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6830 S Dennis Drive Tempe, AZ 85283

3 Beds 2 Baths 1,296 sqft Built 1986

$350,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $270.06
  • 5 Days on Market
  • MLS # : 6192390
  • Updated Date : 02/11/2021 at 16:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,296 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Situated minutes from South Mountain Preserve is this wonderful 3 bed, 2 bath home! This property has an East/West facing exposure, desert landscaping, stucco tile roof, and a 2-car garage. The interior has a formal family and dining room, fireplace, vaulted ceilings, ceiling fans throughout, tile and carpet flooring, plantation shutters, and inside laundry space. The eat-in kitchen has stainless steel appliances and plenty of cabinet space. The large master suite has closet space, dual sinks, and access to the backyard through a sliding glass door. The backyard has a water system with timer, a pergola, and a covered patio. Located close to the Ken McDonald Golf Course, the Tempe Sports Complex, the YMCA, Costco, Trader Joe's, Safeway, the UPS Store, & many local dining and shopping spots.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Terrace Walk

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Terrace Walk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8071981

* 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
Kyrene De La Mariposa Elementary School Primary Regular 548 29 8
Kyrene Middle School College Preparatory Academy Middle Regular 1,056 55 6
Marcos De Niza High School High Regular 1,582 76 4

Kyrene De La Mariposa Elementary School

  • Education Level: Primary
  • # of students: 548
  • # of teachers: 29
8
GreatSchools Rating

Kyrene Middle School College Preparatory Academy

  • Education Level: Middle
  • # of students: 1,056
  • # of teachers: 55
6
GreatSchools Rating

Marcos De Niza High School

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

$315,000$385,000$350,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,216
Property Tax -$253
Property Insurance -$52
HOA -$60
Property Management Fees -$99
CASH FLOW
-$250

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.

$350,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,639

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,516

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,5753$1,5954$1,6005$1,613
$1,613
RENT COMPS ANALYSIS
  • 6830 S Dennis Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.10
    •  
  • 6811 S Dennis Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1987
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.22
    •  
  • 600 W Grove Parkway #1111 Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1996
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.19
    •  
  • 1026 W Libra Drive Tempe, AZ 4
    • 3 beds 3 baths ∙ 1,461 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,461 Sqft ∙ Built 1995
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
  • 1013 W Cornell Drive Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1980
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,613
    • $1.17
    •  
PROPERTY LISTING DETAILS
Daniel Brown
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192390
Last Updated: 02/11/2021
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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