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1442 E Milada Drive Phoenix, AZ 85042

3 Beds 3 Baths 2,351 sqft Built 2017

$515,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $219.06
  • 3 Days on Market
  • MLS # : 6172884
  • Updated Date : 12/18/2020 at 19:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,351 sqft
  • Baths : 2 full , 1 half
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Almost new, barely lived in South Mountain beauty. Premium corner lot in a quiet gated community. Close to hiking trails. Upgraded 24'' x 24'' ceramic tile flooring. SS GE Profile appliances. Gas Range. Walk-in pantry. Den with double doors (w/ closet) easily convertible to 4th bedroom. Pebble tech pool with swim-up table. Artificial grass. Cool deck surrounds. High-end misting system in patio and poolside - awesome in summer! Must see.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: South Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: South Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7291567

* 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
Maxine O. Bush Elementary School Primary Regular 451 22 2
Maxine O. Bush Elementary School Middle Regular 451 22 2
South Mountain High School High Regular 1,706 102 2

Maxine O. Bush Elementary School

  • Education Level: Primary
  • # of students: 451
  • # of teachers: 22
2
GreatSchools Rating

Maxine O. Bush Elementary School

  • Education Level: Middle
  • # of students: 451
  • # of teachers: 22
2
GreatSchools Rating

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating
 

$463,500$566,500$515,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,900
Property Tax -$335
Property Insurance -$73
HOA -$125
Property Management Fees -$99
CASH FLOW
-$252

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.

$515,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.9%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$14,994

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,051

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,8003$1,9954$2,2805$2,495
$2,495
RENT COMPS ANALYSIS
  • 1442 E Milada Drive Phoenix, AZ 4
    • 3 beds 3 baths ∙ 2,351 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,351 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.97
    •  
  • 1205 E Milada Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 2,350 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,350 Sqft ∙ Built 2004
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.69
    •  
  • 1302 E Beth Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2003
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
  • 1812 E Beverly Road Phoenix, AZ 3
    • 3 beds 2 baths ∙ 2,169 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,169 Sqft ∙ Built 2003
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.92
    •  
  • 943 E Paseo Way Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2020
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.05
    •  
PROPERTY LISTING DETAILS
Ariel A Carlos
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172884
Last Updated: 12/18/2020
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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