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1541 E Cheery Lynn Road Phoenix, AZ 85014

3 Beds 2 Baths 1,775 sqft Built 1942

$519,900

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1942
  • Price/Sqft : $292.90
  • 3 Days on Market
  • MLS # : 6176095
  • Updated Date : 01/02/2021 at 23:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,775 sqft
  • Baths : 2 full
Listing Agent

Twins & Co. Realty, Llc

Listing Agent's Description

Modern contemporary residence in Cheery Lynn historic district combines distinctive architecture + $150,000+ in high-end updates. Custom details include smooth stucco, durable metal roof + awnings, aluminum windows + storefront doors, vaulted ceilings & smooth walls with architectural reveals. Heart of the home is open kitchen with wood cabinetry, granite counters & S/S appliances. The living room has vaulted ceilings, fireplace & engineered hardwood floors. The family room features soaring ceilings & concrete floors. The luxurious owner's suite has vaulted ceiling, patio access & remodeled bath. Loft features office/den & bedroom. Stunning outdoor spaces include intimate courtyard for entertaining & spacious rear yard. Bonus 361 sq ft basement. New HVAC system in 2018.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cheery Lynn

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k347k

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

Neighborhood: Cheery Lynn

NeighborhoodNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500155016001650Rent in $9341661

* 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
Longview Elementary School Primary Alternative 627 33 2
Osborn Middle School Middle Alternative 565 30 5
North High School High Regular 2,616 128 5

Longview Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 33
2
GreatSchools Rating

Osborn Middle School

  • Education Level: Middle
  • # of students: 565
  • # of teachers: 30
5
GreatSchools Rating

North High School

  • Education Level: High
  • # of students: 2,616
  • # of teachers: 128
5
GreatSchools Rating
 

$467,910$571,890$519,900

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,918
Property Tax -$274
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$343

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.

$519,900

PROJECTED PRICE

$2,010

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.8%
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$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,524

INVESTMENT

$143,524

Down Payment
$129,975
Rehab Estimate
$5,750
Closing Costs
$7,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,918

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $129,975
Loan Amount $389,925
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$12,022

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
  • $2,179

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9993$2,0004$2,1505$2,250
$2,250
RENT COMPS ANALYSIS
  • 1541 E Cheery Lynn Road Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1942
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1353 E Whitton Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1950
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.23
    •  
  • 1115 E Whitton Avenue #1 Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1928
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.26
    •  
  • 1636 E Whitton Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1950
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.23
    •  
  • 1355 E Weldon Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1946
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.19
    •  
PROPERTY LISTING DETAILS
Jennifer L Hibbard
Twins & Co. Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176095
Last Updated: 01/02/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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