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15858 S 40th Place Phoenix, AZ 85048

3 Beds 3 Baths 1,428 sqft Built 1986

$325,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $227.59
  • 3 Days on Market
  • MLS # : 6156041
  • Updated Date : 11/07/2020 at 22:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,428 sqft
  • Baths : 2 full , 1 half
Listing Agent

Conway Real Estate

Listing Agent's Description

**** SHOWINGS ONLY DURING OPEN HOUSE ON 11/7 10A-3P & 11/8 1130A-3P ( NO SHOWINGS PRIOR TO OPEN HOUSE) *** MASKS ARE REQUIRED ****This wonderful home located in the heart of Ahwatukee Featuring an open floor plan with 3 bed 2.5 bath filled with natural light., vaulted ceilings and eat-in kitchen, with plenty of entertaining space. This move in ready home has new carpet and fresh paint throughout. ** DO NOT MISS OUT ON THIS OPPORTUNITY- WILL NOT LAST LONG**

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cove at Mountainside

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Cove at Mountainside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Kyrene Del Milenio Primary Regular 661 37 8
Kyrene Akimel A-al Middle School Middle Regular 1,064 52 8
Desert Vista High School High Regular 3,037 130 8

Kyrene Del Milenio

  • Education Level: Primary
  • # of students: 661
  • # of teachers: 37
8
GreatSchools Rating

Kyrene Akimel A-al Middle School

  • Education Level: Middle
  • # of students: 1,064
  • # of teachers: 52
8
GreatSchools Rating

Desert Vista High School

  • Education Level: High
  • # of students: 3,037
  • # of teachers: 130
8
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,199
Property Tax -$231
Property Insurance -$55
HOA -$6
Property Management Fees -$99
CASH FLOW
-$60

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$325,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$16,868

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,631

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5253$1,5304$1,5505$1,750
$1,750
RENT COMPS ANALYSIS
  • 15858 S 40th Place Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,428 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,428 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.07
    •  
  • 3830 E Lakewood Parkway #2018 Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1995
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.15
    •  
  • 4106 E Silverwood Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1992
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.06
    •  
  • 3830 E Lakewood Parkway #1050 Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1995
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.23
    •  
  • 4301 E Silverwood Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,549 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,549 Sqft ∙ Built 1990
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.13
    •  
PROPERTY LISTING DETAILS
Heather K Hatch
Conway Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156041
Last Updated: 11/07/2020
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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