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525 W Lakeside Drive #140 Tempe, AZ 85281

2 Beds 2 Baths 1,557 sqft Built 2006

$457,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $293.51
  • 4 Days on Market
  • MLS # : 6207394
  • Updated Date : 03/18/2021 at 20:14
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,557 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Pool front Townhouse in a resort-like gated community near Tempe Town Lake and Tempe Center for the Arts. Beautifully updated in 2019, this townhome has 1,493sf, 2 bed 2 full bath plus a space that could be a home office. Attached 2 car garage. Hardwood and tile floors throughout, no carpet. Attractively painted. The amazing kitchen, renovated in 2019, opens to the great room, has slab granite counter tops & stainless appliances. New A/C compressors, installed in 2019. Water heater is 2 years old. Close walk to Tempe Town Lake, ASU main campus, Mill Ave. entertainment area, grocery shopping at WholeFoods within walking distance, restaurants, shopping, easy access to freeway & the airport. Gated community. This unit is one of the best in the community!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Downtown Tempe - Rio Salado

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Downtown Tempe - Rio Salado

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7671703

* 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
 

$411,300$502,700$457,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,587
Property Tax -$301
Property Insurance -$58
HOA -$365
Property Management Fees -$99
CASH FLOW
-$560

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.

$457,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 2.6%
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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$126,855

INVESTMENT

$126,855

Down Payment
$114,250
Rehab Estimate
$5,750
Closing Costs
$6,855

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,250
Loan Amount $342,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$150

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
  • $2,067

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8953$1,9004$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 525 W Lakeside Drive #140 Tempe, AZ 1
    • 2 beds 2 baths ∙ 1,557 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,557 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 520 S Roosevelt Street #1013 Tempe, AZ 2
    • 2 beds 3 baths ∙ 1,483 Sqft ∙ Built 2007 2 beds 3 baths ∙ 1,483 Sqft ∙ Built 2007
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.28
    •  
  • 305 S Wilson Street #102 Tempe, AZ 3
    • 2 beds 2 baths ∙ 1,565 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,565 Sqft ∙ Built 2006
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.21
    •  
  • 525 W Lakekside Drive #133 Tempe, AZ 4
    • 2 beds 3 baths ∙ 1,370 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,370 Sqft ∙ Built 2006
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.46
    •  
  • 421 W 6th Street #1009 Tempe, AZ 5
    • 2 beds 3 baths ∙ 1,472 Sqft ∙ Built 2016 2 beds 3 baths ∙ 1,472 Sqft ∙ Built 2016
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.36
    •  
PROPERTY LISTING DETAILS
Steffy Hristova
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6207394
Last Updated: 03/18/2021
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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