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1417 E Berridge Lane Phoenix, AZ 85014

4 Beds 2 Baths 2,043 sqft Built 1957

$649,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $317.67
  • 2 Days on Market
  • MLS # : 6203363
  • Updated Date : 03/06/2021 at 23:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,043 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Charming spacious Semi-custom 4 BR perfectly located, light open all one level living with views of lush green lawns flowers & large legacy shade trees, perfectly located at 1417 E Berridge LN Phoenix Arizona. NEW ROOF 02-2021 W WARRANTY, 60 year same owner shows high pride of ownership, tons of hardwood cabinetry throughout, family room fireplace looks out over green patio turf to, lawn flower beds, and manicured lawns, are just a sample of the many high quality updates done over the years, front living room can flex space to formal dining or game area, large chefs kitchen with hardwood cabinetry & pantry, spacious family room beautiful custom warm brick fireplace and a built in desks/shelving, built in desks for study or den, DON'T MISS THIS ONE!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rose Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k455k

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

Neighborhood: Rose Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342144

* 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
Madison Rose Lane School Primary Regular 815 43 7
North High School High Regular 2,616 128 5
Phoenix Coding Academy High Regular NA

Madison Rose Lane School

  • Education Level: Primary
  • # of students: 815
  • # of teachers: 43
7
GreatSchools Rating

North High School

  • Education Level: High
  • # of students: 2,616
  • # of teachers: 128
5
GreatSchools Rating

Phoenix Coding Academy

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

$584,100$713,900$649,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$2,254
Property Tax -$466
Property Insurance -$67
Property Management Fees -$99
CASH FLOW
-$927

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.

$649,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.8%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,254

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$77

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
  • $1,992

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6493$1,8004$2,0005$2,095
$2,095
RENT COMPS ANALYSIS
  • 1417 E Berridge Lane Phoenix, AZ 1
    • 4 beds 2 baths ∙ 2,043 Sqft ∙ Built 1957 4 beds 2 baths ∙ 2,043 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6040 N 15th Street #39 Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1963 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1963
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.95
    •  
  • 6115 N 13th Street Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1975
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
  • 1236 E Mclellan Boulevard Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1953 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1953
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.96
    •  
  • 1017 E Bethany Home Road Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1950 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1950
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.01
    •  
PROPERTY LISTING DETAILS
Douglas K. Chapman
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203363
Last Updated: 03/06/2021
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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