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1837 W Virginia Avenue Phoenix, AZ 85007

3 Beds 2 Baths 1,600 sqft Built 1948

$515,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $321.88
  • 5 Days on Market
  • MLS # : 6205124
  • Updated Date : 03/13/2021 at 20:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

This newly remodeled 3 bedroom 2 bathroom home in Phoenix is move in ready! Home is located on a large lot in the desirable neighborhood of Encanto Heights. Some of the updates include all new wood look tile flooring, white shaker kitchen cabinets, backsplash, floating bath vanities, new tile showers, modern lighting/can lights, new craftsman front door, fresh paint in/out, new landscaping front/back, Holland pavers, 2 car driveway, 1 car garage, new AC/Heater 2019, dual pane windows, all copper water lines, and much more! No HOA. Neighborhood is surrounded by Encanto Golf Course and is minutes from Encanto Park, shopping, restaurants, great schools, and not far from the I-10, 1-17, 51 freeway, and Central Phoenix. Truly a great location!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Encanto Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k382k

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

Neighborhood: Encanto Heights

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
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
 

$463,500$566,500$515,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,789
Property Tax -$275
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$561

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.

$515,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.5%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,079

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
  • $1,736

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5753$1,6754$1,7255$2,000
$2,000
RENT COMPS ANALYSIS
  • 1837 W Virginia Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 550 W Cambridge Avenue Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 1945 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 1945
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.12
    •  
  • 1717 W Osborn Road Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1945
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.05
    •  
  • 2322 W Cheery Lynn Road Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1954
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.04
    •  
  • 2928 N 18th Avenue Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 1951 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 1951
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.13
    •  
PROPERTY LISTING DETAILS
Courtney L Olsen
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6205124
Last Updated: 03/13/2021
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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