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725 E Wesleyan Drive Tempe, AZ 85282

4 Beds 2 Baths 1,977 sqft Built 1963

$485,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $245.32
  • 2 Days on Market
  • MLS # : 6163468
  • Updated Date : 11/21/2020 at 06:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,977 sqft
  • Baths : 2 full
Listing Agent

Pro-formance Realty Concepts

Listing Agent's Description

These homes very rarely come onto the market. ONLY a mile & a half from Arizona State University. This is a remodeled 4 bed, 2 bath home in a beautiful neighborhood with grass front yards & mature trees. Both bathrooms have been modernized with man made quarts counter tops & new vanities. Master bath has new glass enclosed shower. The entire home has beautiful new rectangular tile flooring in neutral color. Kitchen also has brand new man made quarts counter tops. The home features a family room with a wood burning fire place & a step down living room,. There is no HOA & home has an RV gate. There is a large pool for the hot summers, nice large patio & a storage shed, fresh paint inside and outside. The garage was transformed into a large room but can easily be returned to a 2 car garage.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alameda Campus

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Alameda Campus

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $10002010

* 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
 

$436,500$533,500$485,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,789
Property Tax -$319
Property Insurance -$66
Property Management Fees -$99
CASH FLOW
-$294

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.

$485,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.3%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$10,930

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,071

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9803$1,9954$2,1005$2,250
$2,250
RENT COMPS ANALYSIS
  • 725 E Wesleyan Drive Tempe, AZ 2
    • 4 beds 2 baths ∙ 1,977 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,977 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.00
    •  
  • 610 E Alameda Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1963
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
  • 734 E Campus Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 2,011 Sqft ∙ Built 1963 3 beds 2 baths ∙ 2,011 Sqft ∙ Built 1963
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.99
    •  
  • 2823 S Terrace Road Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 1967
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.13
    •  
  • 1053 E Alameda Drive Tempe, AZ 5
    • 4 beds 2 baths ∙ 2,072 Sqft ∙ Built 1966 4 beds 2 baths ∙ 2,072 Sqft ∙ Built 1966
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.09
    •  
PROPERTY LISTING DETAILS
Rudolph M Soltesz
Pro-formance Realty Concepts
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163468
Last Updated: 11/21/2020
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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