Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1308 W Flower Street Phoenix, AZ 85013

3 Beds 2 Baths 1,400 sqft Built 1947

$479,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $342.79
  • 2 Days on Market
  • MLS # : 6263512
  • Updated Date : 07/12/2021 at 22:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,400 sqft
  • Baths : 2 full
Listing Agent

Desert Dimensions Properties

Listing Agent's Description

Unique 3bed / 2 bath, updated home w/ bonus room & 1 car detached garage in the Campus Vista Historic District! This home has kept its charming history while pulling in modern finishes & amenities. Lots of upgrades throughout like built ins, crown molding, full tile floors, upgraded fixtures, blinds, outlets & switches. Kitchen features upgraded cabinets & countertops, all SS appliances & storage area with extra countertop space. Bonus room behind kitchen is perfect for home office, playroom or pets. Detached 1 car garage w/ workshop & storage, covered patio & easy desert landscaping all round out the back yard! Home is steps from Phoenix College and just minutes to St. Joseph's, freeways, and so much downtown shopping & dining & entertainment!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mulberry Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k295k

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

Neighborhood: Mulberry Place

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
Encanto School Primary Alternative 664 32 3
Osborn Middle School Middle Alternative 565 30 5
Central High School High Regular 2,251 136 3

Encanto School

  • Education Level: Primary
  • # of students: 664
  • # of teachers: 32
3
GreatSchools Rating

Osborn Middle School

  • Education Level: Middle
  • # of students: 565
  • # of teachers: 30
5
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
GreatSchools Rating
 

$431,910$527,890$479,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,667
Property Tax -$253
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
-$523

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.

$479,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.4%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

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$132,924

INVESTMENT

$132,924

Down Payment
$119,975
Rehab Estimate
$5,750
Closing Costs
$7,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,667

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,975
Loan Amount $359,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,173

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,554

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5503$1,5554$1,6755$1,675
$1,675
RENT COMPS ANALYSIS
  • 1308 W Flower Street Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.11
    •  
  • 1110 W Turney Avenue Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,329 Sqft ∙ Built 1947 4 beds 2 baths ∙ 1,329 Sqft ∙ Built 1947
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.02
    •  
  • 2443 N 20th Avenue Phoenix, AZ 3
    • 3 beds 1 baths ∙ 1,340 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,340 Sqft ∙ Built 1952
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,555
    • $1.16
    •  
  • 1724 W Indianola Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1948
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.09
    •  
  • 3625 N 21st Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1951
    LEASED 04/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.17
    •  
PROPERTY LISTING DETAILS
Joseph A Maggiore
Desert Dimensions Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6263512
Last Updated: 07/12/2021
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.

BESbswy