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1514 W Vernon Avenue Phoenix, AZ 85007

4 Beds 3 Baths 2,459 sqft Built 1926

$750,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1926
  • Price/Sqft : $305.00
  • 5 Days on Market
  • MLS # : 6198649
  • Updated Date : 02/27/2021 at 22:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,459 sqft
  • Baths : 3 full
Listing Agent

North & Co

Listing Agent's Description

Unique opportunity to own a beautiful historic home on a large lot in one of the premier historic districts in Phoenix. Del Norte Place - a 1926 English Cottage home with a detached casita, rich in history & prestige. This was the personal residence of J. Allen Ginn, the original builder in Del Norte Place, and has an estate like feel with the arched auto court, Jerkinhead/clipped gable roof, shrub hedge, mature landscaping and double lot which offers a huge pool & playground. Classic historic features including original sconces, marble fireplace, stained glass windows, basket weave tile in bathroom & barrel ceilings. Plus, scored concrete with inlaid Saltillo tile, hardwood floors, double hung windows, niches in the living room & hallway, built-in bookshelves and arched doorways. The livi

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PRICE & RENT TRENDS

Neighborhood: Del Norte Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k414k

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

Neighborhood: Del Norte Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Central High School High Regular 2,251 136 3
Phoenix Coding Academy High Regular NA
Phoenix Coding Academy High Unknown NA

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
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
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$2,605
Property Tax -$400
Property Insurance -$75
Property Management Fees -$99
CASH FLOW
-$929

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.

$750,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 9.5%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$397

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,668

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$2,2503$3,495
$3,495
RENT COMPS ANALYSIS
  • 1514 W Vernon Avenue Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,459 Sqft ∙ Built 1926 4 beds 3 baths ∙ 2,459 Sqft ∙ Built 1926
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.92
    •  
  • 309 W Almeria Road Phoenix, AZ 1
    • 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 1945 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 1945
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.77
    •  
  • 1819 N 11th Avenue Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 1937 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 1937
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.40
    •  
PROPERTY LISTING DETAILS
Erik Jensen
North & Co
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6198649
Last Updated: 02/27/2021
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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