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1610 W Wilshire Drive Phoenix, AZ 85007

3 Beds 2 Baths 1,595 sqft Built 1941

$500,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1941
  • Price/Sqft : $313.48
  • 3 Days on Market
  • MLS # : 6190626
  • Updated Date : 02/07/2021 at 01:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,595 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

This Historic Home in Del Norte Place is not to be missed! Minutes away from Downtown Phoenix and a quick walk away from Encanto Park, you will love life in Central Phoenix. Updated in 2017, this home features 10 ft ceilings, woodburning fireplace, and beautiful modern kitchen.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Del Norte Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k414k

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

Neighborhood: Del Norte Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Central High School High Regular 2,251 136 3
Phoenix Coding Academy High Unknown NA
Phoenix Coding Academy High Regular NA

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,737
Property Tax -$267
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$481

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.

$500,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 9.5%
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-$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,304

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,751

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6753$1,6804$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 1610 W Wilshire Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1941
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.05
    •  
  • 550 W Cambridge Avenue Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 1945 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 1945
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.12
    •  
  • 1717 W Osborn Road Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1945
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.05
    •  
  • 2914 N 17th Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1947
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.09
    •  
  • 2928 N 18th Avenue Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 1951 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 1951
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.13
    •  
PROPERTY LISTING DETAILS
Steve Valentine
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190626
Last Updated: 02/07/2021
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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