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611 E Papago Drive Tempe, AZ 85281

3 Beds 2 Baths 1,053 sqft Built 1961

$360,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $341.88
  • 2 Days on Market
  • MLS # : 6167561
  • Updated Date : 12/05/2020 at 02:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,053 sqft
  • Baths : 2 full
Listing Agent

Gentry Real Estate

Listing Agent's Description

Amazingly Remodeled Home in the HOT Papago Manor! Open Floor Plan with Gorgeous NEW Wood (like) flooring and Soft-Close Cabinets. Cook with your new GAS Range while your friends or family are sitting at the island. Both bathrooms remodeled and ready to be your sanctuary. Newer roof with modern paint inside and out. Driveway was extended to fit the family cars. Yards are low maintenance and GARAGE!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Papago - North Tempe

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Papago - North Tempe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800100012001400160018002000Rent in $7112187

* 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
Yavapai Elementary School Primary Regular 421 26 4
Coronado High School High Regular 1,039 61 2

Yavapai Elementary School

  • Education Level: Primary
  • # of students: 421
  • # of teachers: 26
4
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 1,039
  • # of teachers: 61
2
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,328
Property Tax -$162
Property Insurance -$48
Property Management Fees -$99
CASH FLOW
-$7

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.

$360,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 11.1%
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

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$27,414

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
  • $1,624

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5503$1,6004$1,7505$1,945
$1,945
RENT COMPS ANALYSIS
  • 611 E Papago Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,053 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,053 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 633 E Papago Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,034 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,034 Sqft ∙ Built 1961
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.50
    •  
  • 2103 N Van Ness Avenue Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1961
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.42
    •  
  • 7407 E Polk Street Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,148 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,148 Sqft ∙ Built 1961
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.52
    •  
  • 402 N 73rd Street Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1961
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $1.73
    •  
PROPERTY LISTING DETAILS
Kyle D Karges
Gentry Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167561
Last Updated: 12/05/2020
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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