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16426 S 2nd Avenue Phoenix, AZ 85045

3 Beds 3 Baths 2,742 sqft Built 1996

$649,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $236.69
  • 3 Days on Market
  • MLS # : 6193205
  • Updated Date : 02/13/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,742 sqft
  • Baths : 2 full , 1 half
Listing Agent

Better Homes & Gardens Real Estate Move Time Realty

Listing Agent's Description

Located in the wonderful neighbourhood of Ahwatukee, this absolutely gorgeous home will stun you as soon as you step inside. The huge picture window in the family room offers spectacular views of the pool and green space in the private back yard. The lovely hardwood floors continue into the den but the kitchen, halls and bathrooms are tiled. The den has beautiful wood double doors with frosted glass and the fireplace has a modern stone trimmed fireplace. The backyard is a show stopper with a built-in BBQ, sink, ice maker, refrigerator and smoker with sit up bar for guests. The large covered patio has blinds that automatically open and extend for more shade. The home is perfectly decorated, clean, well maintained and move in ready. Book an appointment to view quickly, it won't last long.

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
 

$584,100$713,900$649,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,254
Property Tax -$462
Property Insurance -$81
HOA -$34
Property Management Fees -$99
CASH FLOW
-$380

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.

$649,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.39%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,254

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$10,440

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,605

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,5503$2,6954$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 16426 S 2nd Avenue Phoenix, AZ 2
    • 3 beds 3 baths ∙ 2,742 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,742 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.93
    •  
  • 16844 S 1st Drive Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,487 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,487 Sqft ∙ Built 1996
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.03
    •  
  • 1576 W Saltsage Drive Phoenix, AZ 3
    • 4 beds 3 baths ∙ 3,004 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,004 Sqft ∙ Built 1998
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.90
    •  
  • 14828 S 5th Avenue Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 1999
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.94
    •  
  • 918 W Windsong Drive Phoenix, AZ 5
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 1997
    LEASED 02/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.93
    •  
PROPERTY LISTING DETAILS
Laurel M. Luzzi
Better Homes & Gardens Real Estate Move Time Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193205
Last Updated: 02/13/2021
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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