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1302 E Myrtle Avenue Phoenix, AZ 85020

3 Beds 2 Baths 2,152 sqft Built 1972

$525,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $243.96
  • 5 Days on Market
  • MLS # : 6179117
  • Updated Date : 01/14/2021 at 23:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,152 sqft
  • Baths : 1 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Nestled in an established North Central neighborhood, this Stamen Thomas home has been lovingly cared for and upgraded by the owner of over 40 years! From the vaulted ceiling in the family room that opens to the kitchen, to the more formal living room with fireplace, gracious dining room and office/den/library to the three bedrooms, the floorplan provides for comfortable, yet elegant living. Barnwood, plank wood floors & Italian tile floors, wood shutters, Pella windows, built in shelving, security system, ceiling fans, multizones of AC and French doors add to the value. The pool was parked (covered with deck) years ago and the charming courtyard entry and backyard with covered patio provide for outdoor living. Estate Los Arboles has a community tennis court and a low HOA fee.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Estate los Arboles

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k396k

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

Neighborhood: Estate los Arboles

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342175

* 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 Simis Elementary School Primary Regular 951 43 9
Madison Meadows Middle School Middle Regular 845 40 8
North High School High Regular 2,616 128 5

Madison Simis Elementary School

  • Education Level: Primary
  • # of students: 951
  • # of teachers: 43
9
GreatSchools Rating

Madison Meadows Middle School

  • Education Level: Middle
  • # of students: 845
  • # of teachers: 40
8
GreatSchools Rating

North High School

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

$472,500$577,500$525,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,824
Property Tax -$414
Property Insurance -$69
HOA -$2
Property Management Fees -$99
CASH FLOW
-$247

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.

$525,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.1%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$11,671

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,421

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$2,1603$2,2504$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1302 E Myrtle Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 1972 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.00
    •  
  • 7757 N 12th Street Phoenix, AZ 1
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1954 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1954
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.02
    •  
  • 727 E Palmaire Avenue Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,918 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,918 Sqft ∙ Built 1972
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.17
    •  
  • 1236 E Mclellan Boulevard Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1953 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1953
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.15
    •  
  • 626 E Vista Avenue Phoenix, AZ 5
    • 4 beds 2 baths ∙ 2,159 Sqft ∙ Built 1960 4 beds 2 baths ∙ 2,159 Sqft ∙ Built 1960
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.16
    •  
PROPERTY LISTING DETAILS
Debbie M Tupper
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6179117
Last Updated: 01/14/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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