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11639 N 40th Drive Phoenix, AZ 85029

3 Beds 2 Baths 1,532 sqft Built 1978

$300,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $195.82
  • 4 Days on Market
  • MLS # : 6182859
  • Updated Date : 01/24/2021 at 03:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,532 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Professional Partners

Listing Agent's Description

You won't want to miss this sturdy 3B2b block home in Phoenix. It's clear from the beautifully landscaped front and back yards and restful interior, this home has been lovingly maintained. Inside, upgraded windows provide filtered natural light. The living room is an obvious gathering place, centered by a cozy hearth. The spacious kitchen has wood cabinets, granite counters and matching black appliances. The master bedroom, just off the living room, is separate from the other bedrooms and has access to the lovely backyard through a sliding glass door. Matching ceiling fans and wood-look flooring add elegance and continuity to the home. In the backyard, a covered porch overlooks a brilliant blue diving pool surrounded by a security fence and a grassy yard, shaded by a large ficus.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fairwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Fairwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8681567

* 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
Tumbleweed Elementary School Primary Regular 474 26 5
Tumbleweed Elementary School Middle Regular 474 26 5
Moon Valley High School High Regular 1,479 70 5

Tumbleweed Elementary School

  • Education Level: Primary
  • # of students: 474
  • # of teachers: 26
5
GreatSchools Rating

Tumbleweed Elementary School

  • Education Level: Middle
  • # of students: 474
  • # of teachers: 26
5
GreatSchools Rating

Moon Valley High School

  • Education Level: High
  • # of students: 1,479
  • # of teachers: 70
5
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,042
Property Tax -$179
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$57

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.

$300,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.6%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$13,779

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,409

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3453$1,3754$1,5005$1,645
$1,645
RENT COMPS ANALYSIS
  • 11639 N 40th Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.86
    •  
  • 4206 W Garden Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1972
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.82
    •  
  • 4122 W Laurel Lane Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,456 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,456 Sqft ∙ Built 1974
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.94
    •  
  • 4062 W Mercer Lane Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1978
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 4014 W Christy Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1978
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.96
    •  
PROPERTY LISTING DETAILS
Keslie Halonen
Keller Williams Realty Professional Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6182859
Last Updated: 01/24/2021
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.

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