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7131 S Elm Street Tempe, AZ 85283

3 Beds 2 Baths 1,224 sqft Built 1984

$329,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $268.79
  • 2 Days on Market
  • MLS # : 6190992
  • Updated Date : 02/07/2021 at 02:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,224 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Charming modern home in the heart of South Tempe!! This fully remodeled, easy to maintan house comes with a new roof, HVAC ducting, upgraded insulation, new flooring, paint, cabinets, bathrooms, lighting, and sliding door. Nice size backyard with a pool and zero maintenance turf, RV gates and parking. This home is move in ready. New climate controlled bonus room!! with great lighting and access to outside, perfect for an office or business. No HOA! This home won't last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dava-Lakeshore

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Dava-Lakeshore

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9461981

* 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 Los Ninos College Bound Dual Language Academy Primary Regular 706 40 6
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 Los Ninos College Bound Dual Language Academy

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 40
6
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
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,143
Property Tax -$238
Property Insurance -$51
Property Management Fees -$99
CASH FLOW
-$180

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.

$329,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.1%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,377

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
  • $1,362

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4953$1,6504$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 7131 S Elm Street Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1855 E Sunburst Lane Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1982
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.10
    •  
  • 6743 S Lakeshore Drive Tempe, AZ 3
    • 4 beds 2 baths ∙ 1,510 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,510 Sqft ∙ Built 1974
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 6451 S Butte Avenue Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1984
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.10
    •  
  • 7440 S Juniper Street Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1982
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.16
    •  
PROPERTY LISTING DETAILS
Aaron Whitley
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190992
Last Updated: 02/07/2021
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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