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15240 S 40th Place Phoenix, AZ 85044

4 Beds 2 Baths 2,245 sqft Built 1993

$399,999

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $178.17
  • 2 Days on Market
  • MLS # : 6160703
  • Updated Date : 11/14/2020 at 14:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,245 sqft
  • Baths : 2 full
Listing Agent

Realty One Scottsdale Llc

Listing Agent's Description

Beautiful single story home, vaulted ceilings,ceiling fans in all rooms, 2 tone paint inside, Travertine stone flooring throughout, surround sound, Fireplace, stainless steel appliances, Large back yard enough room for a pool, 3 Car garage, Hoa includes heated pool, spas,tennins courts,parks,hiking and etc.... Kyrene schools.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mountain Park Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k379k

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

Neighborhood: Mountain Park Ranch

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
Kyrene De La Esperanza School Primary Regular 530 30 8
Kyrene Centennial Middle School Middle Regular 1,054 57 7
Mountain Pointe High School High Regular 2,685 111 3

Kyrene De La Esperanza School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 30
8
GreatSchools Rating

Kyrene Centennial Middle School

  • Education Level: Middle
  • # of students: 1,054
  • # of teachers: 57
7
GreatSchools Rating

Mountain Pointe High School

  • Education Level: High
  • # of students: 2,685
  • # of teachers: 111
3
GreatSchools Rating
 

$359,999$439,999$399,999

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,476
Property Tax -$293
Property Insurance -$71
HOA -$4
Property Management Fees -$99
CASH FLOW
$127

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.

$399,999

PROJECTED PRICE

$2,070

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.8%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $299,999
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$40,240

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
  • $2,223

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9953$2,1954$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 15240 S 40th Place Phoenix, AZ 1
    • 4 beds 2 baths ∙ 2,245 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,245 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 15010 S 40th Place Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,049 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,049 Sqft ∙ Built 1986
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.97
    •  
  • 15039 S 40th Place Phoenix, AZ 3
    • 4 beds 2 baths ∙ 2,229 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,229 Sqft ∙ Built 1993
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.98
    •  
  • 15210 S 44th Place Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 1992
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
  • 16244 S 40th Way Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 1992
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.02
    •  
PROPERTY LISTING DETAILS
Debra Gates
Realty One Scottsdale Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160703
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.

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