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14015 N Medinan Drive Phoenix, AZ 85022

2 Beds 2 Baths 1,847 sqft Built 1973

$485,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $262.59
  • 4 Days on Market
  • MLS # : 6196031
  • Updated Date : 02/18/2021 at 22:43
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,847 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

HONEY STOP THE CAR!! THIS IS IT!! Beautiful single level home in the sought after active adult community of Hillcrest, situated on a premium corner lot. Must see interior is sure to impress. Flowing floor plan offers a sunken formal living area, Brand new carpet, a gorgeous fireplace and formal dining with wood flooring and trey ceilings. Eat in kitchen boasts ss appliances, stylish mosaic tile backsplash and granite countertops. Spacious master retreat with french doors to patio. The pristine backyard with covered patio is the perfect place to relax and enjoy Arizona year round. Located in the heart of the Moon Valley area in Phoenix, Arizona, Hillcrest offers a community salt water pool, a park, and a community pavilion. Do not miss out on this gem! See it today

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Hillcrest

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Hillcrest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Mountain Sky Junior High School Middle Regular 741 35 7
Thunderbird High School High Regular 1,507 63 6

Mountain Sky Junior High School

  • Education Level: Middle
  • # of students: 741
  • # of teachers: 35
7
GreatSchools Rating

Thunderbird High School

  • Education Level: High
  • # of students: 1,507
  • # of teachers: 63
6
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,685
Property Tax -$289
Property Insurance -$63
HOA -$10
Property Management Fees -$99
CASH FLOW
-$456

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.

$485,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,313

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
  • $1,792

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4953$1,6954$1,900
$1,900
RENT COMPS ANALYSIS
  • 14015 N Medinan Drive Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,847 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,847 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 317 W Sumerset Drive Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,540 Sqft ∙ Built 1986 2 beds 2 baths ∙ 1,540 Sqft ∙ Built 1986
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 14029 N Medinan Drive Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,847 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,847 Sqft ∙ Built 1973
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
  • 509 E Boca Raton Road Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,869 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,869 Sqft ∙ Built 1973
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.02
    •  
PROPERTY LISTING DETAILS
Rina Geist
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6196031
Last Updated: 02/18/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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