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17032 N 16th Drive #6 Phoenix, AZ 85023

2 Beds 2 Baths 1,080 sqft Built 1984

$172,500

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $159.72
  • 5 Days on Market
  • MLS # : 6152773
  • Updated Date : 10/31/2020 at 13:49
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,080 sqft
  • Baths : 1 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

Looking for an adorable 2 bedroom, 2 full bath townhome in North Phoenix for an affordable price? Look no further! One of the larger floor plans in this subdivision with Granite countertops, stunning bathrooms, newer wood laminate floor, new paint, Large bedrooms, an backyard patio for entertaining! Not to mention the Brand NEW AC (2.5 ton convertible 14 SEER, 11.5EER rating!), dishwasher, washer/dryer and microwave... Call to schedule your private tour as this will one won't last long in this sizzling hot market!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Persian Gardens

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260kPrice in $56k271k

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

Neighborhood: Persian Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6711567

* 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
Constitution Elementary School Primary Regular 680 44 4
Deer Valley Middle School Middle Regular 616 31 5
Barry Goldwater High School High Regular 1,856 88 4

Constitution Elementary School

  • Education Level: Primary
  • # of students: 680
  • # of teachers: 44
4
GreatSchools Rating

Deer Valley Middle School

  • Education Level: Middle
  • # of students: 616
  • # of teachers: 31
5
GreatSchools Rating

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$155,250$189,750$172,500

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$636
Property Tax -$103
Property Insurance -$48
HOA -$220
Property Management Fees -$99
CASH FLOW
-$17

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.

$172,500

PROJECTED PRICE

$1,090

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$51,463

INVESTMENT

$51,463

Down Payment
$43,125
Rehab Estimate
$5,750
Closing Costs
$2,588

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$636

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,125
Loan Amount $129,375
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$8,201

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
  • $1,274

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1003$1,1754$1,2505$1,250
$1,250
RENT COMPS ANALYSIS
  • 17032 N 16th Drive #6 Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,080 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,080 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1734 W Michigan Avenue Phoenix, AZ 2
    • 2 beds 2 baths ∙ 945 Sqft ∙ Built 1973 2 beds 2 baths ∙ 945 Sqft ∙ Built 1973
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.16
    •  
  • 17228 N 16th Drive #4 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 980 Sqft ∙ Built 1982 2 beds 2 baths ∙ 980 Sqft ∙ Built 1982
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $1.20
    •  
  • 17202 N 16th Drive #9 Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,080 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,080 Sqft ∙ Built 1999
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.16
    •  
  • 902 W Michigan Avenue Phoenix, AZ 5
    • 2 beds 1 baths ∙ 1,040 Sqft ∙ Built 1980 2 beds 1 baths ∙ 1,040 Sqft ∙ Built 1980
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.20
    •  
PROPERTY LISTING DETAILS
Courtney M Torres-dorr
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152773
Last Updated: 10/31/2020
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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