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1337 W Latham Street Phoenix, AZ 85007

3 Beds 1 Baths 1,150 sqft Built 1930

$405,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1930
  • Price/Sqft : $352.17
  • 7 Days on Market
  • MLS # : 6161154
  • Updated Date : 11/16/2020 at 18:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,150 sqft
  • Baths : 1 full
Listing Agent

Retro Real Estate

Listing Agent's Description

A featured home on the 2019 FQ Story Home Tour, this 3 bed 1 bath red brick early ranch home is a stunner! Full of personality and fun its been tastefully updated including massive curb appeal and new wood flooring throughout and beautiful tile in the kitchen and dining room. The huge backyard and large storage shed round out this historic district home.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Story

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k357k

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

Neighborhood: Story

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8971765

* 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
Kenilworth School Primary Regular 591 27 4
Kenilworth School Middle Regular 591 27 4
Central High School High Regular 2,251 136 3

Kenilworth School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 27
4
GreatSchools Rating

Kenilworth School

  • Education Level: Middle
  • # of students: 591
  • # of teachers: 27
4
GreatSchools Rating

Central High School

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

$364,500$445,500$405,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,494
Property Tax -$216
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
-$519

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.

$405,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,075

INVESTMENT

$113,075

Down Payment
$101,250
Rehab Estimate
$5,750
Closing Costs
$6,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $101,250
Loan Amount $303,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,285

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,2493$1,3404$1,5755$1,600
$1,600
RENT COMPS ANALYSIS
  • 1337 W Latham Street Phoenix, AZ 3
    • 3 beds 1 baths ∙ 1,150 Sqft ∙ Built 1930 3 beds 1 baths ∙ 1,150 Sqft ∙ Built 1930
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.17
    •  
  • 1064 W Taylor Street Phoenix, AZ 1
    • 3 beds 1 baths ∙ 906 Sqft ∙ Built 1950 3 beds 1 baths ∙ 906 Sqft ∙ Built 1950
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $1.10
    •  
  • 1907 W Monte Vista Road Phoenix, AZ 2
    • 4 beds 1 baths ∙ 1,096 Sqft ∙ Built 1935 4 beds 1 baths ∙ 1,096 Sqft ∙ Built 1935
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $1.14
    •  
  • 550 W Cambridge Avenue Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 1945 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 1945
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.12
    •  
  • 722 W Portland Street Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1931
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.11
    •  
PROPERTY LISTING DETAILS
John O'hagan
Retro Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6161154
Last Updated: 11/16/2020
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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