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12221 N 38th Place Phoenix, AZ 85032

4 Beds 2 Baths 1,707 sqft Built 1977

$399,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $233.74
  • 2 Days on Market
  • MLS # : 6168472
  • Updated Date : 12/12/2020 at 09:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,707 sqft
  • Baths : 2 full
Listing Agent

Sound Realty

Listing Agent's Description

This beautifully remodeled 4 bed/2 bath ranch style home that's available in the desirable 85032 zip code won't last long. Excellent north-central location, nestled just off the 51 and just blocks from Paradise Valley Mall. Must see interior is sure to impress with a spacious open concept floor plan and tasteful finishes throughout. Stylish concrete epoxy flooring flows through all common areas with NEW luxury vinyl in the bedrooms. Master bedroom retreat includes an upgraded 3/4 ensuite. Elegant new french doors lead to the screened-in patio that overlooks a huge backyard oasis. It offers lots of patio seating room, a grassy play area, a 96 sq ft workshop/shed, and an enchanting 350 gal in-ground natural bog plant filter goldfish pond. This gem is a rare combination of style and location

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Pleasant Valley Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Pleasant Valley Estates

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
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
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,472
Property Tax -$251
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
$107

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.

$399,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$41,450

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,950

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8503$1,9504$1,9905$2,000
$2,000
RENT COMPS ANALYSIS
  • 12221 N 38th Place Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,707 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,707 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.17
    •  
  • 12215 N 36th Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1972
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.16
    •  
  • 12728 N 40th Place Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1979
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.11
    •  
  • 3638 E Marmora Street Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,596 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,596 Sqft ∙ Built 1979
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.22
    •  
  • 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
Dustin Sumner
Sound Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6168472
Last Updated: 12/12/2020
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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