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123 E Ridgecrest Road Phoenix, AZ 85086

3 Beds 3 Baths 3,074 sqft Built 1995

$699,850

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $227.67
  • 59 Days on Market
  • MLS # : 6159965
  • Updated Date : 11/17/2020 at 11:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,074 sqft
  • Baths : 3 full
Listing Agent

Ironwood Fine Properties

Listing Agent's Description

Unique opportunity to create your own desert oasis! At nearly 2.5 acres and no HOA, this property can be converted to accommodate all your hobbies. The custom home on this property was built with 2x6 construction and extra insulation - original owner is the seller. The split master boasts a sitting room, and multiple bay windows throughout the home provide beautiful mountain views. Back courtyard is fenced in and offers a firepit and built-in BBQ. Come put your touch on this gorgeous piece of land.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: New River

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k371k

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

Neighborhood: New River

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9342423

* 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 Mountain School Primary Regular 695 42 7
Desert Mountain School Middle Regular 695 42 7
Boulder Creek High School High Regular 2,639 105 6

Desert Mountain School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
7
GreatSchools Rating

Desert Mountain School

  • Education Level: Middle
  • # of students: 695
  • # of teachers: 42
7
GreatSchools Rating

Boulder Creek High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 105
6
GreatSchools Rating
 

$629,865$769,835$699,850

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$2,431
Property Tax -$545
Property Insurance -$86
Property Management Fees -$99
CASH FLOW
-$881

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.

$699,850

PROJECTED PRICE

$2,280

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,210

INVESTMENT

$191,210

Down Payment
$174,963
Rehab Estimate
$5,750
Closing Costs
$10,498

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,963
Loan Amount $524,888
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$225

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,307

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,0003$2,2804$2,5005$2,950
$2,950
RENT COMPS ANALYSIS
  • 123 E Ridgecrest Road Phoenix, AZ 3
    • 3 beds 3 baths ∙ 3,026 Sqft ∙ Built 1995 3 beds 3 baths ∙ 3,026 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.75
    •  
  • 40511 N Hawk Ridge Trail Phoenix, AZ 1
    • 3 beds 4 baths ∙ 2,978 Sqft ∙ Built 2004 3 beds 4 baths ∙ 2,978 Sqft ∙ Built 2004
    property image
    LEASED 09/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.60
    •  
  • 40818 N Lytham Court Anthem, AZ 2
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2004
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.72
    •  
  • 40721 N Long Landing Court Anthem, AZ 4
    • 3 beds 4 baths ∙ 2,978 Sqft ∙ Built 2004 3 beds 4 baths ∙ 2,978 Sqft ∙ Built 2004
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
  • 40924 N Lambert Trail Phoenix, AZ 5
    • 4 beds 4 baths ∙ 3,304 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,304 Sqft ∙ Built 2004
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.89
    •  
PROPERTY LISTING DETAILS
Kory Gilliland
Ironwood Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159965
Last Updated: 11/17/2020
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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