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15844 N 23rd Lane Phoenix, AZ 85023

4 Beds 2 Baths 1,648 sqft Built 1974

$305,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $185.07
  • 7 Days on Market
  • MLS # : 6166019
  • Updated Date : 11/30/2020 at 15:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,648 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

Don't miss this two story beauty in Ponderosa Homes! This home has been refreshed with interior and exterior paint and new flooring throughout. Living/dining great room with a fireplace upon entry and a family room open to the kitchen. The kitchen features new cabinets, new granite countertops, and new stainless steel appliances. One bedroom and bathroom located on the main floor for added privacy. This bathroom has new granite countertops and new cabinets. Three additional bedrooms and a full bathroom located on the second floor. Large fenced backyard with a covered patio. Vacant and ready for viewing, come see!

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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,125
Property Tax -$182
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
-$66

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.

$305,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.46%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$16,821

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
  • $1,570

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3953$1,5504$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 15844 N 23rd Lane Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,648 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,648 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 16029 N 25th Drive Phoenix, AZ 2
    • 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
    •  
  • 16051 N 25th Drive Phoenix, AZ 3
    • 4 beds 3 baths ∙ 1,584 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,584 Sqft ∙ Built 1974
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 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
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6166019
Last Updated: 11/30/2020
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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