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1616 N Laurel Avenue Phoenix, AZ 85007

2 Beds 2 Baths 1,112 sqft Built 1941

$373,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1941
  • Price/Sqft : $335.43
  • 20 Days on Market
  • MLS # : 6147139
  • Updated Date : 10/29/2020 at 20:03
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,112 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Wow. This is a fantastic remodel in Fairview Place historic area. centrally located and walking distance from the state fair and Encanto Park. Features include all new low-E windows, new flooring throughout, new kitchen, new baths. large front and rear yards. This is a cozy home just waiting for its new owner. See it today, you'll fall in love with this home.

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
 

$335,700$410,300$373,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$1,376
Property Tax -$199
Property Insurance -$49
Property Management Fees -$99
CASH FLOW
-$483

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.

$373,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.33%

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$104,595

INVESTMENT

$104,595

Down Payment
$93,250
Rehab Estimate
$5,750
Closing Costs
$5,595

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,376

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,250
Loan Amount $279,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$404

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
  • $1,209

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$9003$9504$9505$995
$995
RENT COMPS ANALYSIS
  • 1616 N Laurel Avenue Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,112 Sqft ∙ Built 1941 2 beds 2 baths ∙ 1,112 Sqft ∙ Built 1941
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1920 W Flower Street #b Phoenix, AZ 2
    • 2 beds 1 baths ∙ 908 Sqft ∙ Built 1949 2 beds 1 baths ∙ 908 Sqft ∙ Built 1949
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.99
    •  
  • 2945 N 19th Avenue #66 Phoenix, AZ 3
    • 2 beds 1 baths ∙ 864 Sqft ∙ Built 1954 2 beds 1 baths ∙ 864 Sqft ∙ Built 1954
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $1.10
    •  
  • 1315 W Osborn Road Phoenix, AZ 4
    • 2 beds 1 baths ∙ 825 Sqft ∙ Built 1946 2 beds 1 baths ∙ 825 Sqft ∙ Built 1946
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $1.15
    •  
  • 1517 W Thomas Road #2 Phoenix, AZ 5
    • 2 beds 2 baths ∙ 900 Sqft ∙ Built 1960 2 beds 2 baths ∙ 900 Sqft ∙ Built 1960
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $1.11
    •  
PROPERTY LISTING DETAILS
Louis Migliore
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6147139
Last Updated: 10/29/2020
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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