Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

10640 N 15th Lane Phoenix, AZ 85029

3 Beds 1 Baths 1,522 sqft Built 1956

$235,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $154.40
  • 4 Days on Market
  • MLS # : 6189544
  • Updated Date : 02/04/2021 at 04:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,522 sqft
  • Baths : 1 full
Listing Agent

Equity Realty Group, Llc

Listing Agent's Description

Amazing opportunity to make this home your own. 3 Bedroom plus bonus room. Private street. Wood burning fireplace. Tile flooring throughout.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $88k271k

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

Neighborhood: North Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8821567

* 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
Sunnyslope High School High Regular 2,064 88 6

Sunnyslope High School

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

$211,500$258,500$235,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$816
Property Tax -$140
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
$128

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.

$235,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.4%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$26,388

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,374

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,199
1$1,1992$1,2403$1,3504$1,4855$1,600
$1,600
RENT COMPS ANALYSIS
  • 10640 N 15th Lane Phoenix, AZ 2
    • 3 beds 1 baths ∙ 1,522 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,522 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.81
    •  
  • 9445 N 9th Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1946
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $0.94
    •  
  • 1621 W Surrey Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1971
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 2328 W Altadena Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1969
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $0.85
    •  
  • 2332 W Diana Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1959
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
PROPERTY LISTING DETAILS
Claudia A Ruiz Saenz
Equity Realty Group, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189544
Last Updated: 02/04/2021
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.

BESbswy