Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1411 E Romley Avenue Phoenix, AZ 85040

4 Beds 3 Baths 1,580 sqft Built 2004

$274,900

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $173.99
  • 3 Days on Market
  • MLS # : 6206314
  • Updated Date : 03/12/2021 at 16:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,580 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad

Listing Agent's Description

VACANT! Updated home in Ridgefield! Neutral color palette throughout! Granite countertops and matching black appliances in the kitchen. Patio off of the kitchen. All bedrooms up. Come see it today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Ridgefield

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $65k271k

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

Neighborhood: Ridgefield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6431567

* 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
South Mountain High School High Regular 1,706 102 2
Phoenix Coding Academy High Unknown NA
Phoenix Coding Academy High Regular NA

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$955
Property Tax -$179
Property Insurance -$58
HOA -$114
Property Management Fees -$99
CASH FLOW
-$95

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.

$274,900

PROJECTED PRICE

$1,310

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,038

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,434

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,3953$1,4494$1,5455$1,675
$1,675
RENT COMPS ANALYSIS
  • 1411 E Romley Avenue Phoenix, AZ 1
    • 4 beds 3 baths ∙ 1,580 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,580 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.83
    •  
  • 1934 E Pueblo Avenue Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,623 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,623 Sqft ∙ Built 2008
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.86
    •  
  • 1455 E Bloch Road Phoenix, AZ 3
    • 4 beds 3 baths ∙ 1,580 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,580 Sqft ∙ Built 2003
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.92
    •  
  • 1813 E Alta Vista Road Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 1987
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.92
    •  
  • 1712 E Grove Street Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2017
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.93
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206314
Last Updated: 03/12/2021
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.

BESbswy