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16411 S 8th Way Phoenix, AZ 85048

5 Beds 4 Baths 2,927 sqft Built 2020

$735,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $251.11
  • 3 Days on Market
  • MLS # : 6178683
  • Updated Date : 01/09/2021 at 00:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,927 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homie

Listing Agent's Description

Brand NEW desert view home in the gated community of Palma Brisa. Desert view backyard with many upgrades throughout, including gourmet kitchen and wall of glass. Energy savings with upgraded AC and radiant barrier. Amazing Kyrene school district and across the street from very highly rated Kyrene de la Sierra Elementary school and YMCA. Quick access to loop 2002.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85048

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k375k

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

Zip Code: 85048

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$661,500$808,500$735,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$2,553
Property Tax -$523
Property Insurance -$84
HOA -$27
Property Management Fees -$99
CASH FLOW
-$1,016

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$735,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 3.00%
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

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$196,775

INVESTMENT

$196,775

Down Payment
$183,750
Rehab Estimate
$2,000
Closing Costs
$11,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,553

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $183,750
Loan Amount $551,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$86

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,254

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,270
$2,270
RENT COMPS ANALYSIS
  • 16411 S 8th Way Phoenix, AZ 2
    • 5 beds 4 baths ∙ 2,927 Sqft ∙ Built 2020 5 beds 4 baths ∙ 2,927 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.78
    •  
  • 1730 W Lacewood Place Phoenix, AZ 1
    • 5 beds 3 baths ∙ 2,904 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,904 Sqft ∙ Built 2016
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.77
    •  
PROPERTY LISTING DETAILS
Jennifer Hull
Homie
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178683
Last Updated: 01/09/2021
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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