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

1130 E Butler Drive #C8 Phoenix, AZ 85020

2 Beds 2 Baths 956 sqft Built 1972

$185,000

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $193.51
  • 6 Days on Market
  • MLS # : 6197808
  • Updated Date : 02/23/2021 at 01:41
CONSTRUCTION
  • Beds : 2
  • Floor Size : 956 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

An intimate community of only 36 homes located in North Central Phoenix. A crisp sparkling pool tucked into the hillside gives you that much desired privacy with convenience to your home. Next to everything for next to nothing!! Ready for the master touch, this condo conversion has 2bed/2bath set up with room for an efficiently designed kitchen with ample storage & counter space. Green, grassy area with ''Pooper Station'' for your fur baby located on site. Tenant vacates 07/31/2021.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Hillside Terrace Condominiums

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260kPrice in $51k271k

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

Neighborhood: Hillside Terrace Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7801567

* 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
Desert View Elementary School Primary Regular 454 29 3
Sunnyslope High School High Regular 2,064 88 6

Desert View Elementary School

  • Education Level: Primary
  • # of students: 454
  • # of teachers: 29
3
GreatSchools Rating

Sunnyslope High School

  • Education Level: High
  • # of students: 2,064
  • # of teachers: 88
6
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$643
Property Tax -$110
Property Insurance -$46
HOA -$272
Property Management Fees -$99
CASH FLOW
-$70

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.

$185,000

PROJECTED PRICE

$1,100

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.1%
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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$643

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$3,689

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
  • $1,099

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$9993$1,0954$1,1005$1,245
$1,245
RENT COMPS ANALYSIS
  • 1130 E Butler Drive #c8 Phoenix, AZ 1
    • 2 beds 2 baths ∙ 956 Sqft ∙ Built 1972 2 beds 2 baths ∙ 956 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1130 E Butler Drive #c-3 Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,000 Sqft ∙ Built 1972 2 beds 2 baths ∙ 1,000 Sqft ∙ Built 1972
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $999
    • $1.00
    •  
  • 8827 N 12th Place Phoenix, AZ 3
    • 2 beds 2 baths ∙ 924 Sqft ∙ Built 1973 2 beds 2 baths ∙ 924 Sqft ∙ Built 1973
    property image
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $1.19
    •  
  • 1216 E Townley Avenue Phoenix, AZ 4
    • 2 beds 2 baths ∙ 924 Sqft ∙ Built 1973 2 beds 2 baths ∙ 924 Sqft ∙ Built 1973
    property image
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.19
    •  
  • 8805 N 12th Place Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,023 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,023 Sqft ∙ Built 1973
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $1.22
    •  
PROPERTY LISTING DETAILS
Geoffrey Adams
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6197808
Last Updated: 02/23/2021
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