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16418 N 28th Street Phoenix, AZ 85032

3 Beds 2 Baths 1,518 sqft Built 2010

$357,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $235.18
  • 2 Days on Market
  • MLS # : 6200206
  • Updated Date : 02/27/2021 at 17:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,518 sqft
  • Baths : 1 full , 1 half
Listing Agent

1st Dream Realty

Listing Agent's Description

This beautifully remodeled 3 bed 1.75 bath home has a 2 car garage, plenty of parking, and NO HOA! Nice open floor plan with quaint eat-in kitchen, breakfast bar, great room, & inside laundry. Home features new interior paint, new modern wood plank tile throughout living areas, new carpet in bedrooms, & updated ceiling fans in all rooms. Completely remodeled kitchen includes quartz countertops and tile backsplash, single basin under-mount sink, sleek white cabinets/dark hardware, & newer SS appliances! Recessed LED lighting in kitchen, great room (dimmable!), hallway, and master bed. Gorgeous contemporary baths feature subway tile, new vanities, tub, & commodes. Spacious backyard has covered patio, block fencing, & easy-care landscaping. Immaculate & move in ready home! Thanks for showing!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Paradise Valley Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Paradise Valley Village

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
Palomino Primary School Primary Regular 802 43 1
Greenway Middle School Middle Regular 518 26 2
North Canyon High School High Regular 1,957 86 4

Palomino Primary School

  • Education Level: Primary
  • # of students: 802
  • # of teachers: 43
1
GreatSchools Rating

Greenway Middle School

  • Education Level: Middle
  • # of students: 518
  • # of teachers: 26
2
GreatSchools Rating

North Canyon High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 86
4
GreatSchools Rating
 

$321,300$392,700$357,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,240
Property Tax -$225
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$121

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.

$357,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.5%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$100,355

INVESTMENT

$100,355

Down Payment
$89,250
Rehab Estimate
$5,750
Closing Costs
$5,355

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,240

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,250
Loan Amount $267,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,436

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,704

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5003$1,5864$1,6995$1,750
$1,750
RENT COMPS ANALYSIS
  • 16418 N 28th Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3010 E Kings Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 2005
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.13
    •  
  • 3039 E Kings Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 2004
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,586
    • $1.10
    •  
  • 2645 E Wallace Avenue Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 2015
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.20
    •  
  • 2756 E Schiliro Circle Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 2003
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
PROPERTY LISTING DETAILS
Eric Chavez
1st Dream Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6200206
Last Updated: 02/27/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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