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1440 E Weldon Avenue Phoenix, AZ 85014

4 Beds 3 Baths 1,769 sqft Built 2002

$525,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $296.78
  • 3 Days on Market
  • MLS # : 6186939
  • Updated Date : 01/29/2021 at 18:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,769 sqft
  • Baths : 3 full
Listing Agent

Retsy

Listing Agent's Description

Welcome to Sterling Tract in Beautiful Mid-Town Phoenix! 1440 is the perfect combination of Modern Elegance and Timeless Perfect. Featuring a large front yard in a dog walk friendly neighborhood, you'll love spending many nights exploring all the awesome amenities this neighborhood has to offer. Huge primary suite with grand walk-in closet, and custom bathroom. Bedrooms 3 and 4 share a well appointed Jack & Jill bathroom. All new euro style flat faced kitchen cabinets, stainless steel appliances (fridge included), drawer microwave, granite counters, LED lighting, tankless hot water heater and NO CARPET! Schedule today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sterling

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $78k271k

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

Neighborhood: Sterling

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7561567

* 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
Osborn Middle School Middle Alternative 565 30 5
North High School High Regular 2,616 128 5
Phoenix Coding Academy High Regular NA

Osborn Middle School

  • Education Level: Middle
  • # of students: 565
  • # of teachers: 30
5
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
 

$472,500$577,500$525,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,824
Property Tax -$277
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$511

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.

$525,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.8%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,519

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,061

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$2,0003$2,2004$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 1440 E Weldon Avenue Phoenix, AZ 1
    • 4 beds 3 baths ∙ 1,769 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,769 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 4601 N 24th Place Phoenix, AZ 2
    • 4 beds 3 baths ∙ 1,740 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,740 Sqft ∙ Built 2001
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.15
    •  
  • 4230 N 21st Street #12 Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 2009
    LEASED 08/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.17
    •  
  • 4230 N 21st Street #6 Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 2010
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.17
    •  
  • 4230 N 21st Street #2 Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 2010
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.17
    •  
PROPERTY LISTING DETAILS
Paul A Nicoletti
Retsy
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186939
Last Updated: 01/29/2021
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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