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602 E Taylor St
Score
0
Tempe, AZ

602 E Taylor St

890K
4 bd • 3 ba • 1,815 sf

This analysis was generated on 2/14/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

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List Price

$890,000

Price/Sq.Ft

$490

Year Built

1961

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Prime Location: The property is located within 10 minutes of Old Town Scottsdale, Scottsdale Fashion Square, Sky Harbor Airport, and ASU, offering convenient access to a variety of amenities and attractions. • Short-Term Rental Potential: The property is currently operating as a fully furnished short-term rental with over $74,000 in new bookings, presenting immediate income potential. The listing highlights its unique character and entertainment options, making it a desirable option for tourists and visitors. • Recent Upgrades: The property has undergone $120,000 in new upgrades, suggesting that it is in good condition and requires minimal immediate maintenance. The updated kitchen with a massive island is a notable feature. • Resort-Style Backyard: The property boasts a resort-style backyard with a heated pool, hot tub, cabana, outdoor shower, and built-in grill, providing a desirable outdoor living space. • Open Concept Great Room: The open concept great room with durable wood grain tile floors and an abundance of natural lighting creates a spacious and inviting living area.

The Bad

• School Ratings: The assigned schools (Yavapai Elementary, Tonalea Elementary, Coronado High School) have a low rating of 3/10. This may be a significant drawback for buyers with school-aged children. • Age of the Property: Built in 1961, the property is relatively old and may require ongoing maintenance and repairs. Older homes can have issues with plumbing, electrical systems, and insulation. • Size of the Home: At 1,815 square feet, the home is smaller than average for a 4-bedroom property in Tempe. This may be a drawback for buyers who need more space. • Lack of Room Details: The listing does not provide any room details, such as room sizes or layouts. This makes it difficult to assess the suitability of the property for specific needs. • Moderate Fire Risk: The property has a moderate fire risk (4/10), which may result in higher insurance premiums.

The Ugly

• High Price per Square Foot: At $490.36 per square foot, the property is priced significantly higher than the median for Tempe, which was around $400 per square foot in 2024. This premium may not be justified by the property's features or condition. • Unclear ROI: While the listing mentions $74,000 in new bookings, it does not provide information on the property's operating expenses or net income as a short-term rental. It's essential to verify these figures to determine the actual return on investment. • School Quality Concerns: The assigned schools have a rating of 3/10, which is below average and may be a deterrent for buyers with school-aged children. This could impact the property's long-term value. • Extreme Heat Risk: The property faces an extreme heat risk (9/10), with a 98th percentile temperature of 112°F and 7 hot days per year. This could lead to high cooling costs and require additional measures to mitigate the heat. • Pole Fitness Studio: The inclusion of a pole fitness studio may be considered a niche feature that appeals to a limited audience. This could potentially narrow the pool of potential buyers.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Short-Term Rental (STR) Investors: The property is already operating as a fully furnished STR with $74,000 in future bookings, presenting immediate income potential. The location is desirable, being close to Old Town Scottsdale, Sky Harbor Airport, and ASU, making it attractive to tourists and visitors. The unique entertainment options, such as the heated pool, hot tub, and pole fitness studio, differentiate it from other STRs in the area. • Buyers Valuing Location and Amenities: The property's location offers convenient access to Scottsdale and Tempe amenities, including dining, shopping, nightlife, and ASU. The proximity to Sky Harbor Airport is an additional advantage for frequent travelers. The resort-style backyard with a heated pool, hot tub, and outdoor kitchen provides a desirable outdoor living space. • Buyers Seeking a Move-In Ready Home: The property has undergone $120,000 in recent upgrades and is being sold fully furnished, which reduces the upfront costs and efforts associated with moving and decorating. The open-concept great room, modern kitchen, and updated backyard make it appealing to buyers who prefer a turnkey property. • Those Who Appreciate Unique Features: The home's unique features, such as the pole fitness studio and resort-style backyard, cater to buyers looking for something different and entertaining. The seller positions the property as having unique character on the STR market.

