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1628 W Indian School Road Phoenix, AZ 85015

4 Beds 3 Baths 1,794 sqft Built 1951

$350,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1951
  • Price/Sqft : $195.09
  • 2 Days on Market
  • MLS # : 6157642
  • Updated Date : 11/07/2020 at 13:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,794 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

Incredible Phoenix home with detached guest house and great commercial potential! Waste and drain lines were just fully replaced, and both roof and AC are only 4-5 years old. Main house features 3 beds/2 baths PLUS a spacious den, an eat-in kitchen with SS appliances, a large great room with space for dining, tile flooring and ceiling fans throughout. Guest house is complete with kitchen, living area, bedroom and bathroom! Property also features plenty of parking, large garage space, storage sheds and a motorized gate for privacy. Fantastic central location just minutes from the I-17, 51, I-10 and US-60 freeways, and close to attractions like Encanto Park, downtown Phoenix, restaurants, retail and more! Don't miss out!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Encanto

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Encanto

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8161567

* 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
Clarendon School Primary Regular 440 25 3
Osborn Middle School Middle Alternative 565 30 5
Central High School High Regular 2,251 136 3

Clarendon School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 25
3
GreatSchools Rating

Osborn Middle School

  • Education Level: Middle
  • # of students: 565
  • # of teachers: 30
5
GreatSchools Rating

Central High School

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

$315,000$385,000$350,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,291
Property Tax -$184
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$147

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$350,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$13,789

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,664

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,4903$1,5504$1,6455$1,800
$1,800
RENT COMPS ANALYSIS
  • 1628 W Indian School Road Phoenix, AZ 2
    • 4 beds 3 baths ∙ 1,794 Sqft ∙ Built 1951 4 beds 3 baths ∙ 1,794 Sqft ∙ Built 1951
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.83
    •  
  • 4654 N 19th Avenue Phoenix, AZ 1
    • 4 beds 3 baths ∙ 1,680 Sqft ∙ Built 1967 4 beds 3 baths ∙ 1,680 Sqft ∙ Built 1967
    property image
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.88
    •  
  • 1716 W Devonshire Avenue Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 1949
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 1646 W Indian School Road Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,810 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,810 Sqft ∙ Built 1950
    property image
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.91
    •  
  • 1937 W Weldon Avenue Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1950
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
PROPERTY LISTING DETAILS
Annette Sharp
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157642
Last Updated: 11/07/2020
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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