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936 E Wesleyan Drive Tempe, AZ 85282

4 Beds 2 Baths 2,012 sqft Built 1965

$470,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $233.60
  • 3 Days on Market
  • MLS # : 6166370
  • Updated Date : 12/04/2020 at 12:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,012 sqft
  • Baths : 1 full , 1 half
Listing Agent

Prosmart Realty

Listing Agent's Description

The moment you walk into this charming N/S face ranch-style home in the beautiful community of Tempe Royal Palms you know you've arrived! Remodeled interior includes new kitchen with S/S appliances, expanded master bath and updated secondary bath, new windows, neutral tile, carpet and paint, along with added pavers at the front porch. Open great room and flex space off the kitchen lends well to office, school, playroom, or workout space. Don't delay, this highly desirable area of Tempe is moving swiftly!

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PRICE & RENT TRENDS

Neighborhood: Rural-Geneva

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k307k

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

Neighborhood: Rural-Geneva

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $10001813

* 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
Hudson Elementary School Primary Regular 476 26 6
Connolly Middle School Middle Regular 1,058 57 6
Mcclintock High School High Regular 1,771 81 6

Hudson Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 26
6
GreatSchools Rating

Connolly Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 57
6
GreatSchools Rating

Mcclintock High School

  • Education Level: High
  • # of students: 1,771
  • # of teachers: 81
6
GreatSchools Rating
 

$423,000$517,000$470,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,734
Property Tax -$310
Property Insurance -$66
Property Management Fees -$99
CASH FLOW
-$339

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.

$470,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.6%
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$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$8,777

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,082

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,870
1$1,8702$1,8953$1,9954$2,1005$2,250
$2,250
RENT COMPS ANALYSIS
  • 936 E Wesleyan Drive Tempe, AZ 1
    • 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.93
    •  
  • 1224 E Del Rio Drive Tempe, AZ 2
    • 4 beds 2 baths ∙ 2,032 Sqft ∙ Built 1966 4 beds 2 baths ∙ 2,032 Sqft ∙ Built 1966
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
  • 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
    property image
    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
    property image
    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
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.09
    •  
PROPERTY LISTING DETAILS
Barbara M Guy
Prosmart Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6166370
Last Updated: 12/04/2020
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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