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1425 E Desert Cove Avenue #3 Phoenix, AZ 85020

2 Beds 2 Baths 1,592 sqft Built 1984

$229,900

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $144.41
  • 5 Days on Market
  • MLS # : 6200146
  • Updated Date : 03/02/2021 at 01:38
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,592 sqft
  • Baths : 2 full
Listing Agent

Your Place Realty

Listing Agent's Description

Location! Location, Location! Close to Hiking, shopping dining, and freeways. New flooring throughout including carpet in the bedrooms. New AC in 2020, partial wiring update at the breaker box in 2020 AND NEW roof in 2021. Cozy backyard has door to the pool area and mailboxes. Mountain views from front and backyards. Come see your next home now.

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
Shea Middle School Middle Regular 641 37 6
Shadow Mountain High School High Regular 1,390 67 3

Shea Middle School

  • Education Level: Middle
  • # of students: 641
  • # of teachers: 37
6
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$206,910$252,890$229,900

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 -$799
Property Tax -$145
Property Insurance -$58
HOA -$225
Property Management Fees -$99
CASH FLOW
-$16

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.

$229,900

PROJECTED PRICE

$1,310

PROJECTED RENT

0.57%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$10,052

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
  • $1,381

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2503$1,3504$1,3755$1,400
$1,400
RENT COMPS ANALYSIS
  • 1425 E Desert Cove Avenue #3 Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,592 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,592 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1425 E Desert Cove Avenue #50 Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,592 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,592 Sqft ∙ Built 1984
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.79
    •  
  • 1425 E Desert Cove Avenue #51 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,592 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,592 Sqft ∙ Built 1984
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 2346 E Poinsettia Drive Phoenix, AZ 4
    • 2 beds 1 baths ∙ 1,446 Sqft ∙ Built 1968 2 beds 1 baths ∙ 1,446 Sqft ∙ Built 1968
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.95
    •  
  • 1425 E Desert Cove Avenue #56 Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,592 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,592 Sqft ∙ Built 1984
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
PROPERTY LISTING DETAILS
Danita J Cuker
Your Place Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6200146
Last Updated: 03/02/2021
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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