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16041 S 7th Drive Phoenix, AZ 85045

4 Beds 3 Baths 2,850 sqft Built 1994

$585,000

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $205.26
  • 2 Days on Market
  • MLS # : 6182890
  • Updated Date : 01/30/2021 at 18:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,850 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Excalibur

Listing Agent's Description

Lovingly maintained single level home with beautiful views all around. Refreshing pebble-finish pool overlooks desert wash and hillside to the east. Covered patio extends the full width of the house for lots of afternoon shade., Split bedroom plan for maximum privacy for the whole family. Island kitchen open to the the family room complete with wet bar are ideal for entertaining a small group of family or friends or hosting a large party. Remember parties?! Dramatic vaulted ceilings, lots of windows and neutral colors throughout provide for a light and bright home. Plantation shutters on most windows are still the most luxurious window coverings and allow for maximum management of light and privacy. Remote controlled ceiling fans throughout. Must see in person to really appreciate!

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
 

$526,500$643,500$585,000

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$2,032
Property Tax -$421
Property Insurance -$83
HOA -$5
Property Management Fees -$99
CASH FLOW
$10

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.

$585,000

PROJECTED PRICE

$2,650

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$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,032

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$33,281

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,651

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6953$2,7504$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 16041 S 7th Drive Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.93
    •  
  • 1576 W Saltsage Drive Phoenix, AZ 2
    • 4 beds 3 baths ∙ 3,004 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,004 Sqft ∙ Built 1998
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.90
    •  
  • 14828 S 5th Avenue Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 1999
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.94
    •  
  • 918 W Windsong Drive Phoenix, AZ 4
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 1997
    LEASED 12/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.93
    •  
  • 16232 S 1st Avenue Phoenix, AZ 5
    • 4 beds 3 baths ∙ 3,152 Sqft ∙ Built 1995 4 beds 3 baths ∙ 3,152 Sqft ∙ Built 1995
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Julie Grahmann
Re/max Excalibur
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6182890
Last Updated: 01/30/2021
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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