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PROPERTY INFO
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.
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PRICE & RENT TRENDS
Neighborhood: Terrace Walk
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Terrace Walk
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$98,500
LOAN DETAILS
$1,216
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $87,500 |
| Loan Amount | $262,500 |
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
-
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
My Home Group Real Estate
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6192390
Last Updated: 02/11/2021
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.
