Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1719 W Fairmount Avenue Phoenix, AZ 85015

4 Beds 2 Baths 1,889 sqft Built 1951

$373,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $197.46
  • 4 Days on Market
  • MLS # : 6180728
  • Updated Date : 01/16/2021 at 19:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,889 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Phoenix one-story home offers a patio. This home is vacant and cleaned regularly.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Long Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $84k271k

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

Neighborhood: Long Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8521567

* 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
Clarendon School Primary Regular 440 25 3
Osborn Middle School Middle Alternative 565 30 5
Central High School High Regular 2,251 136 3

Clarendon School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 25
3
GreatSchools Rating

Osborn Middle School

  • Education Level: Middle
  • # of students: 565
  • # of teachers: 30
5
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
GreatSchools Rating
 

$335,700$410,300$373,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,296
Property Tax -$199
Property Insurance -$64
Property Management Fees -$99
CASH FLOW
$3

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.

$373,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.45%

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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$104,595

INVESTMENT

$104,595

Down Payment
$93,250
Rehab Estimate
$5,750
Closing Costs
$5,595

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,296

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,250
Loan Amount $279,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$23,430

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,790

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,6953$1,8004$1,8255$1,965
$1,965
RENT COMPS ANALYSIS
  • 1719 W Fairmount Avenue Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,889 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,889 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.88
    •  
  • 1819 W Fairmount Avenue Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 1948 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 1948
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
  • 1937 W Weldon Avenue Phoenix, AZ 3
    • 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
    •  
  • 1817 W Earll Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 1951
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.97
    •  
  • 2239 W Earll Drive Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,996 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,996 Sqft ∙ Built 1954
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,965
    • $0.98
    •  
PROPERTY LISTING DETAILS
Lisa Soltesz
Opendoor Brokerage, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6180728
Last Updated: 01/16/2021
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.

BESbswy