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1224 E Angela Drive Phoenix, AZ 85022

3 Beds 3 Baths 1,593 sqft Built 1994

$330,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $207.16
  • 1 Days on Market
  • MLS # : 6207119
  • Updated Date : 03/14/2021 at 00:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,593 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Executives

Listing Agent's Description

Two Story, three bedroom, 2.5 bath home in the desirable Candle Creek Community almost directly across the street from the Turtle Rock Basin Park. This excellent community is located near the loop 101 and the 51, close to lots of dining, shopping and within the coveted Paradise Valley School District. A formal living/dining area with dramatic vaulted ceilings. Beyond the separate family room opens to the kitchen complete with plenty of cabinet and counter space, a pantry and a breakfast bar. Fantastic solar panels keep the average APS bill around $87 which was higher than usual as Seller's worked from home due to Covid. Buyer needs to assume the lease with payment starting April of $130 per month. A/C unit is 2 years new. Please wear masks while showing home. Contract reviewed 3/17 eve

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Candle Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k286k

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

Neighborhood: Candle Creek

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
Echo Mountain Primary School Primary Regular 609 37 4
Vista Verde Middle School Middle Regular 637 31 4
North Canyon High School High Regular 1,957 86 4

Echo Mountain Primary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 37
4
GreatSchools Rating

Vista Verde Middle School

  • Education Level: Middle
  • # of students: 637
  • # of teachers: 31
4
GreatSchools Rating

North Canyon High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 86
4
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,146
Property Tax -$208
Property Insurance -$58
HOA -$10
Property Management Fees -$99
CASH FLOW
-$41

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.

$330,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 5.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$16,052

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,653

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,4953$1,6004$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 1224 E Angela Drive Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,593 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,593 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.93
    •  
  • 17017 N 12th Street #1084 Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1996
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.05
    •  
  • 16825 N 14th Street #100 Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,589 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,589 Sqft ∙ Built 2007
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 17625 N 14th Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1994
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 17839 N 15th Street Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 1997
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.06
    •  
PROPERTY LISTING DETAILS
David R Lewis
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6207119
Last Updated: 03/14/2021
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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