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

$365,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $193.22
  • 3 Days on Market
  • MLS # : 6162963
  • Updated Date : 11/20/2020 at 12:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,889 sqft
  • Baths : 2 full
Listing Agent

Ridgeway Real Estate Investments

Listing Agent's Description

Don't miss out on this hard to find 4 bedroom 2 bathroom freshly updated home with hardwood floors and tile throughout the living and high traffic areas. Brand new block wall, lush landscaping, a ton of storage and space. Large great room addition perfect for entertaining. Wonderful central Phoenix home close to Encanto Park, Historic Districts, Melrose, shops, restaurants, I-17 and I-10. This is a must see, priced to sell!

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
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,347
Property Tax -$192
Property Insurance -$64
Property Management Fees -$99
CASH FLOW
-$22

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.

$365,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.46%

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

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$25,675

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,823

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,6503$1,6804$1,8005$1,965
$1,965
RENT COMPS ANALYSIS
  • 1719 W Fairmount Avenue Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,889 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,889 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.89
    •  
  • 1646 W Indian School Road Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,810 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,810 Sqft ∙ Built 1950
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.91
    •  
  • 3600 N 5th Avenue #203 Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1961
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 1937 W Weldon Avenue Phoenix, AZ 4
    • 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
    •  
  • 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
Matthew Broek
Ridgeway Real Estate Investments
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162963
Last Updated: 11/20/2020
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.

BESbswy