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1310 W Medlock Drive Phoenix, AZ 85013

3 Beds 2 Baths 1,385 sqft Built 1956

$389,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $281.52
  • 3 Days on Market
  • MLS # : 6165285
  • Updated Date : 11/27/2020 at 11:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,385 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

Don't miss this single story home in Chris Gilgians Camelback Phoenix community! NEW ROOF! The home has been refreshed with new interior and exterior paint and new carpet. 18'' tile in the main areas. Modern upgrades and finishes, recessed lighting throughout. Open floorplan with living/dining great room off the foyer. The eat in kitchen features Corian countertops and tile backsplash and stainless steel appliances. The primary bedroom has an ensuite bathroom and large closet. The backyard has a covered patio, storage shed, and artificial grass, great for pets. Vacant and ready for viewing, come see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Camelback Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $91k320k

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

Neighborhood: Camelback Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
Solano School Primary Alternative 613 30 3
Osborn Middle School Middle Alternative 565 30 5
Central High School High Regular 2,251 136 3

Solano School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 30
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
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,439
Property Tax -$205
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$357

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.

$389,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 11.2%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,124

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,593

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4993$1,5004$1,6505$1,795
$1,795
RENT COMPS ANALYSIS
  • 1310 W Medlock Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4537 N 15th Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 1952
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.15
    •  
  • 1501 W Hazelwood Street Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1965
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
  • 1203 W Orange Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1958
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.26
    •  
  • 1214 W Highland Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1956
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.15
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165285
Last Updated: 11/27/2020
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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