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631 E Fillmore Street Tempe, AZ 85281

3 Beds 2 Baths 1,278 sqft Built 1960

$360,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $281.69
  • 4 Days on Market
  • MLS # : 6180867
  • Updated Date : 01/14/2021 at 18:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,278 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

Don't miss this single level home in Papago Manor! This home has been refreshed with new interior paint, new luxury vinyl plank flooring, and new carpet in the bedrooms. The kitchen features new Quartz countertops and new stainless steel appliances. The primary bedroom has an ensuite bathroom with a walk in shower. Spacious backyard with a covered patio and an RV gate and parking. GREAT location near LOTS of Shopping & Dining. Also near, neighborhood parks, TONS of golf, LOTS of hiking and biking trails, and easy freeway access. Vacant and ready for viewing, come see!

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

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,250
Property Tax -$162
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 14% of earned rent to cover both maintenance and periods of vacancy.

$360,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.47%

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$20k

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 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$34,899

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $1,700

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6903$1,7504$1,8005$2,025
$2,025
RENT COMPS ANALYSIS
  • 631 E Fillmore Street Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.32
    •  
  • 2103 N Van Ness Avenue Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1961
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.40
    •  
  • 1921 N Cavalier Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1962
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.21
    •  
  • 2107 N Van Ness Avenue Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,473 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,473 Sqft ∙ Built 1961
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.22
    •  
  • 36 E Fillmore Street Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1959
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $1.49
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6180867
Last Updated: 01/14/2021
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.

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