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1520 W Berridge Lane Phoenix, AZ 85015

4 Beds 3 Baths 1,767 sqft Built 1951

$439,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $248.95
  • 3 Days on Market
  • MLS # : 6162750
  • Updated Date : 11/21/2020 at 12:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,767 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This is a stunning brick mid-century home in Hoffmantown. RARE-TO-MARKET with FOUR BEDROOMS and THREE BATHROOMS! Built in 1951, the brick exterior mixed with newer modern facades creates attractive curb appeal from both past and present eras. Once inside, the integrity of the floorplan has been honored by creating a modern/mid-Century modern theme. A beautiful, see-through wood divider is between the kitchen and dining areas and is perfect for decor, family photos, or collectibles. Kitchen has rich cabinetry, quartz counters and stainless steel appliances (gas cooktop). The kitchen is open to a space currently used as a dining room which also could be used for a TV room. A nook/reading area (also perfect for dining) is adjacent to the kitchen. Owner Suite is split from other bedrooms with

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PRICE & RENT TRENDS

Neighborhood: Hoffmantown

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k284k

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

Neighborhood: Hoffmantown

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
Maryland Elementary School Primary Regular 899 48 2
Maryland Elementary School Middle Regular 899 48 2
Washington High School High Regular 1,714 73 4

Maryland Elementary School

  • Education Level: Primary
  • # of students: 899
  • # of teachers: 48
2
GreatSchools Rating

Maryland Elementary School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 48
2
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 73
4
GreatSchools Rating
 

$395,910$483,890$439,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,623
Property Tax -$243
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$395

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.

$439,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.8%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,799

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
  • $1,659

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3953$1,4954$1,7955$1,999
$1,999
RENT COMPS ANALYSIS
  • 1520 W Berridge Lane Phoenix, AZ 1
    • 4 beds 3 baths ∙ 1,693 Sqft ∙ Built 1951 4 beds 3 baths ∙ 1,693 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1725 W Marlette Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1970
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 1812 W Claremont Street Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1970
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 5548 N 12th Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 1950
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.00
    •  
  • 5812 N 14th Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1951
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.07
    •  
PROPERTY LISTING DETAILS
Michael Korzeniowski
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162750
Last Updated: 11/21/2020
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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