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1002 E Medlock Drive Phoenix, AZ 85014

3 Beds 2 Baths 2,343 sqft Built 2014

$624,900

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $266.71
  • 3 Days on Market
  • MLS # : 6167938
  • Updated Date : 12/04/2020 at 16:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,343 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

FULL remodel! Just like NEW! Charming cottage/farmhouse style home in a great central location with mature trees, oversized green grassy yard, 9ft ceilings, tons of new lighting with a spacious open floor plan with a private den/office. Updates include gorgeous Provenza barn wood flooring throughout, new dual pane energy efficient windows with stunning marble inlays, modern white kitchen cabinetry with a contrasting black island, Carrera marble countertops, tile backsplash, and stainless steel appliances. The bathrooms have been upgraded with marble tile showers with a mosaic accent, brand new vanities and a classic clawfoot tub in the master suite and beautiful french door access to the backyard from the master. This home has all the upgrades and is sure to meet your family's needs!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Camelback East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $91k307k

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

Neighborhood: Camelback East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
Madison 1 Middle School Primary Regular 923 50 7
Madison 1 Middle School Middle Regular 923 50 7
North High School High Regular 2,616 128 5

Madison 1 Middle School

  • Education Level: Primary
  • # of students: 923
  • # of teachers: 50
7
GreatSchools Rating

Madison 1 Middle School

  • Education Level: Middle
  • # of students: 923
  • # of teachers: 50
7
GreatSchools Rating

North High School

  • Education Level: High
  • # of students: 2,616
  • # of teachers: 128
5
GreatSchools Rating
 

$562,410$687,390$624,900

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$2,306
Property Tax -$449
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
-$537

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.

$624,900

PROJECTED PRICE

$2,390

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.7%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,349

INVESTMENT

$171,349

Down Payment
$156,225
Rehab Estimate
$5,750
Closing Costs
$9,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,225
Loan Amount $468,675
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,906

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,741

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4503$2,7004$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 1002 E Medlock Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 2,343 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,343 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 920 E Mitchell Drive #105 Phoenix, AZ 2
    • 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2008
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.11
    •  
  • 920 E Mitchell Drive #102 Phoenix, AZ 3
    • 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2008
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.22
    •  
  • 6745 N 13th Street Phoenix, AZ 4
    • 3 beds 3 baths ∙ 2,663 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,663 Sqft ∙ Built 2006
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.13
    •  
  • 307 W Herro Lane Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 2011
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.22
    •  
PROPERTY LISTING DETAILS
George Laughton
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167938
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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