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1409 E Paradise Lane Phoenix, AZ 85022

3 Beds 2 Baths 1,312 sqft Built 1984

$349,900

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $266.69
  • 2 Days on Market
  • MLS # : 6190666
  • Updated Date : 02/06/2021 at 23:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,312 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Private back yard oasis with large SWIMMING POOL & SPA plus lush vegetation, grass lawn, & outdoor shower *Perfect place to hang out during beautiful spring weather & to cool off during hot summers *Pass-through window, patio counter, & misting system are great for back yard parties *You have views of the back yard as you enter the home with a VAULTED CEILING adding more open space *NEWER ROOF *NEWER A/C *New dishwasher *Single level *Desert landscaping in front yard with stately saguaro cactus *No HOA *Excellent Moon Valley area *Located near LOOKOUT MOUNTAIN PRESERVE & hiking trails *Two miles from all the 7th St & Bell area shopping & restaurants *PV Schools with International Baccalaureate & Pre-IB programs

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $88k271k

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

Neighborhood: North Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8821567

* 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
Aire Libre Elementary School Primary Regular 378 28 4
Aire Libre Elementary School Middle Regular 378 28 4
North Canyon High School High Regular 1,957 86 4

Aire Libre Elementary School

  • Education Level: Primary
  • # of students: 378
  • # of teachers: 28
4
GreatSchools Rating

Aire Libre Elementary School

  • Education Level: Middle
  • # of students: 378
  • # of teachers: 28
4
GreatSchools Rating

North Canyon High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 86
4
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$1,215
Property Tax -$220
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
-$257

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.

$349,900

PROJECTED PRICE

$1,330

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.4%
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$8.0k$10k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$4,723

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,348

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,330
1$1,3302$1,4953$1,4954$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 1409 E Paradise Lane Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.01
    •  
  • 17017 N 12th Street #1005 Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1996
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.05
    •  
  • 17017 N 12th Street #1084 Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1996
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.05
    •  
  • 17606 N 17th Place #1064 Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,583 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,583 Sqft ∙ Built 1998
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.01
    •  
  • 1702 E Bell Road #130 Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,658 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,658 Sqft ∙ Built 2004
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Leif T Swanson
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190666
Last Updated: 02/06/2021
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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