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16641 S 2nd Place Phoenix, AZ 85048

3 Beds 2 Baths 1,907 sqft Built 1995

$434,796

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $228.00
  • 2 Days on Market
  • MLS # : 6170105
  • Updated Date : 12/12/2020 at 11:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,907 sqft
  • Baths : 2 full
Listing Agent

602 Commercial Real Estate

Listing Agent's Description

Totally remodeled stunner. Single story, nothings been left out. Entirely new kitchen with stainless Samsung & LG appliances, double ovens and range, all new bathrooms, the master bathroom is stunning with a free-standing oval tub, large walk-in shower. Roof tiles were just removed and 2 layers of 20-year roofing felt installed before replacing entire roof. Quartz throughout entire house with undermounted kitchen sink, upgraded faucets throughout. Stunning wood tile planking throughout, 6'' baseboards, plantation shutters throughout entire house.A/C unit serviced 2019 w/ duct and coil cleaning. Brand new 50-gallon water heater. New paint throughout, new windows, brand new Samsung washer & dryer. Private yard backs up to mountains and no overlook neighbors. This one won't last

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
 

$391,316$478,276$434,796

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,604
Property Tax -$310
Property Insurance -$64
HOA -$6
Property Management Fees -$99
CASH FLOW
-$13

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.

$434,796

PROJECTED PRICE

$2,070

PROJECTED RENT

0.48%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$120,971

INVESTMENT

$120,971

Down Payment
$108,699
Rehab Estimate
$5,750
Closing Costs
$6,522

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,604

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,699
Loan Amount $326,097
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$28,640

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,088

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9753$2,0704$2,1005$2,395
$2,395
RENT COMPS ANALYSIS
  • 16641 S 2nd Place Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.09
    •  
  • 726 E Glenhaven Drive Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,738 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,738 Sqft ∙ Built 1994
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.09
    •  
  • 1024 E Frye Road #1104 Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,968 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,968 Sqft ∙ Built 2001
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.00
    •  
  • 16814 S 2nd Place Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 1994
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.15
    •  
  • 407 E Glenhaven Drive Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,093 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,093 Sqft ∙ Built 1994
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.14
    •  
PROPERTY LISTING DETAILS
Alex Popovic
602 Commercial Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170105
Last Updated: 12/12/2020
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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