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731 E Fillmore Street Tempe, AZ 85281

3 Beds 3 Baths 1,606 sqft Built 1961

INVESTimate

$410,000

List Price

$1,630

$1,467 - $1,793

Rent Est.

$455,633  ( +11.13%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $255.29
  • 3 Days on Market
  • MLS # : 6120713
  • Updated Date : 08/25/2020 at 18:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,606 sqft
  • Baths : 2 full , 1 half
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Totally remodeled just 3 years ago, this home is an oasis of comfort and luxury with a split master floorplan, 2.5 bathrooms, and a great location! This home has been completely rewired with electric, all new plumbing throughout, new sewer line to the alley, new HVAC ducting blowing ice cold air and more! Outside is great for entertaining with a large diving pool, gazebo and custom deck with built in cooler. Be close to all the Tempe and Old Town Scottsdale action with the convenience of 101 and 202 access just minutes away.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Papago - North Tempe

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Papago - North Tempe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800100012001400160018002000Rent in $7112187

* 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
Yavapai Elementary School Primary Regular 421 26 4
Coronado High School High Regular 1,039 61 2

Yavapai Elementary School

  • Education Level: Primary
  • # of students: 421
  • # of teachers: 26
4
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 1,039
  • # of teachers: 61
2
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,513
Property Tax -$184
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$222

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.

$410,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 11.13%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$13,016

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,764

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,6303$1,8004$1,8505$1,950
$1,950
RENT COMPS ANALYSIS
  • 731 E Fillmore Street Tempe, 2
    • 3 beds 3 baths ∙ 1,473 Sqft ∙ Built 1961 3 beds 3 baths ∙ 1,473 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.11
    •  
  • 7319 E Garfield Street Scottsdale, 1
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1960
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.12
    •  
  • 2107 N Van Ness Avenue Tempe, 3
    • 4 beds 2 baths ∙ 1,473 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,473 Sqft ∙ Built 1961
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.22
    •  
  • 434 E Beatryce Street Tempe, 4
    • 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1959
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.24
    •  
  • 7237 E Mckinley Street Scottsdale, 5
    • 4 beds 2 baths ∙ 1,617 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,617 Sqft ∙ Built 1961
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.21
    •  
PROPERTY LISTING DETAILS
Steve R Casillas
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120713
Last Updated: 08/25/2020
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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