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16634 N 22nd Street Phoenix, AZ 85022

3 Beds 2 Baths 1,534 sqft Built 1996

$359,900

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $234.62
  • 5 Days on Market
  • MLS # : 6156157
  • Updated Date : 11/04/2020 at 16:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,534 sqft
  • Baths : 2 full
Listing Agent

Irent4you, Inc

Listing Agent's Description

A MUST SEE BEAUTIFUL 3 BEDROOM WITH MOUNTAIN VIEWS. YOUR FRONT DOOR OPENS TO A GREAT ROOM WITH VAULTED CEILING, GREAT FOR ENTERTAINING WITH OPEN FLOOR PLAN FROM LIVING ROOM TO KITCHEN WITH DINNING AREA. EAT IN KITCHEN WITH NEW GRANITE COUNTER TOPS AND S/S APPLIANCES. MASSIVE MASTER BEDROOM WITH LARGE ON--SUITE BATH WITH DOUBLE SINKS, SEPARATE SHOWER/TUB AND WALK IN CLOSET. NICELY LANDSCAPED FRONT AND BACKYARD WITH POOL AND COVERED PATIO. ENTIRE HOUSE WITH NEW CARPET AND FRESHLY PAINTED. PARK AREA ONLY 1/2 BLOCK DOWN THE STREET

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dave Brown Bell Road

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Dave Brown Bell Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,328
Property Tax -$227
Property Insurance -$57
HOA -$12
Property Management Fees -$99
CASH FLOW
-$292

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$359,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$5,291

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,519

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,4503$1,5454$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 16634 N 22nd Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.93
    •  
  • 17150 N 23rd Street #147 Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,468 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,468 Sqft ∙ Built 2007
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.99
    •  
  • 17223 N Cave Creek Road #18 Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,565 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,565 Sqft ∙ Built 2008
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.99
    •  
  • 2302 E Edna Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1996
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 1913 E Aire Libre Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1994
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.02
    •  
PROPERTY LISTING DETAILS
Joanna Janger
Irent4you, Inc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156157
Last Updated: 11/04/2020
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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