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1601 W Hononegh Drive Phoenix, AZ 85027

3 Beds 2 Baths 1,728 sqft Built 1983

$315,550

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $182.61
  • 4 Days on Market
  • MLS # : 6162416
  • Updated Date : 11/19/2020 at 12:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,728 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

This beautiful north Phoenix home will not disappoint nor will be here long. The home is a 3 bedroom, 2 bath, slump block construction, with a 2 car garage. The home has been updated with a stunning kitchen with hard wood counter tops, free floating shelves, new cabinets, and stainless steel appliances. The flooring is polished and stained concrete, new paint, HUGE Arizona room, and plenty of space for a growing family or to host. Please give me a call with any questions or a private showing

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Deer Valley

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Deer Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8411567

* 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
Esperanza Elementary School Primary Regular 566 40 5
Deer Valley Middle School Middle Regular 616 31 5
Barry Goldwater High School High Regular 1,856 88 4

Esperanza Elementary School

  • Education Level: Primary
  • # of students: 566
  • # of teachers: 40
5
GreatSchools Rating

Deer Valley Middle School

  • Education Level: Middle
  • # of students: 616
  • # of teachers: 31
5
GreatSchools Rating

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$283,995$347,105$315,550

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,164
Property Tax -$189
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
-$3

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.

$315,550

PROJECTED PRICE

$1,510

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.8%
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$16k

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$89,371

INVESTMENT

$89,371

Down Payment
$78,888
Rehab Estimate
$5,750
Closing Costs
$4,733

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,888
Loan Amount $236,663
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$23,381

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,693

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5104$1,6255$1,695
$1,695
RENT COMPS ANALYSIS
  • 1601 W Hononegh Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.87
    •  
  • 1626 W Beaubien Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1980
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 1461 W Montoya Lane Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1982
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 19878 N 17th Lane Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1975
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.03
    •  
  • 1326 W Escuda Road Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,766 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,766 Sqft ∙ Built 1997
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
PROPERTY LISTING DETAILS
Weston Lee Gibson
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162416
Last Updated: 11/19/2020
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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