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730 E Granada Drive Tempe, AZ 85281

4 Beds 2 Baths 1,522 sqft Built 1958

$450,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $295.66
  • 4 Days on Market
  • MLS # : 6200642
  • Updated Date : 03/27/2021 at 05:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,522 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Great opportunity for a 4-bed in Daley Park. Tucked away in the neighborhood on a very nice street. Walk/bike to ASU-only a half mile to campus. Remodeled kitchen with classic white cabinets, new stove, wine rack. Cool Mid-Century fireplace in dining room with french doors to a beautiful landscaped backyard and covered patio. Concrete floor, smooth ceilings. Tons of closets! Nice lighting. Roof, electric panel and AC unit all new within last 8 years. This is a great house. Great investment. Great location

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
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,563
Property Tax -$296
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$235

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.

$450,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.40%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$10,470

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,903

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$1,780
1$1,7802$1,8003$1,9954$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 730 E Granada Drive Tempe, AZ 1
    • 4 beds 2 baths ∙ 1,522 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,522 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $1.17
    •  
  • 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 3
    • 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
    •  
  • 1425 S Bonarden Lane Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1962
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.39
    •  
  • 2713 S Jentilly Lane Tempe, AZ 5
    • 4 beds 2 baths ∙ 1,672 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,672 Sqft ∙ Built 1965
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.32
    •  
PROPERTY LISTING DETAILS
Hilary C Sutter
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6200642
Last Updated: 03/27/2021
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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