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

1101 E Topeka Drive Phoenix, AZ 85024

4 Beds 2 Baths 2,450 sqft Built 1985

$465,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $189.80
  • 3 Days on Market
  • MLS # : 6187423
  • Updated Date : 01/29/2021 at 22:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,450 sqft
  • Baths : 2 full
Listing Agent

Success Property Brokers

Listing Agent's Description

STOP THE CAR!! This home has it all....4br/2ba + Media/Den + Office/Craft Room. Murphy-bed and builtin book shelves stay. PLUS-Corian kitchen counters....Refrigerator, washer/dryer included. Gorgeous southern exposure back yard complete with expanded patio, diving pool, spa and commercial quality shade sail. Don't forget the ''over the top'' 7.6KW solar system that includes a 19.4Kwh storage battery that was part of a special APS Solar Innovation Study-75 which included an updated 16seer HVAC unit. Roof replaced in 2011.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Bell Estates North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $83k315k

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

Neighborhood: Desert Bell Estates North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8621857

* 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
Mountain Trail Middle School Middle Regular 714 29 7
North Canyon High School High Regular 1,957 86 4

Mountain Trail Middle School

  • Education Level: Middle
  • # of students: 714
  • # of teachers: 29
7
GreatSchools Rating

North Canyon High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 86
4
GreatSchools Rating
 

$418,500$511,500$465,000

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 -$1,615
Property Tax -$293
Property Insurance -$75
Property Management Fees -$99
CASH FLOW
-$42

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.

$465,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.2%
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

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$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$24,054

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,076

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7953$1,9504$1,9505$2,200
$2,200
RENT COMPS ANALYSIS
  • 1101 E Topeka Drive Phoenix, AZ 1
    • 4 beds 2 baths ∙ 2,450 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,450 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 711 E Irma Lane Phoenix, AZ 2
    • 5 beds 2 baths ∙ 2,319 Sqft ∙ Built 2000 5 beds 2 baths ∙ 2,319 Sqft ∙ Built 2000
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
  • 1831 E Siesta Lane Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,258 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,258 Sqft ∙ Built 2002
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
  • 1205 E Michigan Avenue Phoenix, AZ 4
    • 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 1988
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 728 E Rose Marie Lane Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,367 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,367 Sqft ∙ Built 2000
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.93
    •  
PROPERTY LISTING DETAILS
Steven Moore
Success Property Brokers
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187423
Last Updated: 01/29/2021
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