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1624 E Mclellan Boulevard Phoenix, AZ 85016

4 Beds 2 Baths 1,900 sqft Built 1956

$649,900

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $342.05
  • 5 Days on Market
  • MLS # : 6174083
  • Updated Date : 12/23/2020 at 10:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,900 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Location! Location! Location! This gorgeous 4 bedroom home has a great central location near the Phoenix Mountain Preserve with tons of hiking trails and just minutes from the Biltmore shopping, dining and entertainment and convenient access to major freeways! Situated on a large lot with well maintained landscaping, RV gate and charming curb appeal. brand new wood-look tile throughout the home with updated recessed lighting, a modern fireplace with a retro design and a luxury kitchen with quartz countertops, antique appliances, large island with breakfast bar seating, and beautiful unique green cabinetry! The master suite is sizable and offers tons of natural light, custom subway tiled shower, private access to the backyard and space for a huge closet or possible nursery or home office.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Madison Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k385k

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

Neighborhood: Madison Manor

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
Madison Heights Elementary School Primary Regular 538 30 8
Madison 1 Middle School Middle Regular 923 50 7
North High School High Regular 2,616 128 5

Madison Heights Elementary School

  • Education Level: Primary
  • # of students: 538
  • # of teachers: 30
8
GreatSchools Rating

Madison 1 Middle School

  • Education Level: Middle
  • # of students: 923
  • # of teachers: 50
7
GreatSchools Rating

North High School

  • Education Level: High
  • # of students: 2,616
  • # of teachers: 128
5
GreatSchools Rating
 

$584,910$714,890$649,900

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$2,398
Property Tax -$467
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
-$857

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.

$649,900

PROJECTED PRICE

$2,170

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.7%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$348

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,265

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1703$2,2004$2,2505$2,350
$2,350
RENT COMPS ANALYSIS
  • 1624 E Mclellan Boulevard Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $1.17
    •  
  • 5739 N 16th Street Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,865 Sqft ∙ Built 1948 4 beds 2 baths ∙ 1,865 Sqft ∙ Built 1948
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.13
    •  
  • 1619 E Maryland Avenue Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,793 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,793 Sqft ∙ Built 1964
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.23
    •  
  • 1930 E Solano Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1952
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.25
    •  
  • 1216 E Escondido Drive Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,835 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,835 Sqft ∙ Built 1970
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.28
    •  
PROPERTY LISTING DETAILS
George Laughton
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174083
Last Updated: 12/23/2020
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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