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16619 S 35th Street Phoenix, AZ 85048

4 Beds 2 Baths 2,372 sqft Built 1986

$485,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $204.47
  • 5 Days on Market
  • MLS # : 6187681
  • Updated Date : 02/05/2021 at 05:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,372 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Immaculate single level home in the coveted community of Lakewood. Home features; 4 bedrooms, 2 updated bathrooms, 3 Car Garage & Pool! Home is located a short walk to lake access & has great curb appeal w/ large entry & patio. Inside you are drawn to the double sided wood burning fireplace that offers a timeless & cozy gathering place. The Kitchen features; custom staggered cabinets w/ glass front accents, tile backsplash, sub-zero fridge, wine cooler, & a large pantry w/ roll out shelving. Eat in nook offers views of your backyard/pool. Master Suite is Spacious & features a grand ensuite bathroom w/ large glass shower, dual sinks, custom cabinetry & walk in closet w/built ins to keep you ultra organized. Desirable Split floor plan offers additional bedrooms opposite of Master Suite.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Richmond Shores

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k459k

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

Neighborhood: Richmond Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9342032

* 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 Estrella Elementary School Primary Regular 440 27 8
Kyrene Akimel A-al Middle School Middle Regular 1,064 52 8
Desert Vista High School High Regular 3,037 130 8

Kyrene De La Estrella Elementary School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 27
8
GreatSchools Rating

Kyrene Akimel A-al Middle School

  • Education Level: Middle
  • # of students: 1,064
  • # of teachers: 52
8
GreatSchools Rating

Desert Vista High School

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

$436,500$533,500$485,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,685
Property Tax -$345
Property Insurance -$73
HOA -$6
Property Management Fees -$99
CASH FLOW
-$58

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.

$485,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.2%
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-$5.0k$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$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$22,338

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,330

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1503$2,2204$2,3755$2,395
$2,395
RENT COMPS ANALYSIS
  • 16619 S 35th Street Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,372 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,372 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.91
    •  
  • 16635 S 33rd Street Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,205 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,205 Sqft ∙ Built 1986
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.98
    •  
  • 3328 E Mountain Vista Drive Phoenix, AZ 3
    • 4 beds 2 baths ∙ 2,356 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,356 Sqft ∙ Built 1988
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.94
    •  
  • 3232 E Muirwood Drive Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 1995
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.95
    •  
  • 16226 S 37th Way Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 1988
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.06
    •  
PROPERTY LISTING DETAILS
Heather Justice
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187681
Last Updated: 02/05/2021
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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