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16420 S 16th Lane Phoenix, AZ 85045

4 Beds 2 Baths 2,209 sqft Built 1998

$500,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $226.35
  • 4 Days on Market
  • MLS # : 6208805
  • Updated Date : 03/20/2021 at 21:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,209 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Biltmore Partners

Listing Agent's Description

Your home sweet home is here! Come take a look at this corner lot property! As you enter, you'll be greeted by a carpeted living room w/updated light fixtures, handsome tile floors, ceiling fans, & window blinds. Stunning eat-in kitchen w/ss appliances, pendant lighting, centered island w/granite counter-tops, tile backsplash, and plenty of wood cabinets. The master suite offers an en-suite w/glass step-in shower, dual sinks, mirrored closet, and soaking tub. This home also includes a fireplace in family room, designer paint, and laundry room. Enjoy incredible mountain views from this grassy backyard providing a covered patio, Ramada, and refreshing pool. Don't miss out on this incredible deal! Call right now!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Foothills Golf Club

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k459k

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

Neighborhood: Foothills Golf Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9342327

* 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
Kyrene De La Sierra School Primary Regular 613 33 10
Kyrene Altadena Middle School Middle Regular 1,065 52 9
Desert Vista High School High Regular 3,037 130 8

Kyrene De La Sierra School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 33
10
GreatSchools Rating

Kyrene Altadena Middle School

  • Education Level: Middle
  • # of students: 1,065
  • # of teachers: 52
9
GreatSchools Rating

Desert Vista High School

  • Education Level: High
  • # of students: 3,037
  • # of teachers: 130
8
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,737
Property Tax -$356
Property Insurance -$70
HOA -$6
Property Management Fees -$99
CASH FLOW
-$208

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.

$500,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.0%
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-$5.0k$0.0$5.0k$10k$15k

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$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$13,086

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
  • $2,154

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8503$2,1954$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 16420 S 16th Lane Phoenix, AZ 1
    • 4 beds 2 baths ∙ 2,209 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,209 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1692 W Satinwood Drive Phoenix, AZ 2
    • 4 beds 3 baths ∙ 1,977 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,977 Sqft ∙ Built 2007
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 16447 S 16th Avenue Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1998
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.96
    •  
  • 626 W Mountain Vista Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,323 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,323 Sqft ∙ Built 1993
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
  • 1347 W Deer Creek Road Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,280 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,280 Sqft ∙ Built 1997
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.01
    •  
PROPERTY LISTING DETAILS
Crysty Wullbrandt
Keller Williams Realty Biltmore Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6208805
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.

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