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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1984
- Price/Sqft : $163.25
- 2 Days on Market
- MLS # : 6209259
- Updated Date : 03/20/2021 at 07:15
CONSTRUCTION
- Beds : 2
- Floor Size : 1,592 sqft
- Baths : 2 full
Listing Agent
Homesmart
Listing Agent's Description
Beautiful poolside condo in the heart of the Phoenix Mountain Preserve. This lovely open floor plan features 2 spacious bedrooms, 2 recently updated bathrooms and a kitchen/dining room that is perfect for entertainers. Roof updated in 2020. Ideal for a family or as a holiday retreat, this home is in perfect proximity to restaurants, shopping, and other amenities without dealing with the traditional chaos of the city. This home will not last long!!
SEE MORE
PRICE & RENT TRENDS
Neighborhood: North Mountain
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North Mountain
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,310 |
| EXPENSES | Loan Payment | -$903 |
| Property Tax | -$164 | |
| Property Insurance | -$58 | |
| HOA | -$225 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$139
|
||
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.
$259,900
PROJECTED PRICE
$1,310
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$74,624
LOAN DETAILS
$903
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $64,975 |
| Loan Amount | $194,925 |
2.33
YEARS SAVED
$4,418
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 -
$0.82
LIST RENT PER SQFT
-
$1,381
COMP ESTIMATED VALUE -
$0.87
COMP AVG. RENT PER SQFT
Comps Range
-
1425 E Desert Cove Avenue #52 Phoenix, AZ 2
- 2 beds 2 baths ∙ 1,592 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,592 Sqft ∙ Built 1984
- Rent
- Rent Per SQFT
- $1,310
- $0.82
-
1425 E Desert Cove Avenue #50 Phoenix, AZ 1
- 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
Homesmart
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6209259
Last Updated: 03/20/2021
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.
