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

1822 E Cheery Lynn Road Phoenix, AZ 85016

4 Beds 2 Baths 1,471 sqft Built 1952

$379,900

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $258.26
  • 2 Days on Market
  • MLS # : 6178898
  • Updated Date : 01/09/2021 at 00:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,471 sqft
  • Baths : 1 full , 1 half
Listing Agent

Superstars Realty

Listing Agent's Description

** Dont Miss Out ** Move in Ready!! This 4 bedroom 1.75 bath has been updated and it shows. Open Kitchen with plenty of cabinets for storage and a Peninsula for additional seating a plus. The Mini dry bar makes this area great for entertaining. Master bedroom has a walk-in closet with french doors leading to the back patio. Master Bath has a large shower with new vanity. Secondary Bedrooms and Bathroom good size. Plenty of parking space with RV gate that leads to back carport area for additional parking. Spacious Back yard has plenty of room to make your own. Large shed for additional storage. This is a Must See!! Home is close to transportation and shopping.

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
Loma Linda Elementary School Primary Regular 718 36 4
Loma Linda Elementary School Middle Regular 718 36 4
North High School High Regular 2,616 128 5

Loma Linda Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 36
4
GreatSchools Rating

Loma Linda Elementary School

  • Education Level: Middle
  • # of students: 718
  • # of teachers: 36
4
GreatSchools Rating

North High School

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

$341,910$417,890$379,900

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,320
Property Tax -$241
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
$345

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.

$379,900

PROJECTED PRICE

$2,060

PROJECTED RENT

0.54%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$57,842

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,203

    COMP ESTIMATED VALUE
  • $1.5

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,0604$2,4995$2,700
$2,700
RENT COMPS ANALYSIS
  • 1822 E Cheery Lynn Road Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,471 Sqft ∙ Built 1952 4 beds 2 baths ∙ 1,471 Sqft ∙ Built 1952
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $1.40
    •  
  • 2235 E Mitchell Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1948
    property image
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.40
    •  
  • 1530 E Windsor Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1947
    property image
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.40
    •  
  • 1648 E Mitchell Drive Phoenix, AZ 4
    • 4 beds 3 baths ∙ 1,655 Sqft ∙ Built 1952 4 beds 3 baths ∙ 1,655 Sqft ∙ Built 1952
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $1.51
    •  
  • 2022 E Mulberry Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1956
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.68
    •  
PROPERTY LISTING DETAILS
Arthur Welch
Superstars Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178898
Last Updated: 01/09/2021
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