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1824 E Grenadine Road Phoenix, AZ 85040

3 Beds 2 Baths 1,671 sqft Built 2018

$359,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $214.84
  • 5 Days on Market
  • MLS # : 6158548
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,671 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Beautiful 3 bed 2 bath 1,671 SqFt single-family home on an oversized 9,895 SqFt corner lot. Newly built in 2018 with brand new appliances, upgraded fixtures and ceiling fans. Walk-in master closet, marble shower and double sinks in master. 2 car garage, smart security system installed in a gated community. White cabinets, granite countertops, subway tile backsplash, kitchen island, Walk-in pantry, with vinyl flooring throughout the kitchen, great room, and hallways. Large backyard with grass, storage shed and pavers. Third biggest lot in the neighborhood! Dual-pane energy-star windows, zero-grade entry.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: South Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: South Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7291567

* 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
T.g. Barr School Primary Regular 516 29 2
T.g. Barr School Middle Regular 516 29 2
South Mountain High School High Regular 1,706 102 2

T.g. Barr School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 29
2
GreatSchools Rating

T.g. Barr School

  • Education Level: Middle
  • # of students: 516
  • # of teachers: 29
2
GreatSchools Rating

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,325
Property Tax -$233
Property Insurance -$60
HOA -$88
Property Management Fees -$99
CASH FLOW
-$365

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.

$359,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.9%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,871

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,504

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4493$1,6504$1,6755$1,695
$1,695
RENT COMPS ANALYSIS
  • 1824 E Grenadine Road Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1455 E Bloch Road Phoenix, AZ 2
    • 4 beds 3 baths ∙ 1,580 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,580 Sqft ∙ Built 2003
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.92
    •  
  • 1918 E Vineyard Road Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,867 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,867 Sqft ∙ Built 1999
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 1712 E Grove Street Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2017
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.93
    •  
  • 2113 E Sunland Avenue Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,951 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,951 Sqft ∙ Built 2005
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
PROPERTY LISTING DETAILS
Brittani Sikorsky
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6158548
Last Updated: 11/13/2020
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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