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1834 E 38th Avenue Apache Junction, AZ 85119

3 Beds 2 Baths 1,050 sqft Built 2001

$250,000

List Price

$1,130

$1K - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $238.10
  • 4 Days on Market
  • MLS # : 6195591
  • Updated Date : 02/19/2021 at 17:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,050 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Single family detached home in the East Valley for 250k!? say what! Come by to see this beautiful starter home or perfect for empty nesters. Granite throughout, epoxy floor in garage, newer carpet. Open living room/kitchen and big master for the size of home. Not to mention home is on a good size lot. You will not find a home or neighborhood like this in the east valley for the price.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Apache Junction

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k285k

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

Neighborhood: Apache Junction

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Cactus Canyon Junior High School Middle Regular 780 40 4
Apache Junction High School High Regular 1,304 69 3

Cactus Canyon Junior High School

  • Education Level: Middle
  • # of students: 780
  • # of teachers: 40
4
GreatSchools Rating

Apache Junction High School

  • Education Level: High
  • # of students: 1,304
  • # of teachers: 69
3
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,017$1,243$1,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,130
EXPENSES Loan Payment -$868
Property Tax -$134
Property Insurance -$48
HOA -$45
Property Management Fees -$99
CASH FLOW
-$64

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.

$250,000

PROJECTED PRICE

$1,130

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.9%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$9,760

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,130

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,121

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,130
1$1,1302$1,2503$1,3004$1,3955$1,395
$1,395
RENT COMPS ANALYSIS
  • 1834 E 38th Avenue Apache Junction, AZ 1
    • 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,130
    • $1.08
    •  
  • 1515 E 28th Avenue Apache Junction, AZ 2
    • 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1999
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.10
    •  
  • 2094 E 28th Avenue Apache Junction, AZ 3
    • 3 beds 2 baths ∙ 1,219 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,219 Sqft ∙ Built 2007
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.07
    •  
  • 1050 E Santa Cruz Lane Apache Junction, AZ 4
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1998
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.04
    •  
  • 2232 E Greenlee Avenue Apache Junction, AZ 5
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 2007
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
PROPERTY LISTING DETAILS
Justin James Mercer
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6195591
Last Updated: 02/19/2021
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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