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122 W Kings Avenue Phoenix, AZ 85023

3 Beds 2 Baths 1,632 sqft Built 1995

$364,999

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $223.65
  • 4 Days on Market
  • MLS # : 6198869
  • Updated Date : 02/25/2021 at 20:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,632 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

WELCOME to this bright and well cared for home in the incredible location of North Phoenix. Just minutes from dining, shopping, freeways, schools, & parks. This highly desired floor plan offers a formal living/dining area as well as a spacious open concept family room enhanced with a charming fireplace. Features continue w/soaring vaulted ceilings, warm custom paint tones, & stylish diagonal tile along w/wood look flooring. The beautiful granite kitchen is complete w/ss appliances & an island w/ breakfast bar seating. Bedrooms are generously sized & the master includes a walk-in closet & a full ensuite w/dual sinks & a separate soaking tub & shower. Backyard features a covered patio, fruit trees, & room to entertain. Home has fiber-optic internet and a 240V outlet in garage for a elec-car

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Moonlight Cove East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $83k305k

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

Neighborhood: Moonlight Cove East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Mountain Sky Junior High School Middle Regular 741 35 7
Thunderbird High School High Regular 1,507 63 6

Mountain Sky Junior High School

  • Education Level: Middle
  • # of students: 741
  • # of teachers: 35
7
GreatSchools Rating

Thunderbird High School

  • Education Level: High
  • # of students: 1,507
  • # of teachers: 63
6
GreatSchools Rating
 

$328,499$401,499$364,999

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 -$1,268
Property Tax -$218
Property Insurance -$59
HOA -$17
Property Management Fees -$99
CASH FLOW
$190

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.

$364,999

PROJECTED PRICE

$1,850

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.9%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,749
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$39,754

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
  • $1.13

    LIST RENT PER SQFT
  • $1,844

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,9004$1,9005$1,900
$1,900
RENT COMPS ANALYSIS
  • 122 W Kings Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.13
    •  
  • 215 W Helena Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1995
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.10
    •  
  • 131 W Fellars Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1995
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.10
    •  
  • 16408 N 1st Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1995
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.15
    •  
  • 405 W Sandra Terrace Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1985
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.17
    •  
PROPERTY LISTING DETAILS
Kevin J Stark
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6198869
Last Updated: 02/25/2021
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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