Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1642 E Desert Lane Phoenix, AZ 85042

3 Beds 2 Baths 1,962 sqft Built 2000

$345,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $175.84
  • 2 Days on Market
  • MLS # : 6208072
  • Updated Date : 03/20/2021 at 18:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,962 sqft
  • Baths : 2 full
Listing Agent

Century 21 Arizona Foothills

Listing Agent's Description

Welcome Home! Come and be greeted by this spacious and open floor plan that has been well maintained. Enjoy watching the sun rise and set over South Mountain from your private office. Outdoor activities abound with South Mountain Park and Highline Canal Trails nearby. Easy freeway access, many restaurants, stores and other amenities surround this location. Great home for entertaining with low maintenance landscaping in both front and back yards. Relax on the back patio.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Vista Portica

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Vista Portica

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8671981

* 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
South Mountain High School High Regular 1,706 102 2
Phoenix Coding Academy High Regular NA
Phoenix Coding Academy High Unknown NA

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,198
Property Tax -$224
Property Insurance -$65
HOA -$12
Property Management Fees -$99
CASH FLOW
$261

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.

$345,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.2%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$44,710

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,119

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,860
1$1,8602$1,8953$2,0004$2,0005$2,295
$2,295
RENT COMPS ANALYSIS
  • 1642 E Desert Lane Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.95
    •  
  • 1432 E Branham Lane Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 2006
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.05
    •  
  • 2126 E Fawn Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 2000
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.08
    •  
  • 1514 E Gary Way Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2005
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.05
    •  
  • 1526 E Desert Lane Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 2001
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.14
    •  
PROPERTY LISTING DETAILS
Monica Madden
Century 21 Arizona Foothills
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6208072
Last Updated: 03/20/2021
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.

BESbswy