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5617 S Pirates Cove Road Tempe, AZ 85283

3 Beds 3 Baths 2,469 sqft Built 1978

$524,900

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $212.60
  • 3 Days on Market
  • MLS # : 6160066
  • Updated Date : 11/14/2020 at 12:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,469 sqft
  • Baths : 2 full , 1 half
Listing Agent

Az Flat Fee

Listing Agent's Description

STUNNING waterfront home in Tempe's Lakes this 3 bed, 2.5 bath waterfront property features grassy landscaping with a 2 car garage and easy access to the community's many amenities. The lavish interior boasts vaulted ceilings, large dining and living areas each with its own fireplace, a cozy den, and neutral paint throughout. The fabulous kitchen offers ample cabinetry with granite countertops, high-end appliances and a lovely breakfast bar. Upstairs boosts 3 bedrooms, the master has an ensuite bath with double sinks and a spacious walk-in closet. All bedrooms open onto a large balcony with long views of the water. Mature trees and lush grass make this home an entertainers dream inside and out! Hurry and schedule a showing before it's gone!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k372k

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

Neighborhood: The Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $10002037

* 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
Rover Elementary School Primary Regular 511 29 7
Rover Elementary School Middle Regular 511 29 7
Marcos De Niza High School High Regular 1,582 76 4

Rover Elementary School

  • Education Level: Primary
  • # of students: 511
  • # of teachers: 29
7
GreatSchools Rating

Rover Elementary School

  • Education Level: Middle
  • # of students: 511
  • # of teachers: 29
7
GreatSchools Rating

Marcos De Niza High School

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

$472,410$577,390$524,900

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,937
Property Tax -$346
Property Insurance -$75
HOA -$35
Property Management Fees -$99
CASH FLOW
-$202

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.

$524,900

PROJECTED PRICE

$2,290

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.0%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,849

INVESTMENT

$144,849

Down Payment
$131,225
Rehab Estimate
$5,750
Closing Costs
$7,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,225
Loan Amount $393,675
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$18,904

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,376

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2503$2,2904$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 5617 S Pirates Cove Road Tempe, AZ 3
    • 3 beds 3 baths ∙ 2,469 Sqft ∙ Built 1978 3 beds 3 baths ∙ 2,469 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.93
    •  
  • 5432 S Lighthouse Lane Tempe, AZ 1
    • 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1973
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.95
    •  
  • 1816 E Auburn Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 1973 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 1973
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
  • 5627 S Jolly Roger Road Tempe, AZ 4
    • 4 beds 4 baths ∙ 2,478 Sqft ∙ Built 1972 4 beds 4 baths ∙ 2,478 Sqft ∙ Built 1972
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.95
    •  
  • 1427 E Bayview Drive Tempe, AZ 5
    • 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1972
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.93
    •  
PROPERTY LISTING DETAILS
Richard Harless
Az Flat Fee
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160066
Last Updated: 11/14/2020
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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