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

605 E Alameda Drive Tempe, AZ 85282

2 Beds 2 Baths 1,633 sqft Built 1962

$369,500

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $226.27
  • 4 Days on Market
  • MLS # : 6176029
  • Updated Date : 01/01/2021 at 16:01
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,633 sqft
  • Baths : 1 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Great location in heart of Tempe. Ideal for family or college students. Close to ASU, shopping, schools, bus line. EZ access to US60/ I-10. Nice curb appeal with easy care front landscape. Freshly painted, in & out. Solid Block construction. Generous sized separate living room. Spacious Kitchen/Fam rm Combo w/ SS Refrig, Bosch dishwasher, Range/oven, Built-in Microwave and Breakfast bar. Roomy MBR. Lrg 2nd bdr (23x10.5ft) with sitting area/office/study. Originally 3bdr home, possibly converted to 3bdr if needed. Covered patio with add'l storage overlooks Pool. Lrg backyard w/Block fence. RV gate off alley to concrete parking slab and storage shed. Rear yard needs landscaping to enhance appearance.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alameda Campus

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Alameda Campus

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $10002010

* 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
Broadmor Elementary School Primary Regular 673 35 8
Connolly Middle School Middle Regular 1,058 57 6
Tempe High School High Regular 1,550 78 3

Broadmor Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 35
8
GreatSchools Rating

Connolly Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 57
6
GreatSchools Rating

Tempe High School

  • Education Level: High
  • # of students: 1,550
  • # of teachers: 78
3
GreatSchools Rating
 

$332,550$406,450$369,500

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,363
Property Tax -$243
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
$65

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.

$369,500

PROJECTED PRICE

$1,830

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$103,668

INVESTMENT

$103,668

Down Payment
$92,375
Rehab Estimate
$5,750
Closing Costs
$5,543

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,363

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,375
Loan Amount $277,125
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$32,246

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
  • $1,674

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5003$1,5504$1,6005$1,795
$1,795
RENT COMPS ANALYSIS
  • 605 E Alameda Drive Tempe, AZ 1
    • 2 beds 2 baths ∙ 1,633 Sqft ∙ Built 1962 2 beds 2 baths ∙ 1,633 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1405 E Malibu Drive Tempe, AZ 2
    • 2 beds 2 baths ∙ 1,704 Sqft ∙ Built 1970 2 beds 2 baths ∙ 1,704 Sqft ∙ Built 1970
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 325 E Huntington Drive Tempe, AZ 3
    • 2 beds 2 baths ∙ 1,431 Sqft ∙ Built 1972 2 beds 2 baths ∙ 1,431 Sqft ∙ Built 1972
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.08
    •  
  • 625 W 17th Place #b Tempe, AZ 4
    • 2 beds 2 baths ∙ 1,450 Sqft ∙ Built 1957 2 beds 2 baths ∙ 1,450 Sqft ∙ Built 1957
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
  • 5523 S Jolly Roger Road Tempe, AZ 5
    • 2 beds 2 baths ∙ 1,726 Sqft ∙ Built 1971 2 beds 2 baths ∙ 1,726 Sqft ∙ Built 1971
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.04
    •  
PROPERTY LISTING DETAILS
H. Reginald Sanchez
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176029
Last Updated: 01/01/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

BESbswy