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1322 W Highland Avenue Phoenix, AZ 85013

3 Beds 2 Baths 1,447 sqft Built 1956

$345,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $238.42
  • 31 Days on Market
  • MLS # : 6156880
  • Updated Date : 12/02/2020 at 10:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,447 sqft
  • Baths : 2 full
Listing Agent

Homie

Listing Agent's Description

Ranch style home that contains 1,447 sq. ft. and was built in 1956. Large corner lot, with north-south exposure. It contains 3 carpeted bedrooms and 2 tiled bathrooms. The kitchen has gone through a remodel with Ikea cabinets. Kitchen has been opened to the living room and dining room, for a large tiled open living space. New windows, new roof (including patio rebuild), new gas hot water heater. A/C was installed in 2008.

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PRICE & RENT TRENDS

Neighborhood: Cox Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k284k

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

Neighborhood: Cox Estates

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
Clarendon School Primary Regular 440 25 3
Osborn Middle School Middle Alternative 565 30 5
Central High School High Regular 2,251 136 3

Clarendon School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 25
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
 

$310,500$379,500$345,000

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 -$1,273
Property Tax -$182
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
-$59

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.

$345,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.45%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$20,184

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
  • $1.07

    LIST RENT PER SQFT
  • $1,552

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,5003$1,5004$1,5505$1,795
$1,795
RENT COMPS ANALYSIS
  • 1322 W Highland Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 4537 N 15th Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 1952
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.15
    •  
  • 1577 W Hazelwood Street Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1965
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 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
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
  • 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
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.15
    •  
PROPERTY LISTING DETAILS
Daryl R Snow
Homie
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156880
Last Updated: 12/02/2020
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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