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16043 S 24th Place Phoenix, AZ 85048

3 Beds 3 Baths 2,151 sqft Built 1992

$550,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $255.70
  • 3 Days on Market
  • MLS # : 6172554
  • Updated Date : 01/02/2021 at 23:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,151 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Offer Company

Listing Agent's Description

TAKE IN THE VIEWS!! BEAUTIFUL 3 BEDROOM, 2.5 BATH, PLUS OFFICE CONVENIENTLY LOCATED IN THE HEART OF THE AHWATUKEE FOOTHILLS. OPEN FLOOR PLAN SHOWCASED WITH TONS OF NATURAL LIGHT IS PERFECT FOR ENTERTAINING! GROUND LEVEL MASTER BEDROOM, FULL MASTER BATH, LARGE WALK-IN CLOSET AND A PRIVATE EXIT TO RESORT STYLE BACKYARD. LARGE WINDOWS IN THE MASTER BEDROOM AND MAIN LIVING AREAS CAPITALIZE ON THE AMAZING NATURAL VIEWS. KITCHEN AND FAMILY ROOM FEED INTO BACKYARD OASIS EQUIPPED WITH BREATHTAKING VIEWS, SALT WATER PLAY POOL, LARGE BUILT IN SPA AND BEAUTIFUL FLAGSTONE/ SYNTHETIC GRASS LANDSCAPING. OVERSIZED COVERED PATIO AND RAMADAS CREATE PERFECT

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 Estrella Elementary School Primary Regular 440 27 8
Kyrene Akimel A-al Middle School Middle Regular 1,064 52 8
Desert Vista High School High Regular 3,037 130 8

Kyrene De La Estrella Elementary School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 27
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
 

$495,000$605,000$550,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$2,029
Property Tax -$392
Property Insurance -$69
HOA -$6
Property Management Fees -$99
CASH FLOW
-$505

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.

$550,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.38%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,160

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,855

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,8953$1,9504$2,0005$2,090
$2,090
RENT COMPS ANALYSIS
  • 16043 S 24th Place Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,151 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,151 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.97
    •  
  • 16640 S 25th Street Phoenix, AZ 1
    • 4 beds 2 baths ∙ 2,195 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,195 Sqft ∙ Built 1995
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
  • 2503 E Windsong Drive Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 1994
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
  • 16838 S 20th Place Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 1994
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 2119 E Nighthawk Way Phoenix, AZ 4
    • 3 beds 3 baths ∙ 2,236 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,236 Sqft ∙ Built 1994
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jim Geymont
The Offer Company
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172554
Last Updated: 01/02/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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