Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

820 W University Drive #17 Tempe, AZ 85281

3 Beds 3 Baths 1,098 sqft Built 1983

$295,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $269.49
  • 2 Days on Market
  • MLS # : 6194130
  • Updated Date : 02/13/2021 at 23:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,098 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21-platinum Real Estate

Listing Agent's Description

This 3bedrm/2.5bath home is perfect for investors or first time homebuyers*Owners have updated-Freshly painted thru-out, New 12x24''porcelain tile downstairs with 3.5'' baseboards*Lighting features-Can lighting greatrm, recessed lighting-Breakfast bar & sink,LED soffit lighting,& 1/2bath LED wall sconce*New Kohler stainless steel sink*White 2'' blinds thru-out*Full motion TV wall mount greatrm*AC-new vent covers(registers) thru-out*Private fenced patio pavers installed with auto drip landscape*New rain gutter off back patio*Front-newer Chilean Mesquite tree*Parking-1 car garage, front driveway parking & mini car parking in front of garage door is allowed by HOA*Great central valley location!Easy freeway access to 202,101,I-10 & US60*ASU main campus,Whole Foods & many restaurants nearby

SEE MORE

PRICE & RENT TRENDS

Neighborhood: University Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k290k

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

Neighborhood: University Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6941703

* 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
Scales Technology Academy Primary Regular 533 33 3
Gililland Middle School Middle Regular 901 59 3
Tempe High School High Regular 1,550 78 3

Scales Technology Academy

  • Education Level: Primary
  • # of students: 533
  • # of teachers: 33
3
GreatSchools Rating

Gililland Middle School

  • Education Level: Middle
  • # of students: 901
  • # of teachers: 59
3
GreatSchools Rating

Tempe High School

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

$266,310$325,490$295,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,028
Property Tax -$195
Property Insurance -$49
HOA -$52
Property Management Fees -$99
CASH FLOW
$278

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.

$295,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,164

INVESTMENT

$84,164

Down Payment
$73,975
Rehab Estimate
$5,750
Closing Costs
$4,439

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,028

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,975
Loan Amount $221,925
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$44,614

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.55

    LIST RENT PER SQFT
  • $1,696

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6503$1,6954$1,7005$2,000
$2,000
RENT COMPS ANALYSIS
  • 820 W University Drive #17 Tempe, AZ 4
    • 3 beds 3 baths ∙ 1,098 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,098 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.55
    •  
  • 510 W University Drive #209 Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,081 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,081 Sqft ∙ Built 2003
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.48
    •  
  • 820 W University Drive #7 Tempe, AZ 2
    • 3 beds 3 baths ∙ 1,098 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,098 Sqft ∙ Built 1983
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.50
    •  
  • 820 W University Drive #5 Tempe, AZ 3
    • 3 beds 3 baths ∙ 1,098 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,098 Sqft ∙ Built 1983
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.54
    •  
  • 752 S Beck Avenue Tempe, AZ 5
    • 3 beds 3 baths ∙ 1,206 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,206 Sqft ∙ Built 2003
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.66
    •  
PROPERTY LISTING DETAILS
Karla Hoffer
Century 21-platinum Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6194130
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.

BESbswy