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1227 E Topeka Drive Phoenix, AZ 85024

2 Beds 2 Baths 1,032 sqft Built 1985

$350,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $339.15
  • 1 Days on Market
  • MLS # : 6263694
  • Updated Date : 07/13/2021 at 19:31
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,032 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

NEW FLOORS AND FRESH PAINT- Beautiful 2 bed/2 bath home with great upgrades available in highly sought after north Phoenix neighborhood. Excellent location, just minutes from the Loop 101, the 51, shopping, restaurants and within the desirable Paradise Valley School District. Must see interior is sure to impress. Spacious open concept living and dining areas feature soaring vaulted ceilings and NEW gorgeous wood look flooring. Custom two tone paint throughout. Stylish kitchen with crisp white cabinetry. Bedrooms are generously sized and the master includes a 3/4 ensuite with an oversize shower. Huge backyard offers plenty of room for pets, play, entertaining, or even a pool. A perfect spot to create the outdoor space of your dreams. This gem will sell fast.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Deer Valley

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Deer Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8411567

* 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 Trail Middle School Middle Regular 714 29 7
North Canyon High School High Regular 1,957 86 4

Mountain Trail Middle School

  • Education Level: Middle
  • # of students: 714
  • # of teachers: 29
7
GreatSchools Rating

North Canyon High School

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

$315,000$385,000$350,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$1,216
Property Tax -$220
Property Insurance -$47
Property Management Fees -$99
CASH FLOW
-$342

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.

$350,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,805

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,238

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,240
1$1,2402$1,3003$1,3504$1,3955$1,400
$1,400
RENT COMPS ANALYSIS
  • 1227 E Topeka Drive Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,032 Sqft ∙ Built 1985 2 beds 2 baths ∙ 1,032 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $1.20
    •  
  • 1037 E Villa Maria Drive Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,097 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,097 Sqft ∙ Built 1984
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.19
    •  
  • 1414 E Grovers Avenue #3 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,091 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,091 Sqft ∙ Built 1997
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.24
    •  
  • 1038 E Michigan Avenue Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,146 Sqft ∙ Built 1985 2 beds 2 baths ∙ 1,146 Sqft ∙ Built 1985
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.22
    •  
  • 1015 E Charleston Avenue Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,214 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,214 Sqft ∙ Built 1983
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.15
    •  
PROPERTY LISTING DETAILS
Tim Esteban
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6263694
Last Updated: 07/13/2021
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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