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1614 N 16th Avenue Phoenix, AZ 85007

3 Beds 2 Baths 1,705 sqft Built 1926

$530,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1926
  • Price/Sqft : $310.85
  • 3 Days on Market
  • MLS # : 6164976
  • Updated Date : 12/11/2020 at 09:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,705 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Welcome home to Downtown Phoenix, Arizona. This 1926 Spanish Revival home is located in the Fairview Place Historic District, and just a few blocks from Encanto Park. Boasting over 1,700 square feet, this modern touch of vintage charm has all the right finishes. Remodeled in 2018, with a new AC unit, hot water heater, charcoal water system, roof, and doors & windows throughout. The beautifully bright kitchen has a gas stove, stainless steel appliances, stainless farmhouse sink, quartz counters, and cabinets that soar to the ceiling. The extra large master bedroom has it's own private entry into the courtyard area. Double sinks in the master bath as well as a stand-up shower. Big laundry room, with extra storage area. Extended paver driveway, with gate and trailer parking in the rear

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fairview Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $84k358k

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

Neighborhood: Fairview Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8551981

* 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
 

$477,000$583,000$530,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,955
Property Tax -$283
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$418

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.

$530,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 10.9%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,200

INVESTMENT

$146,200

Down Payment
$132,500
Rehab Estimate
$5,750
Closing Costs
$7,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,955

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,500
Loan Amount $397,500
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$7,273

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
  • $1,995

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5953$1,6004$2,1005$2,495
$2,495
RENT COMPS ANALYSIS
  • 1614 N 16th Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 1926
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1904 W Holly Street Phoenix, AZ 2
    • 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 1930 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 1930
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.06
    •  
  • 722 W Portland Street Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1931
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.11
    •  
  • 1609 W Vernon Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1940
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.26
    •  
  • 2028 N 11th Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 1936 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 1936
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.25
    •  
PROPERTY LISTING DETAILS
Randy D Blachley, Jr
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164976
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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