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1817 E Monterey Way Phoenix, AZ 85016

3 Beds 2 Baths 1,327 sqft Built 1952

$355,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $267.52
  • 2 Days on Market
  • MLS # : 6210189
  • Updated Date : 03/20/2021 at 22:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,327 sqft
  • Baths : 2 full
Listing Agent

Service Star Realty

Listing Agent's Description

This adorable 3BR 2 BA home has been tastefully updated along with great new landscaping a shaded front yard sitting porch, all making for beautiful curb appeal. Inside you will find brand-new carpeting (3/21), cool tile floors in all living spaces, and fresh two-tone paint. The kitchen has matching appliances, new sink and new lighting (3/21) and a GAS STOVE! The master bedroom has an en-suite bathroom and walk in closet. Back yard is large with Storage Shack and a big-enough, concrete floor workshop. Did I mention the large RV Gate with alley access? All of this close to the 51 and great shopping and restaurants! All offers will be reviewed Monday.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Urbandale

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $71k271k

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

Neighborhood: Urbandale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8421567

* 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
North High School High Regular 2,616 128 5
Phoenix Coding Academy High Regular NA
Phoenix Coding Academy High Unknown NA

North High School

  • Education Level: High
  • # of students: 2,616
  • # of teachers: 128
5
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,233
Property Tax -$225
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
$40

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.

$355,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.7%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$24,650

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $1,894

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8953$1,9254$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 1817 E Monterey Way Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.24
    •  
  • 1619 E Whitton Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1941
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.36
    •  
  • 2226 E Weldon Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 1950
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.55
    •  
  • 2235 E Mitchell Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1948
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.40
    •  
  • 1530 E Windsor Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1947
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.40
    •  
PROPERTY LISTING DETAILS
Richard Noeltner
Service Star Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6210189
Last Updated: 03/20/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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