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1037 E Ruth Avenue Phoenix, AZ 85020

3 Beds 2 Baths 1,934 sqft Built 1958

$434,999

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $224.92
  • 5 Days on Market
  • MLS # : 6185992
  • Updated Date : 01/29/2021 at 20:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,934 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Beautiful newly renovated home Central Corridor neighborhood. Upon entering, the home greets you with brand new tile flooring throughout while the open floor plan offers plenty of space for formal dining. It offers 3 spacious bedrooms and 2 updated bathrooms, in addition to a family room and a bonus big recreation room. The kitchen features custom solid wood cabinetry, new quartz countertops, custom tile backsplash, stainless appliances and a modern island with waterfall sides. The large master suite has everything you'd need with a seating area tucked into the rear of the home. The master also has a private bath with another beautifully tiled shower and a walk in closet! North facing backyard offers plenty of shade from covered patio. Newer roof and HVAC, a beautiful must see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: New Northtown

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: New Northtown

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8421567

* 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
Desert View Elementary School Primary Regular 454 29 3
Sunnyslope High School High Regular 2,064 88 6

Desert View Elementary School

  • Education Level: Primary
  • # of students: 454
  • # of teachers: 29
3
GreatSchools Rating

Sunnyslope High School

  • Education Level: High
  • # of students: 2,064
  • # of teachers: 88
6
GreatSchools Rating
 

$391,499$478,499$434,999

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,511
Property Tax -$260
Property Insurance -$65
Property Management Fees -$99
CASH FLOW
-$164

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.

$434,999

PROJECTED PRICE

$1,770

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.8%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,511

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $108,750
Loan Amount $326,249
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$14,088

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,924

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,770
1$1,7702$1,7823$1,8754$1,9905$2,100
$2,100
RENT COMPS ANALYSIS
  • 1037 E Ruth Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.92
    •  
  • 1213 E Orchid Lane Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1959
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,782
    • $1.00
    •  
  • 806 E El Caminito Drive Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 1956
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.96
    •  
  • 7757 N 12th Street Phoenix, AZ 4
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1954 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1954
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.02
    •  
  • 1117 E El Caminito Drive Phoenix, AZ 5
    • 4 beds 2 baths ∙ 2,099 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,099 Sqft ∙ Built 1959
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
PROPERTY LISTING DETAILS
Angel Ivan Herrera
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6185992
Last Updated: 01/29/2021
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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