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1620 W Ironwood Drive Phoenix, AZ 85021

3 Beds 1 Baths 1,015 sqft Built 1957

$219,900

List Price

$1,030

$927 - $1.1K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $216.65
  • 4 Days on Market
  • MLS # : 6169785
  • Updated Date : 12/11/2020 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,015 sqft
  • Baths : 1 full
Listing Agent

Gentry Real Estate

Listing Agent's Description

NO HOA! Gorgeous, centrally located Phoenix home with TONS of upgrades, a newer roof and tile in all of the right places. This home has been updated with all new dual-paned windows, new countertops, new carpet, fixtures, fresh paint and much more! This house will go QUICK. Schedule a showing before it is gone! ** Awning in back yard conveys as-is. Can be removed if buyer does not want it **

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Wesley Terrace

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $70k271k

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

Neighborhood: Wesley Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7151567

* 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
Mountain View School Primary Regular 1,505 79 2
Sunnyslope High School High Regular 2,064 88 6

Mountain View School

  • Education Level: Primary
  • # of students: 1,505
  • # of teachers: 79
2
GreatSchools Rating

Sunnyslope High School

  • Education Level: High
  • # of students: 2,064
  • # of teachers: 88
6
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$927$1,133$1,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,030
EXPENSES Loan Payment -$811
Property Tax -$131
Property Insurance -$47
Property Management Fees -$99
CASH FLOW
-$59

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.

$219,900

PROJECTED PRICE

$1,030

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$10,993

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,030

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,053

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$849
1$8492$8503$8994$9255$1,030
$1,030
RENT COMPS ANALYSIS
  • 1620 W Ironwood Drive Phoenix, AZ 5
    • 3 beds 1 baths ∙ 1,015 Sqft ∙ Built 1957 3 beds 1 baths ∙ 1,015 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,030
    • $1.01
    •  
  • 1520 W Sahuaro Drive #a Phoenix, AZ 1
    • 3 beds 1 baths ∙ 850 Sqft ∙ Built 1958 3 beds 1 baths ∙ 850 Sqft ∙ Built 1958
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $849
    • $1.00
    •  
  • 1524 W Sahuaro Drive #b Phoenix, AZ 2
    • 3 beds 1 baths ∙ 850 Sqft ∙ Built 1958 3 beds 1 baths ∙ 850 Sqft ∙ Built 1958
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $1.00
    •  
  • 1524 W Sahuaro Drive #a Phoenix, AZ 3
    • 3 beds 1 baths ∙ 850 Sqft ∙ Built 1958 3 beds 1 baths ∙ 850 Sqft ∙ Built 1958
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $899
    • $1.06
    •  
  • 1520 W Sahuaro Drive #b Phoenix, AZ 4
    • 3 beds 1 baths ∙ 850 Sqft ∙ Built 1958 3 beds 1 baths ∙ 850 Sqft ∙ Built 1958
    property image
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $925
    • $1.09
    •  
PROPERTY LISTING DETAILS
Grant Smith
Gentry Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6169785
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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