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17 E Loma Lane Phoenix, AZ 85020

2 Beds 2 Baths 1,116 sqft Built 1975

$285,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $255.38
  • 4 Days on Market
  • MLS # : 6167177
  • Updated Date : 12/03/2020 at 12:43
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,116 sqft
  • Baths : 1 full , 1 half
Listing Agent

Realty Executives

Listing Agent's Description

Fantastic North Central corridor location on Murphy Bridle Path. This cozy 2 bedroom 2 bathroom townhouse features vaulted ceilings in the bedroom and living room with a bonus loft/office space. Great for remote workers! The property includes secure patio spaces in both the front and back. This is the last unit on the row and is directly accross from the community pool and heated spa. Great restaurants/bars, grocery shopping and freeways nearby. Canal and recreation bike path just up the bridle path from the property.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $88k271k

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

Neighborhood: North Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8821567

* 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
Richard E. Miller Elementary School Primary Regular 569 26 4
Royal Palm Middle School Middle Regular 725 41 3
Sunnyslope High School High Regular 2,064 88 6

Richard E. Miller Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 26
4
GreatSchools Rating

Royal Palm Middle School

  • Education Level: Middle
  • # of students: 725
  • # of teachers: 41
3
GreatSchools Rating

Sunnyslope High School

  • Education Level: High
  • # of students: 2,064
  • # of teachers: 88
6
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,052
Property Tax -$170
Property Insurance -$49
HOA -$245
Property Management Fees -$99
CASH FLOW
-$275

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.

$285,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,545

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
  • $1,487

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3003$1,3504$1,3755$1,500
$1,500
RENT COMPS ANALYSIS
  • 17 E Loma Lane Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 1975 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 750 E Northern Avenue #1119 Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,013 Sqft ∙ Built 1992 2 beds 2 baths ∙ 1,013 Sqft ∙ Built 1992
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.28
    •  
  • 750 E Northern Avenue #1020 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,022 Sqft ∙ Built 1992 2 beds 2 baths ∙ 1,022 Sqft ∙ Built 1992
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.32
    •  
  • 750 E Northern Avenue #1158 Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,022 Sqft ∙ Built 1992 2 beds 2 baths ∙ 1,022 Sqft ∙ Built 1992
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.35
    •  
  • 8241 N Central Avenue #27 Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,088 Sqft ∙ Built 1969 2 beds 2 baths ∙ 1,088 Sqft ∙ Built 1969
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.38
    •  
PROPERTY LISTING DETAILS
George Saiki
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167177
Last Updated: 12/03/2020
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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