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1837 E Minnezona Avenue Phoenix, AZ 85016

4 Beds 3 Baths 1,901 sqft Built 1955

INVESTimate

$635,000

List Price

$2,100

$1,890 - $2,310

Rent Est.

$683,260  ( +7.60%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1955
  • Price/Sqft : $334.03
  • 8 Days on Market
  • MLS # : 6119671
  • Updated Date : 08/25/2020 at 18:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,901 sqft
  • Baths : 3 full
Listing Agent

Phoenix Urban Spaces

Listing Agent's Description

20th ST & Highland. 2 Master Bedrooms! Plus 2 bedroom + Den, 3 Bath, Attached Garage. Floor plan is a dual split master in 1953 SF. Fully renovated by Owner/Agent, NOT a flip. New electric, plumbing, roof, HVAC, appliances, insulation. Updated finishes include tile throughout, custom kitchen and bath cabinetry, quartz countertops, ceiling fans in all rooms. Beautifully manicured landscaping by design with two distinct outdoor living spaces. Block wall with basket weave metal finish offers extra layer of privacy. The garage is oversized and includes custom cabinets. Comparable Sales used to price home - https://www.flexmls.com/share/3o53F/Selected

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Highland Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k357k

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

Neighborhood: Highland Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342107

* 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
Madison Camelview Elementary School Primary Regular 689 33 4
Madison Park Middle School Middle Regular 423 22 4
North High School High Regular 2,616 128 5

Madison Camelview Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 33
4
GreatSchools Rating

Madison Park Middle School

  • Education Level: Middle
  • # of students: 423
  • # of teachers: 22
4
GreatSchools Rating

North High School

  • Education Level: High
  • # of students: 2,616
  • # of teachers: 128
5
GreatSchools Rating
 

$571,500$698,500$635,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

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-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$2,343
Property Tax -$456
Property Insurance -$64
Property Management Fees -$99
CASH FLOW
-$862

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$635,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.60%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$174,025

INVESTMENT

$174,025

Down Payment
$158,750
Rehab Estimate
$5,750
Closing Costs
$9,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,343

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $158,750
Loan Amount $476,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$339

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,181

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,780
1$1,7802$2,0003$2,1004$2,2005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1837 E Minnezona Avenue Phoenix, 3
    • 4 beds 3 baths ∙ 1,901 Sqft ∙ Built 1955 4 beds 3 baths ∙ 1,901 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.10
    •  
  • 1815 E Minnezona Avenue Phoenix, 1
    • 4 beds 3 baths ∙ 1,962 Sqft ∙ Built 1955 4 beds 3 baths ∙ 1,962 Sqft ∙ Built 1955
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.91
    •  
  • 2215 E Heatherbrae Drive Phoenix, 2
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1949
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.15
    •  
  • 4730 N 24th Place Phoenix, 4
    • 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1961
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.28
    •  
  • 2201 E Glenrosa Avenue Phoenix, 5
    • 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 1950 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 1950
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.25
    •  
PROPERTY LISTING DETAILS
Roberta Candelaria
Phoenix Urban Spaces
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119671
Last Updated: 08/25/2020
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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