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18 E Irvine Road Phoenix, AZ 85086

4 Beds 3 Baths 2,534 sqft Built 2003

$629,900

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $248.58
  • 3 Days on Market
  • MLS # : 6157377
  • Updated Date : 11/06/2020 at 15:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,534 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

Stunning home featuring gated front courtyard and 2 newer Carrier 17 seer AC gas furnaces with air purification systems. Remodeled kitchen opens to family room with wood beamed ceilings and cozy fireplace. Kitchen is updated with granite countertops, custom cabinets, SS appliances, farmhouse sink with apron and tile backsplash. Travertine flooring through-out entire house. Multiple rooms with private doors out back. Huge covered patio with paver extension and extended shade cover. Low voltage lighting in front and back on timers. Home offers a 15' power RV gate, built-in BBQ, mesquite, orange, lemon, lime and grapefruit trees. Plenty of room for your horses! This home is absolutely a Must See!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: New River

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k477k

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

Neighborhood: New River

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10452722

* 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
Desert Mountain School Primary Regular 695 42 7
Desert Mountain School Middle Regular 695 42 7
Boulder Creek High School High Regular 2,639 105 6

Desert Mountain School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
7
GreatSchools Rating

Desert Mountain School

  • Education Level: Middle
  • # of students: 695
  • # of teachers: 42
7
GreatSchools Rating

Boulder Creek High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 105
6
GreatSchools Rating
 

$566,910$692,890$629,900

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,324
Property Tax -$491
Property Insurance -$77
Property Management Fees -$99
CASH FLOW
-$500

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.

$629,900

PROJECTED PRICE

$2,490

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,674

INVESTMENT

$172,674

Down Payment
$157,475
Rehab Estimate
$5,750
Closing Costs
$9,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,475
Loan Amount $472,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,483

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,4903$2,5004$2,550
$2,550
RENT COMPS ANALYSIS
  • 18 E Irvine Road Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.98
    •  
  • 1682 W Ainsworth Drive Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,385 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,385 Sqft ∙ Built 2004
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.96
    •  
  • 1613 W Ainsworth Drive Phoenix, AZ 3
    • 3 beds 3 baths ∙ 2,546 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,546 Sqft ∙ Built 2004
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
  • 1625 W Ainsworth Drive Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2004
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.00
    •  
PROPERTY LISTING DETAILS
Bruno Arapovic
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157377
Last Updated: 11/06/2020
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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