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1832 E Sharon Drive Phoenix, AZ 85022

3 Beds 2 Baths 1,791 sqft Built 1992

$349,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $194.86
  • 3 Days on Market
  • MLS # : 6154772
  • Updated Date : 11/02/2020 at 09:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,791 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

New Vinyl flooring throughout. Views of lookout mountain from back yard. Great room floor plan. Two car garage and additional slab parking for 4. Master bedroom looks out over back yard and mountain views. Close to hiking trails, and a park with tennis courts. Easy access to downtown Phoenix, and close to shopping and restaurants. House is across the street from Hidden Hills Elementary. Owner/Agent.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cave Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Cave Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Hidden Hills Elementary School Primary Regular 501 30 7
Hidden Hills Elementary School Middle Regular 501 30 7
Shadow Mountain High School High Regular 1,390 67 3

Hidden Hills Elementary School

  • Education Level: Primary
  • # of students: 501
  • # of teachers: 30
7
GreatSchools Rating

Hidden Hills Elementary School

  • Education Level: Middle
  • # of students: 501
  • # of teachers: 30
7
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$314,100$383,900$349,000

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 -$1,288
Property Tax -$220
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$229

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.

$349,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

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

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$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,991

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,585

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,4503$1,6004$1,7005$1,795
$1,795
RENT COMPS ANALYSIS
  • 1832 E Sharon Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.80
    •  
  • 2351 E Evans Drive Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,511 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,511 Sqft ∙ Built 1992
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.96
    •  
  • 1832 E Friess Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 1986
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 1740 E Camino Del Santo -- Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 1974
    property image
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
  • 1742 E Winchcomb Drive Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,135 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,135 Sqft ∙ Built 1989
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
PROPERTY LISTING DETAILS
Henry Collins
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154772
Last Updated: 11/02/2020
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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