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1337 W Monroe Street Phoenix, AZ 85007

3 Beds 2 Baths 1,420 sqft Built 1916

$317,500

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1916
  • Price/Sqft : $223.59
  • 2 Days on Market
  • MLS # : 6155005
  • Updated Date : 11/02/2020 at 00:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,420 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Beautiful 3 bedroom, 2 bathroom Registered Historic Brick Home in Downtown Phoenix with Open Floor Plan. Large Front Porch is Perfect for Entertaining. Stunning Kitchen Features Quartz Countertops, KraftMaid Self Closing Cabinets, LG Black Stainless-Steel Appliances, Breakfast Bar and Herringbone Porcelain Floors. Original Hardwood Floors and Brick Exposed, Inside Laundry and Mudroom. Remodeled Bathroom has Subway Tile, Dual Sinks and Custom Fixtures. AC installed in 2018. Spacious Backyard has Grass, Shed and Alley Access. Registered Historic Home has Tax Savings. Custom Mural on the Back of the Block Wall Honoring the US Military.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Governmental Mall

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $72k271k

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

Neighborhood: Governmental Mall

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6111567

* 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
Dunbar School Primary Regular 304 16 4
Dunbar School Middle Regular 304 16 4
Central High School High Regular 2,251 136 3

Dunbar School

  • Education Level: Primary
  • # of students: 304
  • # of teachers: 16
4
GreatSchools Rating

Dunbar School

  • Education Level: Middle
  • # of students: 304
  • # of teachers: 16
4
GreatSchools Rating

Central High School

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

$285,750$349,250$317,500

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 -$1,171
Property Tax -$169
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
-$55

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.

$317,500

PROJECTED PRICE

$1,440

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.5%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$89,888

INVESTMENT

$89,888

Down Payment
$79,375
Rehab Estimate
$5,750
Closing Costs
$4,763

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,171

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,375
Loan Amount $238,125
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$18,498

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
  • $1,543

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2003$1,5954$1,600
$1,600
RENT COMPS ANALYSIS
  • 1337 W Monroe Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1916 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1916
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 810 S 4th Avenue Phoenix, AZ 2
    • 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1918 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1918
    property image
    LEASED 10/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.09
    •  
  • 1904 W Holly Street Phoenix, AZ 3
    • 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 1930 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 1930
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.06
    •  
  • 722 W Portland Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1931
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.11
    •  
PROPERTY LISTING DETAILS
Anna Houck
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155005
Last Updated: 11/02/2020
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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