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12041 N 29th Street Phoenix, AZ 85028

4 Beds 2 Baths 1,856 sqft Built 1971

$449,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $242.40
  • 6 Days on Market
  • MLS # : 6153668
  • Updated Date : 10/31/2020 at 12:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,856 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Fabulous home with high end finishes. Kitchen has new ss appliances, GE Cafe double oven with cooktop and dishwasher. Stainless Steel Refrigerator is also included. Granite countertops with full height stone backsplash and travertine flooring. Bathrooms have custom stone vanities and shower surrounds including Travertine on the floors. Home was recently painted both inside and out and a new roof installed. Brand new gas hot water heater in garage. Large yard with huge heated salt water pebble tec pool with seating area. Security system with 2 exterior cameras and a Ring doorbell. Great location with good proximity to restaurants, shopping and freeway.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Ironwood East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k357k

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

Neighborhood: Ironwood East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9341872

* 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 Cove Elementary School Primary Regular 523 37 6
Desert Cove Elementary School Middle Regular 523 37 6
Shadow Mountain High School High Regular 1,390 67 3

Desert Cove Elementary School

  • Education Level: Primary
  • # of students: 523
  • # of teachers: 37
6
GreatSchools Rating

Desert Cove Elementary School

  • Education Level: Middle
  • # of students: 523
  • # of teachers: 37
6
GreatSchools Rating

Shadow Mountain High School

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

$404,910$494,890$449,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,660
Property Tax -$283
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
-$386

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.

$449,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.3%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,449

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,708

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6753$1,7204$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 12041 N 29th Street Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.93
    •  
  • 2709 E Sylvia Street Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 1971
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.85
    •  
  • 2733 E Larkspur Drive Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 1970
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.92
    •  
  • 2706 E Sylvia Street Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 1970
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 3043 E Lupine Avenue Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1969
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
PROPERTY LISTING DETAILS
Laurie Stevenson
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6153668
Last Updated: 10/31/2020
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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