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16002 S 13th Way Phoenix, AZ 85048

5 Beds 3 Baths 3,002 sqft Built 1993

$595,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $198.20
  • 4 Days on Market
  • MLS # : 6189738
  • Updated Date : 02/05/2021 at 21:24
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,002 sqft
  • Baths : 3 full
Listing Agent

Realty One Group

Listing Agent's Description

Lovely home in the gated community of The Fairways at the Foothills w/ surrounding golf course & mountain views. Stunning entry w/ dramatic vaulted ceilings, huge picture windows & beautiful decorative trim. Spacious open floorplan w/ lots of natural light. You'll love the updated kitchen w/ custom stacked glass insert cabinets, new highly upgraded appliances, center island plus breakfast bar & granite counters. Updated bathrooms, new wood look laminate flooring, updated lighting & fixtures throughout. Downstairs offers a large bedroom w/ full bath, perfect for guests. Oversized master retreat, 3 additional secondary bedrooms + a small loft. Relax or entertain in your resort style backyard featuring heated pool & spa. Newer roof, new AC unit, this home is ready to just enjoy!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Foothills Golf Club

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k459k

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

Neighborhood: Foothills Golf Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9342327

* 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 De La Sierra School Primary Regular 613 33 10
Kyrene Altadena Middle School Middle Regular 1,065 52 9
Desert Vista High School High Regular 3,037 130 8

Kyrene De La Sierra School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 33
10
GreatSchools Rating

Kyrene Altadena Middle School

  • Education Level: Middle
  • # of students: 1,065
  • # of teachers: 52
9
GreatSchools Rating

Desert Vista High School

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

$535,500$654,500$595,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,067
Property Tax -$424
Property Insurance -$86
HOA -$13
Property Management Fees -$99
CASH FLOW
-$27

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.

$595,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.0%
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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,067

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$30,775

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,882

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,6603$2,8004$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 16002 S 13th Way Phoenix, AZ 2
    • 5 beds 3 baths ∙ 3,002 Sqft ∙ Built 1993 5 beds 3 baths ∙ 3,002 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.89
    •  
  • 15856 S 8th Street Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,914 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,914 Sqft ∙ Built 1996
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.88
    •  
  • 1655 E Saltsage Drive Phoenix, AZ 3
    • 5 beds 3 baths ∙ 2,900 Sqft ∙ Built 1992 5 beds 3 baths ∙ 2,900 Sqft ∙ Built 1992
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.97
    •  
  • 16006 S 13th Place Phoenix, AZ 4
    • 4 beds 3 baths ∙ 3,002 Sqft ∙ Built 1993 4 beds 3 baths ∙ 3,002 Sqft ∙ Built 1993
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.00
    •  
  • 15810 S 18th Street Phoenix, AZ 5
    • 5 beds 3 baths ∙ 3,034 Sqft ∙ Built 1989 5 beds 3 baths ∙ 3,034 Sqft ∙ Built 1989
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jason Crittenden
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189738
Last Updated: 02/05/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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