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1832 N 7th Avenue Phoenix, AZ 85007

3 Beds 3 Baths 2,360 sqft Built 1936

$655,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1936
  • Price/Sqft : $277.54
  • 5 Days on Market
  • MLS # : 6177661
  • Updated Date : 01/06/2021 at 22:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,360 sqft
  • Baths : 3 full
Listing Agent

Az Prime Property Management

Listing Agent's Description

wow! absolutely gorgeous unique historic phoenix 3/3 split level house with custom hardwood floors, fully updated kitchen, stainless steel appliances, silestone counters, mid century retro bathrooms, plastered interior walls, fireplace, fully built out basement with enclosed bathroom, office/den space perfect for home based businesses seeking to establish in the highly sought after downtown area at a fraction of the cost, additional numerous rooms available with build out options, 4 over sized rear entry off street parking along with 1 added covered parking, 2 over sized rv parking spots, private garage/work shop with split metered 220 volts perfect for the hobbyist, nearby downtown vibe with fabulous restaurants and shops, private enclosed patio, city views, great location and more!

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
Kenilworth School Primary Regular 591 27 4
Kenilworth School Middle Regular 591 27 4
Central High School High Regular 2,251 136 3

Kenilworth School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 27
4
GreatSchools Rating

Kenilworth School

  • Education Level: Middle
  • # of students: 591
  • # of teachers: 27
4
GreatSchools Rating

Central High School

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

$589,500$720,500$655,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$2,275
Property Tax -$350
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
-$67

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.

$655,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.42%

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-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$179,325

INVESTMENT

$179,325

Down Payment
$163,750
Rehab Estimate
$5,750
Closing Costs
$9,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,275

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $163,750
Loan Amount $491,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$31,577

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
  • $2,203

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6753$1,9954$2,350
$2,350
RENT COMPS ANALYSIS
  • 1832 N 7th Avenue Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,360 Sqft ∙ Built 1936 3 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
    •  
  • 1201 E Almeria Road Phoenix, AZ 3
    • 3 beds 2 baths ∙ 2,213 Sqft ∙ Built 1953 3 beds 2 baths ∙ 2,213 Sqft ∙ Built 1953
    LEASED 09/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 1221 E Windsor Avenue Phoenix, AZ 4
    • 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
    •  
PROPERTY LISTING DETAILS
Dominic Arnold
Az Prime Property Management
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6177661
Last Updated: 01/06/2021
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.

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