Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1515 E Gary Way Phoenix, AZ 85042

3 Beds 2 Baths 1,760 sqft Built 2005

$309,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $175.57
  • 3 Days on Market
  • MLS # : 6159926
  • Updated Date : 11/14/2020 at 17:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,760 sqft
  • Baths : 2 full
Listing Agent

Re/max Professionals

Listing Agent's Description

Exquisite Home w/great curb appeal & 3 car garage. Spacious great room floor plan, beautiful tile floors, crown moulding, window blinds, ceiling fans, & soothing palette. Center kitchen island, granite counters, breakfast bar, under-mount sink, pantry, & plenty of white cabinets w/hardware. Perfect home for entertaining inside & out! Plush carpet in all the right places, private den or bonus room, generous size bedrooms, ample closets, & 2 pristine baths. Master retreat boasts French doors to patio, private upscale en suite w/a granite counter, new vanities, designer tile, & large walk-in shower. Serene backyard setting offers a covered paver patio, decorative stone, patio for dining or hot tub,(see remarks) & fire pit. Nearby Schools, Park. Close to Downtown, Dining, Shopping, and Freeway

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Highline Vista Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Highline Vista Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8901567

* 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
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,140
Property Tax -$201
Property Insurance -$62
HOA -$65
Property Management Fees -$99
CASH FLOW
$24

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$309,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$24,350

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,703

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5253$1,7494$1,8005$1,895
$1,895
RENT COMPS ANALYSIS
  • 1515 E Gary Way Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1626 E Harwell Road Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2004
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.97
    •  
  • 7061 S 14th Street Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 1987
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.90
    •  
  • 1514 E Gary Way Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2005
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
  • 1432 E Branham Lane Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 2006
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.05
    •  
PROPERTY LISTING DETAILS
Mario Bravo
Re/max Professionals
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159926
Last Updated: 11/14/2020
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.

BESbswy