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1064 E Indianola Avenue Phoenix, AZ 85014

3 Beds 3 Baths 1,752 sqft Built 1945

$430,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1945
  • Price/Sqft : $245.43
  • 2 Days on Market
  • MLS # : 6173491
  • Updated Date : 01/03/2021 at 02:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,752 sqft
  • Baths : 3 full
Listing Agent

Re/max Signature

Listing Agent's Description

Charming 2 Bedroom/2 Bathroom with detached Casita on a Corner Lot located in the Idylwilde Historic District. Separate 1 Bedroom/1 Bathroom Casita comes complete with kitchen, living room and its own parking with private entrance. The Casita has been active on AirBnB, bringing in an average of $20K annually. Unique irrigated corner lot with large grassy area. The back courtyard provides lots of privacy and is perfect for entertaining guests. This home exudes charm and will delight any historic home aficionado.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Idlewilde

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $75k271k

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

Neighborhood: West Idlewilde

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7611567

* 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
Longview Elementary School Primary Alternative 627 33 2
Osborn Middle School Middle Alternative 565 30 5
North High School High Regular 2,616 128 5

Longview Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 33
2
GreatSchools Rating

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
 

$387,000$473,000$430,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,587
Property Tax -$227
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
$67

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.

$430,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.47%

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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$38,900

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $2,151

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,999
1$1,9992$2,0003$2,0404$2,1505$2,250
$2,250
RENT COMPS ANALYSIS
  • 1064 E Indianola Avenue Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 1945 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 1945
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $1.16
    •  
  • 1353 E Whitton Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1950
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.23
    •  
  • 1115 E Whitton Avenue #1 Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1928
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.26
    •  
  • 1636 E Whitton Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1950
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.23
    •  
  • 1355 E Weldon Avenue Phoenix, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Audra J Soto
Re/max Signature
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6173491
Last Updated: 01/03/2021
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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