
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.07
    •  
  • 6104 S El Camino Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1972
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.14
    •  
  • 220 E Colgate Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1971
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.16
    •  
PROPERTY LISTING DETAILS
Ellen L. Kirk
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172738
Last Updated: 12/19/2020
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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