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1143 E Palo Verde Drive Phoenix, AZ 85014

3 Beds 2 Baths 1,568 sqft Built 1953

$410,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $261.48
  • 3 Days on Market
  • MLS # : 6170456
  • Updated Date : 12/11/2020 at 22:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,568 sqft
  • Baths : 1 full , 1 half
Listing Agent

Lra Real Estate Group, Llc

Listing Agent's Description

Great location for your next home. This is an older home in a rising area close to 7th Street corridor and Central Ave action. New dual pane windows; newer a/c heating unit, newer plumbing fixtures. Home needs some remodeling that is considered in the price.

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PRICE & RENT TRENDS

Neighborhood: McAdams Manor West

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k346k

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

Neighborhood: McAdams Manor West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9341684

* 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 1 Middle School Primary Regular 923 50 7
Madison 1 Middle School Middle Regular 923 50 7
North High School High Regular 2,616 128 5

Madison 1 Middle School

  • Education Level: Primary
  • # of students: 923
  • # of teachers: 50
7
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
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,513
Property Tax -$295
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$84

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.

$410,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.8%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$22,385

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,662

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6493$1,7954$1,8755$1,880
$1,880
RENT COMPS ANALYSIS
  • 1143 E Palo Verde Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.20
    •  
  • 6609 N 10th Place Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1953
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
  • 6040 N 15th Street #39 Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1963 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1963
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.95
    •  
  • 5634 N 6th Street #1 Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1949
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.17
    •  
  • 6814 N 14th Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1950
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.06
    •  
PROPERTY LISTING DETAILS
Bryan Watkins
Lra Real Estate Group, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170456
Last Updated: 12/11/2020
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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