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15620 N 18th Street Phoenix, AZ 85022

4 Beds 3 Baths 2,771 sqft Built 1997

$645,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $232.77
  • 4 Days on Market
  • MLS # : 6164541
  • Updated Date : 01/10/2021 at 03:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,771 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Beautiful Lookout Mountain Views as you drive to this expansively remodeled 4 bedroom, 2.5 bath, home! It has a split floor plan, gorgeous tile, pool and so close to everywhere you want to be! In this award-winning remodel, the kitchen boasts stainless steel appliances, quartz counters & luxurious cabinets. Put your culinary skills to work with plenty of space to create delicious meals for friends & family! Kitchen opens to the unique family room which is great for entertaining. Large owner's suite has a beautiful bathroom and large walk-in closet. Soak up the Arizona sun in the fabulous backyard with travertine, new built-in spa, sparkling pool great for relaxing, entertaining or a stellar sunset! Great mountainside location, close to shopping, restaurants, hiking and the 51!! NO HOA!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sunset Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k450k

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

Neighborhood: Sunset Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342144

* 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
Aire Libre Elementary School Primary Regular 378 28 4
Aire Libre Elementary School Middle Regular 378 28 4
North Canyon High School High Regular 1,957 86 4

Aire Libre Elementary School

  • Education Level: Primary
  • # of students: 378
  • # of teachers: 28
4
GreatSchools Rating

Aire Libre Elementary School

  • Education Level: Middle
  • # of students: 378
  • # of teachers: 28
4
GreatSchools Rating

North Canyon High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 86
4
GreatSchools Rating
 

$580,500$709,500$645,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$2,240
Property Tax -$406
Property Insurance -$81
Property Management Fees -$99
CASH FLOW
-$327

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.

$645,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 3.6%
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$20k

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$176,675

INVESTMENT

$176,675

Down Payment
$161,250
Rehab Estimate
$5,750
Closing Costs
$9,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,240

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $161,250
Loan Amount $483,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$15,478

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,487

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,5004$2,5955$2,700
$2,700
RENT COMPS ANALYSIS
  • 15620 N 18th Street Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,771 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,771 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
  • 1946 E Betty Elyse Lane Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,499 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,499 Sqft ∙ Built 1984
    LEASED 10/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.92
    •  
  • 15823 N 17th Way Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1993
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.89
    •  
  • 801 E Waltann Lane Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,885 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,885 Sqft ∙ Built 1980
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.90
    •  
  • 14241 N 14th Street Phoenix, AZ 5
    • 4 beds 3 baths ∙ 3,079 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,079 Sqft ∙ Built 1994
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.88
    •  
PROPERTY LISTING DETAILS
Kim Panozzo
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164541
Last Updated: 01/10/2021
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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