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16024 N 33rd Avenue Phoenix, AZ 85053

4 Beds 3 Baths 2,450 sqft Built 1979

$379,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $154.69
  • 8 Days on Market
  • MLS # : 6152404
  • Updated Date : 10/26/2020 at 23:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,450 sqft
  • Baths : 3 full
Listing Agent

Realty Usa Southwest

Listing Agent's Description

What more could you want? 4 bedrooms plus bonus loft room with a full closet and attic crawl space, 3 bathrooms, pebble-tech diving pool, therapeutic jacuzzi, RV gate and parking for multiple toys, NO HOA, both a/c and evap, newer kitchen, Silestone countertops, fans, paint, etc. Natural desert front and mature citrus trees in the back. Next to Conocido Park greenbelt. Take a look because this won't last... Owner/agent

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rancho Encanto

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k275k

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

Neighborhood: Rancho Encanto

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
Ironwood Elementary School Primary Regular 529 27 5
Desert Foothills Junior High School Middle Regular 660 32 6
Greenway High School High Regular 1,474 68 7

Ironwood Elementary School

  • Education Level: Primary
  • # of students: 529
  • # of teachers: 27
5
GreatSchools Rating

Desert Foothills Junior High School

  • Education Level: Middle
  • # of students: 660
  • # of teachers: 32
6
GreatSchools Rating

Greenway High School

  • Education Level: High
  • # of students: 1,474
  • # of teachers: 68
7
GreatSchools Rating
 

$341,100$416,900$379,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,398
Property Tax -$226
Property Insurance -$75
Property Management Fees -$99
CASH FLOW
-$18

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.

$379,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$26,566

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
  • $1,805

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5753$1,5994$1,695
$1,695
RENT COMPS ANALYSIS
  • 16024 N 33rd Avenue Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 13835 N 34th Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 2,135 Sqft ∙ Built 1969 3 beds 2 baths ∙ 2,135 Sqft ∙ Built 1969
    LEASED 08/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.74
    •  
  • 2425 W Anderson Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 2,205 Sqft ∙ Built 1959 3 beds 2 baths ∙ 2,205 Sqft ∙ Built 1959
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.73
    •  
  • 15424 N 31st Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,283 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,283 Sqft ∙ Built 1979
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
PROPERTY LISTING DETAILS
Kimberly Tolway
Realty Usa Southwest
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152404
Last Updated: 10/26/2020
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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