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101 N 7th Street #160 Phoenix, AZ 85034

2 Beds 2 Baths 1,076 sqft Built 1986

$265,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $246.28
  • 4 Days on Market
  • MLS # : 6159413
  • Updated Date : 11/14/2020 at 07:40
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,076 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Beautifully remodeled 2BD/2BA ground floor townhouse in the heart of Downtown Phoenix. This gated Renaissance Park community is close proximity to ASU/UofA, Chase Field, Heritage Square, Light Rail, T-Gen, AZ Science Center & Talking Stick Resort Arena. Unit is lightly lived in with spacious kitchen & granite countertops, stainless appliances, 20'' travertine floors, ample closets,standard w/d, 3 ceiling fans,sunscreens, and a fresh coat of interior paint! Landscaped grounds features a community pool, heated spa, burbling brook, and lush vegetation. 1 covered spaces. HOA dues of $295/mo cover water/sewer/garbage and more keeping your cost of living here low. These sell fast !

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Booker T. Washington

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Booker T. Washington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8551567

* 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
Garfield School Primary Regular 427 19 3
Garfield School Middle Regular 427 19 3
North High School High Regular 2,616 128 5

Garfield School

  • Education Level: Primary
  • # of students: 427
  • # of teachers: 19
3
GreatSchools Rating

Garfield School

  • Education Level: Middle
  • # of students: 427
  • # of teachers: 19
3
GreatSchools Rating

North High School

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

$238,500$291,500$265,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$978
Property Tax -$141
Property Insurance -$48
HOA -$295
Property Management Fees -$99
CASH FLOW
-$241

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.

$265,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,473

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
  • $1,200

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2753$1,3954$1,4255$1,459
$1,459
RENT COMPS ANALYSIS
  • 101 N 7th Street #160 Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,076 Sqft ∙ Built 1986 2 beds 2 baths ∙ 1,076 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 101 N 7th Street #121 Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,161 Sqft ∙ Built 1985 2 beds 2 baths ∙ 1,161 Sqft ∙ Built 1985
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.10
    •  
  • 101 N 7th Street #101 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,259 Sqft ∙ Built 1985 2 beds 2 baths ∙ 1,259 Sqft ∙ Built 1985
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.11
    •  
  • 17 W Vernon Avenue #305 Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,277 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,277 Sqft ∙ Built 2005
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.12
    •  
  • 615 E Portland Street #209 Phoenix, AZ 5
    • 2 beds 3 baths ∙ 1,288 Sqft ∙ Built 2004 2 beds 3 baths ∙ 1,288 Sqft ∙ Built 2004
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,459
    • $1.13
    •  
PROPERTY LISTING DETAILS
Garry Lipko
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159413
Last Updated: 11/14/2020
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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