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605 E La Jolla Drive Tempe, AZ 85282

4 Beds 2 Baths 2,046 sqft Built 1968

$425,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $207.72
  • 4 Days on Market
  • MLS # : 6195872
  • Updated Date : 02/19/2021 at 18:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,046 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Phoenix

Listing Agent's Description

Rare opportunity to own a beautiful 4 bedroom, 2 bath home in the heart of Tempe! Charming curb appeal in this established neighborhood is walking distance to the elementary school! Great layout w/a separate formal living/dining area, great room concept with updated kitchen & eat in dining space overlooks the family room. Oversized picture windows bring in tons of natural light & overlook the beautifully landscaped and peaceful backyard. Master bedroom and attached bath were updated in 2017 including a cedar lined master closet! Exterior of the home was painted in 2019 and large 2 car garage has a bonus workshop area. Relaxing backyard has extended covered patio, landscaped pavers & seating area & a large grassy area w/room for a pool! Don't hesitate on this home it won't last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alameda

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Alameda

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550160016501700Rent in $10001711

* 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
Carminati Elementary School Primary Regular 372 24 4
Connolly Middle School Middle Regular 1,058 57 6
Tempe High School High Regular 1,550 78 3

Carminati Elementary School

  • Education Level: Primary
  • # of students: 372
  • # of teachers: 24
4
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
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,476
Property Tax -$280
Property Insurance -$67
Property Management Fees -$99
CASH FLOW
$258

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.

$425,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$51,076

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,179

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,1804$2,2005$2,395
$2,395
RENT COMPS ANALYSIS
  • 605 E La Jolla Drive Tempe, AZ 3
    • 4 beds 2 baths ∙ 2,046 Sqft ∙ Built 1968 4 beds 2 baths ∙ 2,046 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.07
    •  
  • 428 E Carter Drive Tempe, AZ 1
    • 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 1970
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.01
    •  
  • 446 E Carter Drive Tempe, AZ 2
    • 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1970
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.07
    •  
  • 1118 E Laguna Drive Tempe, AZ 4
    • 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 1963
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.06
    •  
  • 439 E Malibu Drive Tempe, AZ 5
    • 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 1961 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 1961
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.12
    •  
PROPERTY LISTING DETAILS
William Carter
Keller Williams Realty Phoenix
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6195872
Last Updated: 02/19/2021
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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