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

1110 E Belmont Avenue Phoenix, AZ 85020

2 Beds 2 Baths 1,048 sqft Built 1974

$239,999

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $229.01
  • 2 Days on Market
  • MLS # : 6155675
  • Updated Date : 12/05/2020 at 14:52
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,048 sqft
  • Baths : 1 full , 1 half
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Located in a terrific central Phoenix community, this lovely home features 2 bedrooms, rich wood flooring in all the right places, and a convenient indoor laundry area. The kitchen is beautifully updated with modern touches including white cabinetry and sleek stainless steel appliances including a gas range; the living room offers a wood burning fireplace that's perfect during the cooler months. PLUS there's an outdoor patio that provides plenty of privacy and makes a great space for outdoor dining. The community offers walking paths, picnic areas, covered parking and a sparking pool! Don't wait to see this charmer, it won't last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Torre Blanca

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $67k271k

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

Neighborhood: Torre Blanca

ZipNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
Madison Heights Elementary School Primary Regular 538 30 8
Madison 1 Middle School Middle Regular 923 50 7
North High School High Regular 2,616 128 5

Madison Heights Elementary School

  • Education Level: Primary
  • # of students: 538
  • # of teachers: 30
8
GreatSchools Rating

Madison 1 Middle School

  • Education Level: Middle
  • # of students: 923
  • # of teachers: 50
7
GreatSchools Rating

North High School

  • Education Level: High
  • # of students: 2,616
  • # of teachers: 128
5
GreatSchools Rating
 

$215,999$263,999$239,999

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$885
Property Tax -$172
Property Insurance -$48
HOA -$314
Property Management Fees -$99
CASH FLOW
-$149

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.

$239,999

PROJECTED PRICE

$1,370

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 12.6%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $179,999
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$3,651

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
  • $1,383

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1953$1,3004$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 1110 E Belmont Avenue Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,048 Sqft ∙ Built 1974 2 beds 2 baths ∙ 1,048 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 750 E Northern Avenue #1056 Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,022 Sqft ∙ Built 1992 2 beds 2 baths ∙ 1,022 Sqft ∙ Built 1992
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.17
    •  
  • 1333 E Morten Avenue #234 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 961 Sqft ∙ Built 1985 2 beds 2 baths ∙ 961 Sqft ∙ Built 1985
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.35
    •  
  • 1333 E Morten Avenue #228 Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,068 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,068 Sqft ∙ Built 1984
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.36
    •  
  • 1333 E Morten Avenue #218 Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,068 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,068 Sqft ∙ Built 1984
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.40
    •  
PROPERTY LISTING DETAILS
George Laughton
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155675
Last Updated: 12/05/2020
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.

BESbswy