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14016 N Medinan Drive Phoenix, AZ 85022

2 Beds 2 Baths 2,085 sqft Built 1973

$529,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $254.15
  • 5 Days on Market
  • MLS # : 6201550
  • Updated Date : 03/03/2021 at 14:28
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,085 sqft
  • Baths : 2 full
Listing Agent

Proamerica Real Estate

Listing Agent's Description

Rare Moon Valley find in sought-after Hillcrest 55+ community. Corner lot home with side entry garage & spacious front patio, created for you to relax and enjoy the peaceful park across the street and mountain views beyond. Meticulously cared for and updated home is open & bright and flows through many entertainment spaces including a large covered back patio. The large master bedroom and updated bath includes a generous walk-in closet and French doors opening to its own private outdoor Zen/sitting area. A large bonus room is the perfect extra space, for entertaining, office space or an extra bedroom. Hillcrest is a one-of-a-kind, self-managed, debt-free adult community that includes two parks, a pavilion and a saltwater pool. Golf, shop, hike & enjoy easy freeway access.

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
 

$476,910$582,890$529,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,841
Property Tax -$316
Property Insurance -$68
HOA -$10
Property Management Fees -$99
CASH FLOW
-$484

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.

$529,900

PROJECTED PRICE

$1,850

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$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,174

INVESTMENT

$146,174

Down Payment
$132,475
Rehab Estimate
$5,750
Closing Costs
$7,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,475
Loan Amount $397,425
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,826

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
  • $2,022

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6953$1,900
$1,900
RENT COMPS ANALYSIS
  • 14016 N Medinan Drive Phoenix, AZ 1
    • 2 beds 2 baths ∙ 2,085 Sqft ∙ Built 1973 2 beds 2 baths ∙ 2,085 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 14029 N Medinan Drive Phoenix, AZ 2
    • 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 3
    • 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
Darla J Williford
Proamerica Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6201550
Last Updated: 03/03/2021
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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