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1322 E Verde Lane Phoenix, AZ 85014

3 Beds 2 Baths 2,045 sqft Built 1954

$575,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $281.17
  • 5 Days on Market
  • MLS # : 6175427
  • Updated Date : 12/30/2020 at 18:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,045 sqft
  • Baths : 2 full
Listing Agent

Re/max Professionals

Listing Agent's Description

* Mid-Century Charmer in Midtown - Country Club Terrace is a Small Hidden Enclave next to the Phoenix Country Club & between Cheery Lynn & Coronado Historic Districts * Oversized Cul-de-sac Lot, Modern Updates over the years with Extreme Care for Integrity of Original Aesthetic & Design * Open Kitchen Features the Original 1954 Steel Cabinets Refinished & Paired with New Custom Beveled Cabinets at Island, Custom Wood Shelves/Drawers, Brazilian Teak & Waterfall Edge Quartz Countertops, Full Tiled Backsplash, Copper Hardware & Accented Pendants, KitchenAid Appliances, Zephyr Lux Range Hood * Bamboo Wood & Modern Tile Flooring * Original Breeze Block at Entry Incorporated into Kitchen Re-Design, Great room with Textured Walls/Ceilings, Recessed Lighting * Sunny Dining Room & Massive Sliding

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Country Club Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $91k403k

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

Neighborhood: Country Club Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9341883

* 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
Longview Elementary School Primary Alternative 627 33 2
Osborn Middle School Middle Alternative 565 30 5
North High School High Regular 2,616 128 5

Longview Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 33
2
GreatSchools Rating

Osborn Middle School

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

North High School

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

$517,500$632,500$575,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$2,122
Property Tax -$303
Property Insurance -$67
Property Management Fees -$99
CASH FLOW
-$271

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.

$575,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.8%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$20,401

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,326

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$2,2503$2,3204$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 1322 E Verde Lane Phoenix, AZ 3
    • 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1954 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $1.13
    •  
  • 1832 E Monterey Way Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1952
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.01
    •  
  • 1355 E Weldon Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1946
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.19
    •  
  • 1221 E Windsor Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1951 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1951
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.13
    •  
  • 1436 E Monte Vista Road Phoenix, AZ 5
    • 4 beds 2 baths ∙ 2,054 Sqft ∙ Built 1950 4 beds 2 baths ∙ 2,054 Sqft ∙ Built 1950
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.22
    •  
PROPERTY LISTING DETAILS
Cara Mcguire
Re/max Professionals
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6175427
Last Updated: 12/30/2020
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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