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10614 S 40th Place Phoenix, AZ 85044

3 Beds 2 Baths 1,062 sqft Built 1985

$329,900

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $310.64
  • 2 Days on Market
  • MLS # : 6157702
  • Updated Date : 11/07/2020 at 12:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,062 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Outstanding location! This Ahwatukee gem with panoramic mountain views has its own backyard gate direct to South Mountain Park's miles of hiking and mountain bike trails. Stylish home includes updates to the cabinets, bathrooms (including a sliding barn door), and tile roof. Great room with vaulted ceiling and skylights includes a wood-burning fireplace with granite hearth and mantel. The special preserve-backing street, in the Kyrene School District, has NO HOA. 2012 remodel includes both bathrooms, with a ROLL-IN SHOWER in master, attic insulation (R-30), interior doors and hardware, tile roof, and epoxy garage floor.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Foothills Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Desert Foothills Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Kyrene De Las Lomas School Primary Regular 729 40 6
Kyrene Centennial Middle School Middle Regular 1,054 57 7
Mountain Pointe High School High Regular 2,685 111 3

Kyrene De Las Lomas School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 40
6
GreatSchools Rating

Kyrene Centennial Middle School

  • Education Level: Middle
  • # of students: 1,054
  • # of teachers: 57
7
GreatSchools Rating

Mountain Pointe High School

  • Education Level: High
  • # of students: 2,685
  • # of teachers: 111
3
GreatSchools Rating
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$1,217
Property Tax -$235
Property Insurance -$48
Property Management Fees -$99
CASH FLOW
-$399

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.

$329,900

PROJECTED PRICE

$1,200

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$585

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,144

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,2003$1,3754$1,4955$1,495
$1,495
RENT COMPS ANALYSIS
  • 10614 S 40th Place Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.13
    •  
  • 10834 S Tewa Street Ahwatukee, AZ 1
    • 4 beds 2 baths ∙ 1,272 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,272 Sqft ∙ Built 1978
    LEASED 10/01/30
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.86
    •  
  • 4844 E Mcneil Street ##1 Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1986
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.12
    •  
  • 4502 E San Gabriel Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1976
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.15
    •  
  • 4234 E Tamaya Street Ahwatukee, AZ 5
    • 4 beds 2 baths ∙ 1,272 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,272 Sqft ∙ Built 1977
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.18
    •  
PROPERTY LISTING DETAILS
Lisa Craze
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157702
Last Updated: 11/07/2020
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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