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529 W 18th Street Tempe, AZ 85281

3 Beds 2 Baths 1,244 sqft Built 1958

$450,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $361.74
  • 4 Days on Market
  • MLS # : 6201678
  • Updated Date : 03/04/2021 at 16:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,244 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

This home has it all! Excellent downtown Tempe location, fully updated. Stone's throw to ASU, waterfront, Mill Ave, restaurants, coffee, Whole Foods, Clark Park Garden. New streetcar and light rail systems few blocks away. Free Orbit bus route. A true Tempe urban experience. Practically everything is new; New AC, ductwork, insulation, appliances, roof, plumbing, electrical, flooring. This also has a garage which is rare in this area. No HOA. Easy desert landscaping. Tile plank flooring, No carpet in the home, newer kitchen w/quartz counters. Contemporary bathrooms, slider door to the a covered patio backyard. Very maintained home in ideal location

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Clark Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Clark Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7381703

* 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
Holdeman Elementary School Primary Regular 618 36 2
Gililland Middle School Middle Regular 901 59 3
Tempe High School High Regular 1,550 78 3

Holdeman Elementary School

  • Education Level: Primary
  • # of students: 618
  • # of teachers: 36
2
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
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,563
Property Tax -$296
Property Insurance -$51
Property Management Fees -$99
CASH FLOW
-$360

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.

$450,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.4%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,541

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
  • $1,798

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5003$1,9004$1,9455$1,995
$1,995
RENT COMPS ANALYSIS
  • 529 W 18th Street Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 504 W 18th Street Tempe, AZ 2
    • 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1958
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.39
    •  
  • 517 W 18th Street Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,294 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,294 Sqft ∙ Built 1958
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.47
    •  
  • 1707 S Hardy Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1963
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $1.53
    •  
  • 1620 S Hardy Drive Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1963
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.39
    •  
PROPERTY LISTING DETAILS
Hilary C Sutter
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6201678
Last Updated: 03/04/2021
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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