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1122 E Oak Street Phoenix, AZ 85006

3 Beds 2 Baths 1,392 sqft Built 1945

$440,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1945
  • Price/Sqft : $316.09
  • 3 Days on Market
  • MLS # : 6167789
  • Updated Date : 12/04/2020 at 17:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,392 sqft
  • Baths : 2 full
Listing Agent

North & Co

Listing Agent's Description

MUST SEE charming, fully renovated 3 bedroom 2 bath ranch-style home in the coveted Coronado historic district. This gem features new flooring throughout, remodeled bathrooms, a new roof, new A/C, new water heater, and owned solar panels that convey for low cost energy efficiency. Your inner chef will be inspired by the fully remodeled kitchen! Equipped with stainless appliances, a high-end gas stove, stainless range hood, double ovens, pantry, new cabinets and wine rack. Off the kitchen you can relax in your spacious living room with wood burning fireplace. Or entertain in a backyard that features patio seating, another wood burning fireplace, and synthetic turf for low maintenance and visual appeal. Don't miss your chance to own a piece of Phoenix history.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Coronado

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $83k311k

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

Neighborhood: Coronado

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8061567

* 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
Emerson School Primary Regular 430 29 3
Emerson School Middle Regular 430 29 3
North High School High Regular 2,616 128 5

Emerson School

  • Education Level: Primary
  • # of students: 430
  • # of teachers: 29
3
GreatSchools Rating

Emerson School

  • Education Level: Middle
  • # of students: 430
  • # of teachers: 29
3
GreatSchools Rating

North High School

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

$396,000$484,000$440,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,623
Property Tax -$235
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$472

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.

$440,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 14.1%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,225

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,608

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3953$1,4504$1,5405$1,550
$1,550
RENT COMPS ANALYSIS
  • 1122 E Oak Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1945
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.11
    •  
  • 1422 E Hubbell Street Phoenix, AZ 1
    • 3 beds 1 baths ∙ 1,276 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,276 Sqft ∙ Built 1946
    LEASED 08/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.04
    •  
  • 917 E Granada Road #3 Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,149 Sqft ∙ Built 1927 3 beds 2 baths ∙ 1,149 Sqft ∙ Built 1927
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.21
    •  
  • 1641 N 11th Street Phoenix, AZ 3
    • 3 beds 1 baths ∙ 1,228 Sqft ∙ Built 1930 3 beds 1 baths ∙ 1,228 Sqft ∙ Built 1930
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.18
    •  
  • 1313 E Brill Street Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1926
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.19
    •  
PROPERTY LISTING DETAILS
Edward Durham
North & Co
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167789
Last Updated: 12/04/2020
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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