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1311 E Cholla Street Phoenix, AZ 85020

2 Beds 1 Baths 889 sqft Built 1953

$276,500

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $311.02
  • 4 Days on Market
  • MLS # : 6159614
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 2
  • Floor Size : 889 sqft
  • Baths : 1 full
Listing Agent

Tru Realty

Listing Agent's Description

TWO lots for one!!! This very special property is located on 1/3 acre, with horse privileges and 360 degree mountain views! Not only do you get a practically new 2 bedroom, 1 bath home, it comes with it's very own studio guest house, complete with kitchen and bath. Home includes a newly coated foam roof, new Trane unit, and brand new septic tank installed June 2020. From the back deck, you can see all the way to downtown Phoenix. You must come check out the views to get the full serenity of this property!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cactus Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Cactus Heights

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
Larkspur Elementary School Primary Regular 517 34 4
Shea Middle School Middle Regular 641 37 6
Shadow Mountain High School High Regular 1,390 67 3

Larkspur Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 34
4
GreatSchools Rating

Shea Middle School

  • Education Level: Middle
  • # of students: 641
  • # of teachers: 37
6
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$248,850$304,150$276,500

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$1,020
Property Tax -$174
Property Insurance -$45
Property Management Fees -$99
CASH FLOW
-$178

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.

$276,500

PROJECTED PRICE

$1,160

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.1%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,023

INVESTMENT

$79,023

Down Payment
$69,125
Rehab Estimate
$5,750
Closing Costs
$4,148

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,020

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,125
Loan Amount $207,375
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$6,768

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
  • $1,151

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$7953$9954$9955$1,300
$1,300
RENT COMPS ANALYSIS
  • 1311 E Cholla Street Phoenix, AZ 1
    • 2 beds 1 baths ∙ 889 Sqft ∙ Built 1953 2 beds 1 baths ∙ 889 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1521 E Sunnyside Drive #a Phoenix, AZ 2
    • 2 beds 1 baths ∙ 601 Sqft ∙ Built 1949 2 beds 1 baths ∙ 601 Sqft ∙ Built 1949
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $795
    • $1.32
    •  
  • 9010 N 9th Street #7 Phoenix, AZ 3
    • 2 beds 1 baths ∙ 782 Sqft ∙ Built 1973 2 beds 1 baths ∙ 782 Sqft ∙ Built 1973
    property image
    LEASED 06/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $1.27
    •  
  • 9218 N 6th Street #3 Phoenix, AZ 4
    • 2 beds 1 baths ∙ 760 Sqft ∙ Built 1962 2 beds 1 baths ∙ 760 Sqft ∙ Built 1962
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $1.31
    •  
  • 1313 E Christy Drive Phoenix, AZ 5
    • 2 beds 1 baths ∙ 1,012 Sqft ∙ Built 1961 2 beds 1 baths ∙ 1,012 Sqft ∙ Built 1961
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.28
    •  
PROPERTY LISTING DETAILS
Nicole Eaton
Tru Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159614
Last Updated: 11/13/2020
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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