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1046 E Highland Avenue Phoenix, AZ 85014

4 Beds 3 Baths 1,851 sqft Built 1955

$500,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $270.12
  • 73 Days on Market
  • MLS # : 6153810
  • Updated Date : 01/05/2021 at 23:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,851 sqft
  • Baths : 3 full
Listing Agent

Sjk Properties

Listing Agent's Description

BEAUTIFUL THREE BEDROOM, TWO BATHROOM MAIN HOUSE & ATTACHED SEPERATE GUEST HOUSE W/KITCHEN & BATHROOM. MAIN HOUSE FEATURES GOURMET KITCHEN W/CUSTOM CABINETRY, GRANITE, ISLAND, STAINLESS STEEL HOOD & APPLIANCES OVERLOOKING HUGE GREAT ROOM THAT'S LIGHT & BRIGHT. THE MASTER & TWO ADDITIONAL BEDROOMS ARE COZY & PAINTED IN WARM COLORS & THE BATHROOMS HAVE HIP NEW WALK-IN SHOWERS AND GRANITE TOPPED VANITIES W/HI TECH LIGHTING. THE HEATED POOL WAS BUILT THIS YEAR & IS AMAZING FEATURING PEBBLE SHEEN, SUN BATHING DECK, WATER FALL & GAS FIRE FOUNTAINS. THERE'S EVEN A 450 SF QUONSET HUT OUT BACK THAT'S PLUMBED & POWERED THAT CAN BE TURNED INTO WHATEVER YOU WANT. NEW AC W/MINI SPLIT SYSTEM TO GUEST, TANKLESS WATER HEATER, ELECTRICAL PANEL, PERMITTED ADDITION, PAVERS, FLAGSTONE, ASTRO TURF & MORE.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Highland Homes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k291k

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

Neighborhood: Highland Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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 Camelview Elementary School Primary Regular 689 33 4
Madison Park Middle School Middle Regular 423 22 4
North High School High Regular 2,616 128 5

Madison Camelview Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 33
4
GreatSchools Rating

Madison Park Middle School

  • Education Level: Middle
  • # of students: 423
  • # of teachers: 22
4
GreatSchools Rating

North High School

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

$450,000$550,000$500,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,737
Property Tax -$377
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
-$656

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.

$500,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.8%
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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$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$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$138

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,819

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,7803$1,8254$2,0955$2,400
$2,400
RENT COMPS ANALYSIS
  • 1046 E Highland Avenue Phoenix, AZ 1
    • 4 beds 3 baths ∙ 1,851 Sqft ∙ Built 1955 4 beds 3 baths ∙ 1,851 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.88
    •  
  • 1815 E Minnezona Avenue Phoenix, AZ 2
    • 4 beds 3 baths ∙ 1,962 Sqft ∙ Built 1955 4 beds 3 baths ∙ 1,962 Sqft ∙ Built 1955
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.91
    •  
  • 1044 E Oregon Avenue Phoenix, AZ 3
    • 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1952 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1952
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.90
    •  
  • 1017 E Bethany Home Road Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1950 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1950
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.01
    •  
  • 10 W Oregon Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,164 Sqft ∙ Built 1951 3 beds 2 baths ∙ 2,164 Sqft ∙ Built 1951
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.11
    •  
PROPERTY LISTING DETAILS
Dominique Harguindeguy
Sjk Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6153810
Last Updated: 01/05/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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