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715 E Granada Drive Tempe, AZ 85281

3 Beds 3 Baths 1,804 sqft Built 1956

$550,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
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.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Downtown Tempe - Rio Salado

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Downtown Tempe - Rio Salado

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7671703

* 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
Broadmor Elementary School Primary Regular 673 35 8
Connolly Middle School Middle Regular 1,058 57 6
Tempe High School High Regular 1,550 78 3

Broadmor Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 35
8
GreatSchools Rating

Connolly Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 57
6
GreatSchools Rating

Tempe High School

  • Education Level: High
  • # of students: 1,550
  • # of teachers: 78
3
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

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
$1,795
1$1,7952$1,8003$1,9304$1,9955$2,495
$2,495
RENT COMPS ANALYSIS
  • 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
Shawn Rogers
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6179787
Last Updated: 02/13/2021
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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