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15440 N 23rd Drive Phoenix, AZ 85023

4 Beds 2 Baths 1,755 sqft Built 1973

$275,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $156.70
  • 6 Days on Market
  • MLS # : 6158589
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,755 sqft
  • Baths : 2 full
Listing Agent

Rimsza Realty

Listing Agent's Description

MOVE-IN READY NEW PAINT IN AND OUT ,NEW RANGE, DISHWASHER,MICOWAVE AND GRIANITE COUNTER TOPS AND UNDERMOUNT SINK AN FAUCET,NEW CARPTING ,NEW ROOF SHINGELSHUDG LOT WITH RV GATE UPDATED INSULATION ,STUCCO NO SIDING!!! AND DOUBLE-PAIN WINDOWS

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Ponderosa Homes North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Ponderosa Homes North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9041567

* 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
John Jacobs Elementary School Primary Regular 552 34 6
Mountain Sky Junior High School Middle Regular 741 35 7
Thunderbird High School High Regular 1,507 63 6

John Jacobs Elementary School

  • Education Level: Primary
  • # of students: 552
  • # of teachers: 34
6
GreatSchools Rating

Mountain Sky Junior High School

  • Education Level: Middle
  • # of students: 741
  • # of teachers: 35
7
GreatSchools Rating

Thunderbird High School

  • Education Level: High
  • # of students: 1,507
  • # of teachers: 63
6
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,015
Property Tax -$164
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
$131

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.

$275,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.4%
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$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$34,667

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,632

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4703$1,5454$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 15440 N 23rd Drive Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,755 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,755 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.84
    •  
  • 16029 N 25th Drive Phoenix, AZ 1
    • 4 beds 3 baths ∙ 1,584 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,584 Sqft ∙ Built 1974
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.88
    •  
  • 15033 N 30th Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1970
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.89
    •  
  • 16022 N 30th Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1982
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 16273 N 29th Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1979
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
PROPERTY LISTING DETAILS
Bill W Rimsza
Rimsza Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6158589
Last Updated: 11/13/2020
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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