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1348 W Portland Street Phoenix, AZ 85007

2 Beds 1 Baths 840 sqft Built 1930

$329,900

List Price

$1,120

$1K - $1.2K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1930
  • Price/Sqft : $392.74
  • 5 Days on Market
  • MLS # : 6176699
  • Updated Date : 01/13/2021 at 18:31
CONSTRUCTION
  • Beds : 2
  • Floor Size : 840 sqft
  • Baths : 1 full
Listing Agent

Hague Partners

Listing Agent's Description

72HOUR HOME SALE! Incredible opportunity to own this 2bed/1bath 1930's Bungalow in the FQ Story Historic District! Situated on a large premium corner lot this gem features great curb appeal leading into the light and bright interior with a fireplace in living, beautiful wood flooring and charming original details throughout. Updated kitchen boasts a stainless steel gas range. Gorgeous bathroom includes a clawfoot tub, pedestal sink and period tile. Enjoy mornings and evenings on the paver patio. Perfect for sipping coffee or a BBQ. Amazing location, steps to dining, shopping, parks and easy access to I-10. Plenty of space for additions to sq/ft and adding value. Truly a must see at this price!

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
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$1,146
Property Tax -$216
Property Insurance -$44
Property Management Fees -$99
CASH FLOW
-$385

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.

$329,900

PROJECTED PRICE

$1,120

PROJECTED RENT

0.34%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$549

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
  • $1,048

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$7953$8504$8755$1,395
$1,395
RENT COMPS ANALYSIS
  • 1348 W Portland Street Phoenix, AZ 1
    • 2 beds 1 baths ∙ 840 Sqft ∙ Built 1930 2 beds 1 baths ∙ 840 Sqft ∙ Built 1930
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1610 N 17th Avenue #3 Phoenix, AZ 2
    • 2 beds 1 baths ∙ 630 Sqft ∙ Built 1946 2 beds 1 baths ∙ 630 Sqft ∙ Built 1946
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $795
    • $1.26
    •  
  • 1321 W Mcdowell Road #7 Phoenix, AZ 3
    • 2 beds 1 baths ∙ 689 Sqft ∙ Built 1945 2 beds 1 baths ∙ 689 Sqft ∙ Built 1945
    property image
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $1.23
    •  
  • 1317 W Mcdowell Road #1 Phoenix, AZ 4
    • 2 beds 1 baths ∙ 689 Sqft ∙ Built 1945 2 beds 1 baths ∙ 689 Sqft ∙ Built 1945
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $1.27
    •  
  • 1714 N 17th Avenue Phoenix, AZ 5
    • 2 beds 1 baths ∙ 1,132 Sqft ∙ Built 1916 2 beds 1 baths ∙ 1,132 Sqft ∙ Built 1916
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.23
    •  
PROPERTY LISTING DETAILS
Alexander M Prewitt
Hague Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176699
Last Updated: 01/13/2021
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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