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1715 W Orchid Lane Phoenix, AZ 85021

3 Beds 2 Baths 1,980 sqft Built 1971

INVESTimate

$439,000

List Price

$1,860

$1,674 - $2,046

Rent Est.

$464,638  ( +5.84%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $221.72
  • 3 Days on Market
  • MLS # : 6121753
  • Updated Date : 08/25/2020 at 15:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,980 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Realty Biltmore Partners

Listing Agent's Description

Large corner lot home with SALT WATER POOL in Sunnyslope High School District. Come take a look at this 3 bedroom, 2 bath home, just under 2000 sq ft with a huge Open Great Room concept. Home was updated in 2010 and the kitchen is amazing! There is an outdoor kitchen and a HOT TUB too! All tile, 2 car garage with cabinets and an extra long driveway, definitely worth the look.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Royal Oaks North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k368k

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

Neighborhood: Royal Oaks North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9342011

* 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
 

$395,100$482,900$439,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,620
Property Tax -$262
Property Insurance -$66
Property Management Fees -$99
CASH FLOW
-$186

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.

$439,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.84%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,085

INVESTMENT

$122,085

Down Payment
$109,750
Rehab Estimate
$5,750
Closing Costs
$6,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,750
Loan Amount $329,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$15,314

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
  • $1,901

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6003$1,8004$1,9505$1,995
$1,995
RENT COMPS ANALYSIS
  • 1715 W Orchid Lane Phoenix, 1
    • 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2332 W Diana Avenue Phoenix, 2
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1959
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 8622 N 18th Drive Phoenix, 3
    • 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1970
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 8121 N 16th Drive Phoenix, 4
    • 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 1969
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.05
    •  
  • 1566 W Lawrence Lane Phoenix, 5
    • 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 1959 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 1959
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.97
    •  
PROPERTY LISTING DETAILS
Laura D Leukhardt
Keller Williams Realty Biltmore Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121753
Last Updated: 08/25/2020
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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