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11646 N 38th Place Phoenix, AZ 85028

3 Beds 2 Baths 1,884 sqft Built 1971

$459,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $244.11
  • 3 Days on Market
  • MLS # : 6165040
  • Updated Date : 11/27/2020 at 01:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,884 sqft
  • Baths : 2 full
Listing Agent

Century 21 Northwest

Listing Agent's Description

STOP, LOOK and OFFER!!! No HOA... This beautiful home features Plantation Shutters, Wood Flooring in the Kitchen, Dining Room & Master Bedroom, Large Family Room has 12ft Vaulted Ceilings & Dark Wood Beams, and a fireplace which is great to cuddle up to on those chilly winter nights! Enjoy the outdoor space with a dip in the beautiful 9ft diving pool which has been recently resurfaced. Extended pitched covered patio, RV gate and extended gravel area and an enclosed workshop or storage room in the side yard! 2014 Trane A/C unit with programmable Thermostat. Located in a very desirable neighborhood near SR-51 and Shea Blvd. Short drive to Paradise Valley, Central Phoenix, North Phoenix, and Scottsdale areas for Fine Dining, Shopping and Entertainment.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cavalier Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k359k

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

Neighborhood: Cavalier Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Mercury Mine Elementary School Primary Regular 546 27 8
Mercury Mine Elementary School Middle Regular 546 27 8
Shadow Mountain High School High Regular 1,390 67 3

Mercury Mine Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Mercury Mine Elementary School

  • Education Level: Middle
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$413,910$505,890$459,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,697
Property Tax -$290
Property Insurance -$64
Property Management Fees -$99
CASH FLOW
-$299

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.

$459,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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-$5.0k$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$127,624

INVESTMENT

$127,624

Down Payment
$114,975
Rehab Estimate
$5,750
Closing Costs
$6,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,975
Loan Amount $344,925
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$9,212

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,846

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,9004$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 11646 N 38th Place Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
  • 3743 E Yucca Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1971
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 3627 E Sunnyside Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 1965
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.99
    •  
  • 3811 E Lupine Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 1969 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 1969
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.94
    •  
  • 3702 E Shaw Butte Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1962
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.08
    •  
PROPERTY LISTING DETAILS
Angela Horga
Century 21 Northwest
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165040
Last Updated: 11/27/2020
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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