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837 E Stephens Drive Tempe, AZ 85283

3 Beds 2 Baths 1,877 sqft Built 1975

$495,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $263.72
  • 2 Days on Market
  • MLS # : 6181779
  • Updated Date : 01/16/2021 at 22:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,877 sqft
  • Baths : 2 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

This is a rare find for a very nice 3 bedroom 2 bath 2CG home on a little over 1/4 acre cul-de-sac lot. in Tempe. One Owner Home is approx. 1877 SF and includes a Detached an additional garage / workshop / studio with storage loft plus wall unit air conditioner. There are formal living & dining rooms plus a large added on family room. All tile floors, large picture windows, double ovens, oak cabinets, separate large laundry room, split bedroom floor plan, ceiling fans, 2 cooktops, Refrigerator & more. The yard is very large and has grass and there is plenty of room for a swimming pool to be added if desired. RV Gate & full paved drive leads back to the detached garage / workshop / studio. Also has a beautiful outside covered tiled patio with built fireplace & seating.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Corona - South Tempe

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k358k

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

Neighborhood: Corona - South Tempe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $10002506

* 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
Kyrene De Los Ninos College Bound Dual Language Academy Primary Regular 706 40 6
Kyrene Middle School College Preparatory Academy Middle Regular 1,056 55 6
Marcos De Niza High School High Regular 1,582 76 4

Kyrene De Los Ninos College Bound Dual Language Academy

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 40
6
GreatSchools Rating

Kyrene Middle School College Preparatory Academy

  • Education Level: Middle
  • # of students: 1,056
  • # of teachers: 55
6
GreatSchools Rating

Marcos De Niza High School

  • Education Level: High
  • # of students: 1,582
  • # of teachers: 76
4
GreatSchools Rating
 

$445,500$544,500$495,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,719
Property Tax -$358
Property Insurance -$64
Property Management Fees -$99
CASH FLOW
-$550

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.

$495,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.9%
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-$10k-$5.0k$0.0$5.0k

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$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$707

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,980

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,7953$1,8004$1,9955$2,195
$2,195
RENT COMPS ANALYSIS
  • 837 E Stephens Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.90
    •  
  • 219 E Mcnair Drive Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1977
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.03
    •  
  • 745 E Mcnair Drive Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1979
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 1215 E Divot Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 1987
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.11
    •  
  • 813 E Todd Drive Tempe, AZ 5
    • 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 1977
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.11
    •  
PROPERTY LISTING DETAILS
Darrin M Fox
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181779
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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