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PROPERTY INFO
FACTS
- Single Family
- Built In 1948
- Price/Sqft : $280.02
- 5 Days on Market
- MLS # : 6171300
- Updated Date : 12/19/2020 at 20:18
CONSTRUCTION
- Beds : 3
- Floor Size : 1,607 sqft
- Baths : 2 full
Listing Agent
Russ Lyon Sotheby's International Realty
Listing Agent's Description
Welcome home to this charming and highly desirable historic district of North Encanto. Excellent location within walking distance to various parks, golf courses, and schools. Upgrades include new sewer lines, front and backyard landscaping, updated bathrooms, kitchen, flooring, dual pane windows, roof upgrades, and more. The home features a spacious split floorpan; the master bedroom includes dual walk-in closets, barn door to the bathroom, trendy walk-in shower, and french doors that open to the backyard and covered patio. The backyard lives large with mature landscaping. The living room includes an authentic brick and wood burning fireplace for cozy evenings and time spent at home. Close to restaurants, shopping, hospitals, airport, and nearby freeways.
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PRICE & RENT TRENDS
Neighborhood: Truman Terrace
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Truman Terrace
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,490 |
| EXPENSES | Loan Payment | -$1,660 |
| Property Tax | -$237 | |
| Property Insurance | -$59 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$565
|
||
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.
$450,000
PROJECTED PRICE
$1,490
PROJECTED RENT
0.33%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.35% |
| Appreciation Year (1-5) | 4.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.24% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$125,000
LOAN DETAILS
$1,660
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $112,500 |
| Loan Amount | $337,500 |
0.5
YEARS SAVED
$802
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,490
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$1,611
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
-
1718 W Earll Drive Phoenix, AZ 1
- 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1948
- Rent
- Rent Per SQFT
- $1,490
- $0.93
-
1716 W Devonshire Avenue Avenue Phoenix, AZ 2
- 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 1949
LEASED 10/09/20- Rent
- Rent Per SQFT
- $1,550
- $0.92
-
1717 W Osborn Road Phoenix, AZ 3
- 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1945
LEASED 07/03/20- Rent
- Rent Per SQFT
- $1,675
- $1.05
-
2322 W Cheery Lynn Road Phoenix, AZ 4
- 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1954
LEASED 12/01/20- Rent
- Rent Per SQFT
- $1,725
- $1.04
-
1937 W Weldon Avenue Phoenix, AZ 5
- 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1950
LEASED 08/15/20- Rent
- Rent Per SQFT
- $1,800
- $1.00
PROPERTY LISTING DETAILS
Russ Lyon Sotheby's International Realty
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6171300
Last Updated: 12/19/2020
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.
