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PROPERTY INFO
FACTS
- Single Family
- Built In 1956
- Price/Sqft : $304.88
- 6 Days on Market
- MLS # : 6179787
- Updated Date : 02/13/2021 at 01:06
CONSTRUCTION
- Beds : 3
- Floor Size : 1,804 sqft
- Baths : 3 full
Listing Agent
West Usa Realty
Listing Agent's Description
This 3 bedroom/3 bathroom Santa-Fe-style home, which features $100K in renovations, is the most unique home on the street in this quirky Tempe neighborhood. There's new flooring, carpet, brand new kitchen appliances and quartz countertops throughout the home. The home also includes two garage areas with one that could easily be utilized as a workshop, office or mancave. The 10,000-plus square-foot lot is a huge selling point - just wait until you see the large yard! And there's no HOA in this neighborhood, which is in close proximity to ASU and Mill Avenue. Buyer to verify any information deemed important.
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PRICE & RENT TRENDS
Neighborhood: Downtown Tempe - Rio Salado
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Downtown Tempe - Rio Salado
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,930 |
| EXPENSES | Loan Payment | -$1,910 |
| Property Tax | -$362 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$504
|
||
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.
$550,000
PROJECTED PRICE
$1,930
PROJECTED RENT
0.35%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.35% |
| Appreciation Year (1-5) | 2.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.24% |
| 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
$151,500
LOAN DETAILS
$1,910
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $137,500 |
| Loan Amount | $412,500 |
1.33
YEARS SAVED
$3,339
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,930
LIST RENT -
$1.07
LIST RENT PER SQFT
-
$2,039
COMP ESTIMATED VALUE -
$1.13
COMP AVG. RENT PER SQFT
Comps Range
-
715 E Granada Drive Tempe, AZ 3
- 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1956 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1956
- Rent
- Rent Per SQFT
- $1,930
- $1.07
-
1416 S College Avenue Tempe, AZ 1
- 4 beds 2 baths ∙ 1,889 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,889 Sqft ∙ Built 1950
LEASED 08/15/20- Rent
- Rent Per SQFT
- $1,795
- $0.95
-
1719 E Gaylon Drive Tempe, AZ 2
- 4 beds 3 baths ∙ 1,664 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,664 Sqft ∙ Built 1971
LEASED 08/01/20- Rent
- Rent Per SQFT
- $1,800
- $1.08
-
1315 E Broadmor Drive Tempe, AZ 4
- 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1969
LEASED 07/01/20- Rent
- Rent Per SQFT
- $1,995
- $1.21
-
1421 S Oakley Place Tempe, AZ 5
- 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 1952
LEASED 07/01/20- Rent
- Rent Per SQFT
- $2,495
- $1.28
PROPERTY LISTING DETAILS
West Usa Realty
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6179787
Last Updated: 02/13/2021
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.
