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1426 E Hoover Avenue Phoenix, AZ 85006

2 Beds 1 Baths 809 sqft Built 1946

$280,000

List Price

$930

$837 - $1K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1946
  • Price/Sqft : $346.11
  • 2 Days on Market
  • MLS # : 6191071
  • Updated Date : 02/13/2021 at 08:15
CONSTRUCTION
  • Beds : 2
  • Floor Size : 809 sqft
  • Baths : 1 full
Listing Agent

Pitchfork Property Brokers, Llc

Listing Agent's Description

This home has the charm and character of a historic home. It sits on a large lot in an area being revitalized street by street. Conveniently located near eateries, shopping, entertainment and golf! Home will be sold as is. Buyer to verify all facts and figures.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Coronado

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $83k311k

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

Neighborhood: Coronado

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8061567

* 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
North High School High Regular 2,616 128 5
Phoenix Coding Academy High Unknown NA
Phoenix Coding Academy High Regular NA

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

Phoenix Coding Academy

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

$252,000$308,000$280,000

PURCHASE PRICE

$837$1,023$930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $930
EXPENSES Loan Payment -$973
Property Tax -$156
Property Insurance -$43
Property Management Fees -$99
CASH FLOW
-$340

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.

$280,000

PROJECTED PRICE

$930

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 14.1%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$352

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $930

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $886

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$930
1$9302$9993$1,195
$1,195
RENT COMPS ANALYSIS
  • 1426 E Hoover Avenue Phoenix, AZ 1
    • 2 beds 1 baths ∙ 809 Sqft ∙ Built 1946 2 beds 1 baths ∙ 809 Sqft ∙ Built 1946
    • Rent
    • Rent Per SQFT
    •  
    • $930
    • $1.15
    •  
  • 2336 N 11th Street #c Phoenix, AZ 2
    • 2 beds 1 baths ∙ 900 Sqft ∙ Built 1945 2 beds 1 baths ∙ 900 Sqft ∙ Built 1945
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $999
    • $1.11
    •  
  • 353 E Thomas Road #c107 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,102 Sqft ∙ Built 1960 2 beds 2 baths ∙ 1,102 Sqft ∙ Built 1960
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.08
    •  
PROPERTY LISTING DETAILS
Christina Cline
Pitchfork Property Brokers, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6191071
Last Updated: 02/13/2021
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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