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16428 N 7th Place Phoenix, AZ 85022

3 Beds 3 Baths 2,291 sqft Built 1989

$415,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $181.14
  • 2 Days on Market
  • MLS # : 6171377
  • Updated Date : 12/26/2020 at 15:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,291 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

Owned Solar equipment for Energy Savings! Beautifully Remodeled North Phoenix Home in the desirable Paradise Valley School District. Proximity to the 101 & I17 Freeways place this home minutes from anywhere in the valley. Front Courtyard with Custom Gates. Kitchen features Double Wall Ovens, Granite Countertops with backsplash, Newer Cabinets, Walk-In Pantry. Roof replaced in 2015. Trane A/C (heat pump) replaced in 2015. Water heater replaced in 2016. Garage would make an ideal workshop or for a car enthusiast / handyman -- Garage features an Insulated Garage Door, its own Evaporative Cooler, Deep Utility Sink & Separate side entrance. Backyard is well suited for entertaining, with a Covered Patio, Lush Green Grass & Trees on a Large Corner Lot.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Greentrails

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Greentrails

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
Aire Libre Elementary School Primary Regular 378 28 4
Aire Libre Elementary School Middle Regular 378 28 4
North Canyon High School High Regular 1,957 86 4

Aire Libre Elementary School

  • Education Level: Primary
  • # of students: 378
  • # of teachers: 28
4
GreatSchools Rating

Aire Libre Elementary School

  • Education Level: Middle
  • # of students: 378
  • # of teachers: 28
4
GreatSchools Rating

North Canyon High School

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

$373,500$456,500$415,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,531
Property Tax -$261
Property Insurance -$72
HOA -$33
Property Management Fees -$99
CASH FLOW
$104

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.

$415,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.51%

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$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$38,924

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
  • $2,119

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9953$2,0004$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 16428 N 7th Place Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,291 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,291 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 17615 N 6th Place Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,411 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,411 Sqft ∙ Built 1979
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
  • 911 E Sandra Terrace Phoenix, AZ 3
    • 4 beds 2 baths ∙ 2,183 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,183 Sqft ∙ Built 1989
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.92
    •  
  • 240 E Muriel Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 1980
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
  • 1230 E Saint John Road Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 1994
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
PROPERTY LISTING DETAILS
Michael Smith
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6171377
Last Updated: 12/26/2020
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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