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1526 E Cortez Street Phoenix, AZ 85020

4 Beds 2 Baths 1,500 sqft Built 2008

$300,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $200.00
  • 5 Days on Market
  • MLS # : 6154141
  • Updated Date : 10/31/2020 at 15:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

Hazelwood Property Mgmt, Llc

Listing Agent's Description

WOW! Where to start... This 4 bedroom 2 bath home has a ton to offer its new owner. Extended height ceilings, front covered porch, open concept and RV gate are just part of the features of the home. This home has a large kitchen and tons of counter space with bar seating, recessed lighting, built in microwave and tons of cabinets and drawers. The living room is large with plenty of space for the large TV and comfy cozy couch. The casual dining room has access to the back yard and laundry room. The master bedroom is large with a full bath that hosts two sinks and lots of storage and lets not forget the walk in closet. Dogs on property, must make an appointment. Please note the square footage is a guess and needs to confirmed by buyer.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Las Bonitas Alturas

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $78k271k

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

Neighborhood: Las Bonitas Alturas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9271567

* 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
Larkspur Elementary School Primary Regular 517 34 4
Shea Middle School Middle Regular 641 37 6
Shadow Mountain High School High Regular 1,390 67 3

Larkspur Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 34
4
GreatSchools Rating

Shea Middle School

  • Education Level: Middle
  • # of students: 641
  • # of teachers: 37
6
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,107
Property Tax -$189
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
$159

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.

$300,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.1%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$39,822

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
  • $1,796

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5003$1,6004$1,7705$1,795
$1,795
RENT COMPS ANALYSIS
  • 1526 E Cortez Street Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9609 N 13th Street #2 Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,275 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,275 Sqft ∙ Built 2003
    property image
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.18
    •  
  • 9609 N 13th Street #1 Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,275 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,275 Sqft ∙ Built 2003
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.25
    •  
  • 1422 E Cortez Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 2007
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.22
    •  
  • 1310 E Sheena Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1994
    property image
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.14
    •  
PROPERTY LISTING DETAILS
John E Besser
Hazelwood Property Mgmt, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154141
Last Updated: 10/31/2020
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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