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1610 W Wilshire Drive Phoenix, AZ 85007

3 Beds 2 Baths 1,595 sqft Built 1941

$495,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1941
  • Price/Sqft : $310.34
  • 6 Days on Market
  • MLS # : 6168855
  • Updated Date : 12/11/2020 at 10:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,595 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Tucked away in Phoenix's Historic Encanto District, this unique 1940's home is updated with modern design. This home sits near the Encanto Golf Course and is just minutes away from all the entertainment, restaurants and nightlife located in downtown Phoenix. The grass front yard with the exposed brick highlight the home's curb appeal. This interior has 3 spacious bedrooms and 2 bathrooms with updated fixtures and finishes. The kitchen features a farmhouse sink, high end quartz counter tops LED lighting and stainless-steel appliances. A home this charming won't be on the market long.

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
Heard School Primary Regular 661 33 2
Heard School Middle Regular 661 33 2
Central High School High Regular 2,251 136 3

Heard School

  • Education Level: Primary
  • # of students: 661
  • # of teachers: 33
2
GreatSchools Rating

Heard School

  • Education Level: Middle
  • # of students: 661
  • # of teachers: 33
2
GreatSchools Rating

Central High School

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

$445,500$544,500$495,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,826
Property Tax -$264
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$378

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.

$495,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.38%

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-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$7,403

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
  • $1,723

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5753$1,5954$1,6755$2,000
$2,000
RENT COMPS ANALYSIS
  • 1610 W Wilshire Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1941
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 550 W Cambridge Avenue Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 1945 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 1945
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.12
    •  
  • 1904 W Holly Street Phoenix, AZ 3
    • 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 1930 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 1930
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.06
    •  
  • 1717 W Osborn Road Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1945
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.05
    •  
  • 2914 N 17th Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1947
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.09
    •  
PROPERTY LISTING DETAILS
Ricky Keith Craycraft
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6168855
Last Updated: 12/11/2020
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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