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18025 N 31st Drive Phoenix, AZ 85053

3 Beds 2 Baths 1,614 sqft Built 1979

$290,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $179.68
  • 8 Days on Market
  • MLS # : 6163847
  • Updated Date : 11/26/2020 at 19:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,614 sqft
  • Baths : 2 full
Listing Agent

Re/max Ascend Realty

Listing Agent's Description

Back on the market! Buyer did not qualify for loan! Wide open Floor Plan. Contemporary 30k Remodel just Completed including NEW ROOF, NOW 8k below Appraisal! 3bd,2ba Large Living & Family Room in this Home. Sparkling Fenced Lap Pool. Fresh interior two tone paint,4 1/2 inch white molding. All LED lighting. New fans Faucets, fixtures and lighting. Smart thermostat for Alexa and google. Eat-in kitchen with a built-in Breakfast Bar, New White shaker cabinets & Lazy Susan corner. White Subway Backsplash, Custom Epoxy Countertops, no Seams .New 9'' quality 16 Gage SS Kitchen Sink. All SS appliances. YOUR GONNA LOVE this LARGE open Laundry/Pantry Room with Tons of storage, New white shaker cabinets, large Custom Epoxy counter top no seams great for folding laundry, work space & doing crafts

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Union Hills Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $73k271k

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

Neighborhood: Union Hills Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8321567

* 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
Sunrise Elementary School Primary Regular 506 36 4
Desert Sky Middle School Middle Regular 642 28 6
Deer Valley High School High Regular 1,854 95 5

Sunrise Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 36
4
GreatSchools Rating

Desert Sky Middle School

  • Education Level: Middle
  • # of students: 642
  • # of teachers: 28
6
GreatSchools Rating

Deer Valley High School

  • Education Level: High
  • # of students: 1,854
  • # of teachers: 95
5
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$1,070
Property Tax -$174
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
-$111

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.

$290,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$11,596

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,290
$1,290
RENT COMPS ANALYSIS
  • 18025 N 31st Drive Phoenix, AZ
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.80
    •  
PROPERTY LISTING DETAILS
Skyann Dorsett
Re/max Ascend Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163847
Last Updated: 11/26/2020
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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