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1637 N 72nd Lane Phoenix, AZ 85035

3 Beds 1 Baths 1,113 sqft Built 1975

$240,000

List Price

$920

$828 - $1K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $215.63
  • 3 Days on Market
  • MLS # : 6166523
  • Updated Date : 12/04/2020 at 15:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,113 sqft
  • Baths : 1 full
Listing Agent

World Class Properties

Listing Agent's Description

Beautifully updated 3 bedroom 1 bath home in Phoenix. Open floor plan with tile throughout and a sky light. Updated kitchen counter top, fresh paint inside and out and updated lighting. Enjoy the large backyard and RV gate to store all of your toys. The home includes a Tesla Solar system as a bonus to keep your electric bills low. Close to shopping and major freeways.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k271k

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

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6831567

* 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
Peralta Elementary School Primary Regular 928 41 2
Marc T. Atkinson Middle School Middle Regular 1,376 65 3
Trevor Browne High School High Regular 3,077 144 3

Peralta Elementary School

  • Education Level: Primary
  • # of students: 928
  • # of teachers: 41
2
GreatSchools Rating

Marc T. Atkinson Middle School

  • Education Level: Middle
  • # of students: 1,376
  • # of teachers: 65
3
GreatSchools Rating

Trevor Browne High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 144
3
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$828$1,012$920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $920
EXPENSES Loan Payment -$886
Property Tax -$145
Property Insurance -$49
Property Management Fees -$99
CASH FLOW
-$258

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.

$240,000

PROJECTED PRICE

$920

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 13.8%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,329

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $920

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,057

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$920
1$9202$1,1953$1,1994$1,2005$1,375
$1,375
RENT COMPS ANALYSIS
  • 1637 N 72nd Lane Phoenix, AZ 1
    • 3 beds 1 baths ∙ 1,113 Sqft ∙ Built 1975 3 beds 1 baths ∙ 1,113 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $920
    • $0.83
    •  
  • 2525 N 72nd Avenue Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,365 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,365 Sqft ∙ Built 1973
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.88
    •  
  • 1835 N 64th Lane Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1972
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $0.97
    •  
  • 7337 W Encanto Boulevard Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1975
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.97
    •  
  • 6815 W Verde Lane Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1983
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.98
    •  
PROPERTY LISTING DETAILS
David G Farias
World Class Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6166523
Last Updated: 12/04/2020
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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