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1023 E Whitton Avenue Phoenix, AZ 85014

3 Beds 1 Baths 1,800 sqft Built 1950

$450,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $250.00
  • 3 Days on Market
  • MLS # : 6203243
  • Updated Date : 03/05/2021 at 23:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 1 full
Listing Agent

West Usa Realty

Listing Agent's Description

Home is located in a very quaint neighborhood with historic bungalows scattered throughout. Close to restaurants and easy access to I10, downtown Phoenix, arts district & sports complexes. This charming home has a remodeled kitchen with gas oven & stainless steel appliances, gorgeous remodeled bath, tile in the main area of the home with new carpet in the bedrooms. Lots of room for storage with a separate storage/workshop area and a 10X16 Tuff shed. Plenty of room to expand on this .29 acre lot, one of the biggest in the area. The yard boasts mature trees along with grapefruit, fig and pecan trees. Virtually tour this home via zoom, Sat 3/6 at 9 AM and Noon or Sun 3/7 at 10 AM. Zoom link under Open Houses.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Encanto

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Encanto

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8161567

* 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
Osborn Middle School Middle Alternative 565 30 5
North High School High Regular 2,616 128 5
Phoenix Coding Academy High Unknown NA

Osborn Middle School

  • Education Level: Middle
  • # of students: 565
  • # of teachers: 30
5
GreatSchools Rating

North High School

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

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,563
Property Tax -$237
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$271

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.

$450,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.2%
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

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,935

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
  • $2,021

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7503$1,7954$2,2505$2,350
$2,350
RENT COMPS ANALYSIS
  • 1023 E Whitton Avenue Phoenix, AZ 1
    • 3 beds 1 baths ∙ 1,800 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,800 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 70 E Ashland Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1940
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 351 E Thomas Road #d101 Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1960
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.11
    •  
  • 1355 E Weldon Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1946
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.19
    •  
  • 1221 E Windsor Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1951 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1951
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.13
    •  
PROPERTY LISTING DETAILS
Bonnie J Bell
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203243
Last Updated: 03/05/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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