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1832 N 7th Avenue Phoenix, AZ 85007

4 Beds 3 Baths 2,360 sqft Built 1936

$650,000

List Price

$3,330

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1936
  • Price/Sqft : $275.42
  • 2 Days on Market
  • MLS # : 6210101
  • Updated Date : 03/21/2021 at 02:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,360 sqft
  • Baths : 3 full
Listing Agent

Re/max Solutions

Listing Agent's Description

A gem in the heart of the city. Move in ready with a finished basement located in historic Phoenix! The features include (but are not limited to) custom hardwood floors, fully updated kitchen, newly installed LG Appliances, gas range, custom cabinets, silestone counters, mid century retro bathrooms, plastered interior walls, fireplace, and additional rooms available with build out options. Spacious lot features 4 oversized rear entry off street parking along with 1 added covered parking, 2 over sized rv parking spots, extended patio, and private garage/workshop with split metered 220 vol. Ideal property would be perfect for someone working from home or running a home based business. Energy efficient 3 newer AC units (2016) and 2 tankless water heaters (2018). Also, new roof put on in 2016

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Palmcroft

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $91k784k

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

Neighborhood: Palmcroft

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000320034003600Rent in $9343693

* 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
Central High School High Regular 2,251 136 3
Phoenix Coding Academy High Regular NA
Phoenix Coding Academy High Unknown NA

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
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
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,997$3,663$3,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,330
EXPENSES Loan Payment -$2,258
Property Tax -$347
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
$553

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$650,000

PROJECTED PRICE

$3,330

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.36%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.72%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$93,168

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
  • $2,525

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6753$2,3504$2,5955$2,850
$2,850
RENT COMPS ANALYSIS
  • 1832 N 7th Avenue Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1936 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1936
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 309 W Almeria Road Phoenix, AZ 2
    • 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 1945 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 1945
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.77
    •  
  • 1221 E Windsor Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1951 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1951
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.13
    •  
  • 1201 E Almeria Road Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,213 Sqft ∙ Built 1953 3 beds 2 baths ∙ 2,213 Sqft ∙ Built 1953
    LEASED 03/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.17
    •  
  • 1144 W Edgemont Avenue Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 1950 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 1950
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.21
    •  
PROPERTY LISTING DETAILS
Michael Kent
Re/max Solutions
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6210101
Last Updated: 03/21/2021
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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