Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5604 S College Avenue Tempe, AZ 85283

3 Beds 2 Baths 1,267 sqft Built 1973

$335,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $264.40
  • 7 Days on Market
  • MLS # : 6152982
  • Updated Date : 10/28/2020 at 13:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,267 sqft
  • Baths : 1 full , 1 half
Listing Agent

Arrow Property Management

Listing Agent's Description

Lovely home with great location in University Royal - very close to Kiwanis Park. On bus line. Gray slump block exterior, no-paint siding and wrought iron touches give this home a southwest feel. Mature landscaping - Acacia, palm, citrus, lantana, bougainvillea, purple sage, ocotillo, huge pine tree as well as desert landscaping front and back. Two wood sheds in the back yard. One covers a cellar for extra storage. Two car carport has pull down stairs for attic access. Storage room off carport houses water heater and lots of storage. Master suite has 3/4 bath, walk in closet and window facing the front yard. Come see your new home! :-)

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Kiwanis - the Lakes

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k358k

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

Neighborhood: Kiwanis - the Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9681981

* 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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,236
Property Tax -$221
Property Insurance -$52
Property Management Fees -$99
CASH FLOW
-$127

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.

$335,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 8.4%
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

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,647

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,482

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,4953$1,5954$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 5604 S College Avenue Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.17
    •  
  • 5337 S El Camino Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 1972
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.18
    •  
  • 731 E Tulane Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1973
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.20
    •  
  • 6104 S El Camino Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1972
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.14
    •  
  • 220 E Colgate Drive Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1971
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.16
    •  
PROPERTY LISTING DETAILS
Damon Williams
Arrow Property Management
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152982
Last Updated: 10/28/2020
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.

BESbswy