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1108 N 37th Avenue Phoenix, AZ 85009

3 Beds 2 Baths 1,339 sqft Built 1970

$230,000

List Price

$1,030

$927 - $1.1K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1970
  • Price/Sqft : $171.77
  • 5 Days on Market
  • MLS # : 6154027
  • Updated Date : 10/30/2020 at 13:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,339 sqft
  • Baths : 2 full
Listing Agent

Re/max Foothills

Listing Agent's Description

Come take a look. Remodeled. Signature carport. 3 bedrooms 2 bathroom. ceramic tile living area. NO HOA. Close freeway access.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Estrella

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $82k271k

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

Neighborhood: Estrella

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8031567

* 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
Alta E. Butler Elementary School Primary Regular 775 40 2
Carl Hayden High School High Regular 2,080 116 3
Phoenix Coding Academy High Regular NA

Alta E. Butler Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 40
2
GreatSchools Rating

Carl Hayden High School

  • Education Level: High
  • # of students: 2,080
  • # of teachers: 116
3
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$927$1,133$1,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,030
EXPENSES Loan Payment -$849
Property Tax -$124
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
-$95

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.

$230,000

PROJECTED PRICE

$1,030

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$8,960

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,030

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,162

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$999
1$9992$1,0303$1,2454$1,3455$1,350
$1,350
RENT COMPS ANALYSIS
  • 1108 N 37th Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,030
    • $0.77
    •  
  • 3101 N 37th Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1958
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $999
    • $0.93
    •  
  • 3337 W Edgemont Avenue Phoenix, AZ 3
    • 4 beds 3 baths ∙ 1,426 Sqft ∙ Built 1954 4 beds 3 baths ∙ 1,426 Sqft ∙ Built 1954
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.87
    •  
  • 3733 W Cypress Street Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1954
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.86
    •  
  • 2028 N 38th Avenue Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1954
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.82
    •  
PROPERTY LISTING DETAILS
Berenice Hernandez
Re/max Foothills
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154027
Last Updated: 10/30/2020
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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