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950 E Lilac Drive Tempe, AZ 85281

4 Beds 2 Baths 1,596 sqft Built 1963

$419,900

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $263.10
  • 6 Days on Market
  • MLS # : 6164154
  • Updated Date : 11/24/2020 at 18:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,596 sqft
  • Baths : 2 full
Listing Agent

Investar Real Estate Specialists Llc

Listing Agent's Description

Beautifully Remodeled single level home, located in Tempe, just minutes from the Phoenix Zoo, ASU, dining, shopping and Entertainment! As you walk in you are welcomed with an open concept floor plan. New Paint with a cool color. New Wood-look tile covers the entire home. Kitchen is complete with sleek granite counter tops, new cabinetry, ss appliances and a large dining area. The water heater is brand new, too. New Dual Pane windows throughout! Relax out back on covered patio. The huge backyard is perfect for the creative mind to make your own paradise. Additional storage shed is on the side of the house. Please check out this vacant house. This beautiful home is for you!

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
Laird School Primary Regular 433 29 2
Laird School Middle Regular 433 29 2
Mcclintock High School High Regular 1,771 81 6

Laird School

  • Education Level: Primary
  • # of students: 433
  • # of teachers: 29
2
GreatSchools Rating

Laird School

  • Education Level: Middle
  • # of students: 433
  • # of teachers: 29
2
GreatSchools Rating

Mcclintock High School

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

$377,910$461,890$419,900

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,549
Property Tax -$277
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
$17

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.

$419,900

PROJECTED PRICE

$2,000

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 11.1%
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$0.0$5.0k$10k$15k$20k

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$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,549

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$33,117

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $1,979

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$2,0004$2,1255$2,199
$2,199
RENT COMPS ANALYSIS
  • 950 E Lilac Drive Tempe, AZ 3
    • 4 beds 2 baths ∙ 1,596 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,596 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.25
    •  
  • 1921 N Cavalier Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1962
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.21
    •  
  • 1115 E Bluebell Lane Tempe, AZ 2
    • 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1962
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.08
    •  
  • 1146 E Marny Road Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,603 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,603 Sqft ∙ Built 1969
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $1.33
    •  
  • 1244 E Susan Lane Tempe, AZ 5
    • 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 1970
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $1.34
    •  
PROPERTY LISTING DETAILS
Weiguo Tang
Investar Real Estate Specialists Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164154
Last Updated: 11/24/2020
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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