Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1221 E Elm Street Phoenix, AZ 85014

2 Beds 2 Baths 1,709 sqft Built 1973

$375,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $219.43
  • 2 Days on Market
  • MLS # : 6165023
  • Updated Date : 11/28/2020 at 17:35
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,709 sqft
  • Baths : 2 full
Listing Agent

3rd Base Realty Group Llc

Listing Agent's Description

Location, location, location. This spacious 3 bed 2 bath home has been refreshed and updated & is move in ready. Brand new paint inside & out. Terrific floor plan, with large family room, dining room/den, & eat-in kitchen. Kitchen has brand new granite, hardware, and cabinets have a fresh finish. Tile throughout. 3 large bedrooms. 2 renovated bathrooms that have been updated with new tile shower surrounds, and granite countertops. Primary bedroom is oversized, and has an amazing walk-in closet. Laundry room is large and is perfect for additional storage. Lot is HUGE, and ready for your finishing touches! The location is incredible. Close to Camelback, the 51, & Central Corridor, this home is close to all the action! Madison Schools!!! Don't miss this home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Camelback East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $91k307k

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

Neighborhood: Camelback East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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 Camelview Elementary School Primary Regular 689 33 4
Madison Park Middle School Middle Regular 423 22 4
North High School High Regular 2,616 128 5

Madison Camelview Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 33
4
GreatSchools Rating

Madison Park Middle School

  • Education Level: Middle
  • # of students: 423
  • # of teachers: 22
4
GreatSchools Rating

North High School

  • Education Level: High
  • # of students: 2,616
  • # of teachers: 128
5
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,384
Property Tax -$270
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
-$303

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.

$375,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.7%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$5,404

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,666

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,4004$1,6005$1,950
$1,950
RENT COMPS ANALYSIS
  • 1221 E Elm Street Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,709 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,709 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1030 E Bethany Home Road #2 Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,378 Sqft ∙ Built 1962 2 beds 2 baths ∙ 1,378 Sqft ∙ Built 1962
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.98
    •  
  • 4615 N 22nd Street #113 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,500 Sqft ∙ Built 1965 2 beds 2 baths ∙ 1,500 Sqft ∙ Built 1965
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 4411 N Longview Avenue #d Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,583 Sqft ∙ Built 1970 2 beds 2 baths ∙ 1,583 Sqft ∙ Built 1970
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 5364 N 20th Street Phoenix, AZ 5
    • 2 beds 2 baths ∙ 2,000 Sqft ∙ Built 1966 2 beds 2 baths ∙ 2,000 Sqft ∙ Built 1966
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
PROPERTY LISTING DETAILS
Faith Vance
3rd Base Realty Group Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165023
Last Updated: 11/28/2020
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.

BESbswy