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14350 N Medinan Drive Phoenix, AZ 85022

5 Beds 3 Baths 2,972 sqft Built 1970

$585,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $196.84
  • 4 Days on Market
  • MLS # : 6172416
  • Updated Date : 12/19/2020 at 15:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,972 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Arizona Foothills

Listing Agent's Description

This property sits in a very desirable location in the neighborhood, with the backyard facing the golf course driving range and mountain views in the distance. The split floor plan and number of bedrooms provides an opportunity for multi-generational living, rental income, or private home office. The backyard is perfect for entertaining! There is a large covered patio, sunken grass area for parties, outdoor dining or kids play area. There's also a fabulous pool with fountains, lights, fire accents and a slide. Bring your imagination and create your dream home in Moon Valley!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Moon Valley

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k484k

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

Neighborhood: Moon Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9342444

* 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
Lookout Mountain Elementary School Primary Regular 1,022 50 9
Lookout Mountain Elementary School Middle Regular 1,022 50 9
Thunderbird High School High Regular 1,507 63 6

Lookout Mountain Elementary School

  • Education Level: Primary
  • # of students: 1,022
  • # of teachers: 50
9
GreatSchools Rating

Lookout Mountain Elementary School

  • Education Level: Middle
  • # of students: 1,022
  • # of teachers: 50
9
GreatSchools Rating

Thunderbird High School

  • Education Level: High
  • # of students: 1,507
  • # of teachers: 63
6
GreatSchools Rating
 

$526,500$643,500$585,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$2,158
Property Tax -$349
Property Insurance -$85
Property Management Fees -$99
CASH FLOW
-$21

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.

$585,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$39,146

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,893

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,6703$2,8004$2,950
$2,950
RENT COMPS ANALYSIS
  • 14350 N Medinan Drive Phoenix, AZ 2
    • 5 beds 3 baths ∙ 2,972 Sqft ∙ Built 1970 5 beds 3 baths ∙ 2,972 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $0.90
    •  
  • 801 E Waltann Lane Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,885 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,885 Sqft ∙ Built 1980
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.90
    •  
  • 9 W Country Gables Drive Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,822 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,822 Sqft ∙ Built 1976
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.99
    •  
  • 14002 N Canterbury Drive Phoenix, AZ 4
    • 5 beds 3 baths ∙ 2,864 Sqft ∙ Built 1978 5 beds 3 baths ∙ 2,864 Sqft ∙ Built 1978
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jessica Kreuser
Century 21 Arizona Foothills
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172416
Last Updated: 12/19/2020
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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