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10838 N 37th Place Phoenix, AZ 85028

4 Beds 2 Baths 2,100 sqft Built 1972

$550,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $261.90
  • 2 Days on Market
  • MLS # : 6160606
  • Updated Date : 11/14/2020 at 09:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,100 sqft
  • Baths : 2 full
Listing Agent

Joi Realty

Listing Agent's Description

Welcome home to this remodeled gorgeous home in a cul-de-sac oversized corner lot with a NEW AC! Why commute when you can move into this beautiful upgraded 4 bedroom, 2 bathroom home with new kitchen appliances, quartz counter tops, island & beautiful white cabinets. Newly updated baths, new ceramic tile and NO CARPET . The kitchen features a large eat in kitchen with a gorgeous custom subway backsplash. This home is has desert landscaping, large utility room/laundry room, RV parking and more. Just bring all your toys to this new home. This is the highly desirable Broadmoor Hills neighborhood, minutes from 51 fwy, downtown Phx & Scotts, PV, Fashion Sq. Desert Ridge, Kierland, hiking trails and so much more! Investors make this your next rental investment to add to your portfolio.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Broadmoor Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k363k

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

Neighborhood: Broadmoor Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9342028

* 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
Mercury Mine Elementary School Primary Regular 546 27 8
Mercury Mine Elementary School Middle Regular 546 27 8
Shadow Mountain High School High Regular 1,390 67 3

Mercury Mine Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Mercury Mine Elementary School

  • Education Level: Middle
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$2,029
Property Tax -$346
Property Insurance -$68
Property Management Fees -$99
CASH FLOW
-$173

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.

$550,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.3%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$25,518

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,373

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,1953$2,2004$2,3705$2,800
$2,800
RENT COMPS ANALYSIS
  • 10838 N 37th Place Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.13
    •  
  • 10809 N 33rd Place Phoenix, AZ 1
    • 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1973
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.10
    •  
  • 3555 E North Lane Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,175 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,175 Sqft ∙ Built 1971
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.01
    •  
  • 10602 N 35th Street Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 1973
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.13
    •  
  • 3509 E Cannon Drive Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1970
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.28
    •  
PROPERTY LISTING DETAILS
Jenna M. Jacques
Joi Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160606
Last Updated: 11/14/2020
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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