Not For

• Buyers Seeking a Quiet, Low-Traffic Neighborhood: The property's proximity to Old Town Scottsdale, Sky Harbor Airport, and ASU means it is located in a high-traffic area with potential noise and congestion. This may not be suitable for buyers who prefer a more peaceful and secluded environment. • Buyers Prioritizing School Quality: The assigned schools (Yavapai Elementary School, Tonalea Elementary School, Coronado High School) have a rating of 3/10, which may not meet the needs of buyers with school-aged children who prioritize high-quality education. • Buyers Seeking a Large Family Home: At 1,815 square feet, the property may be small for larger families who prefer a more spacious home. The focus on entertainment and STR use may also make it less suitable for traditional family living. • Buyers on a Tight Budget: The asking price of $890,000 and the focus on high-end upgrades and entertainment features may make this property unaffordable for buyers on a limited budget.
Demographics
Area Median Income

$0

Property History

Price History
Ownership Timeline
$0Cash Purchase
Oct 17, 2023
Joan HamiltonJoanie Hamilton Homes Llc
Warranty Deed
Non-Arm's Length Transactions
$640,000Financed
Oct 9, 2023
Sid P Bingham, The Sid P Bingham Family TrustJoan Hamilton
Warranty Deed
Standard Sale (Purchase/Resales)
$476,000Financed
Oct 26, 2020
Quality Remodeling LlcSid P Bingham, The Sid P Bingham Family Trust
Warranty Deed
Standard Sale (Purchase/Resales)
$293,000Financed
Feb 21, 2020
Olivas Portfolio LlcQuality Remodeling Llc
Warranty Deed
Standard Sale (Purchase/Resales)
$275,000Financed
Dec 6, 2019
Johnny S GarciaOlivas Portfolio Llc
Warranty Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Mar 16, 2007
Johnny S GarciaJohnny S Garcia, Araceli Martinez
Intrafamily Transfer
Non-Arm's Length Transactions
$0Cash Purchase
Mar 8, 2007
Araceli MartinezJohnny S Garcia
Intrafamily Transfer
Non-Arm's Length Transactions
$0Cash Purchase
Jan 10, 2007
George R SaikiJohnny S Garcia
Quit Claim Deed
Non-Arm's Length Transactions
$0Cash Purchase
Aug 20, 2002
Raymond F Lester, Carla A LesterGeorge R Saiki
Re-Recorded Document
Non-Arm's Length Transactions
$149,000Financed
Aug 20, 2002
Raymond F Lester, Carla A LesterGeorge R Saiki
Warranty Deed
Standard Sale (Purchase/Resales)

Sunlight Analysis

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Sunlight Analysis

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Schools

Nearby school quality by education level

Elementary

3.0/10
Below Average

Middle

3.0/10
Below Average

High

3.0/10
Below Average

Financials

Monthly Costs
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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$890,000
Price/sqft
$490
Layout
4 bd3 ba
Days on market
29 daysat time of analysis

Stats in the Area

Based on 6 comparable properties nearby

Average Price

$677,917

31.3%

Your price is 31.3% above average

Median Price

$805,000

10.6%

Based on 6 recent sales

Price per Sq.Ft

$398

23.2%

Your price is 23.2% above average $/sqft

Comparable Properties

1501 N MILLER Road #1012, Scottsdale, AZ 85257
Price: $805,000
Sq.Ft: 2,080
Beds/Baths: 3/3
$/Sq.Ft:
$38721.1%
Sale Date: 10/20/2024
7549 E BELLEVIEW Street, Scottsdale, AZ 85257
Price: $650,000
Sq.Ft: 1,888
Beds/Baths: 5/3
$/Sq.Ft:
$34429.8%
Sale Date: 9/5/2024
110 E TAYLOR Street, Tempe, AZ 85288
Price: $487,500
Sq.Ft: 1,711
Beds/Baths: 4/2
$/Sq.Ft:
$28541.9%
Sale Date: 10/31/2024
2100 N SQUIRE Avenue, Tempe, AZ 85288
Price: $465,000
Sq.Ft: 1,472
Beds/Baths: 3/2
$/Sq.Ft:
$31635.6%
Sale Date: 12/11/2024
7502 E LATHAM Street, Scottsdale, AZ 85257
Price: $815,000
Sq.Ft: 1,456
Beds/Baths: 3/2
$/Sq.Ft:
$56014.2%
Sale Date: 12/13/2024
7025 E BELLEVIEW Street, Scottsdale, AZ 85257
Price: $845,000
Sq.Ft: 1,700
Beds/Baths: 3/2
$/Sq.Ft:
$4971.4%
Sale Date: 10/19/2024

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