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PROPERTY INFO
FACTS
- Single Family
- Built In 1950
- Price/Sqft : $257.35
- 3 Days on Market
- MLS # : 6165246
- Updated Date : 11/27/2020 at 10:45
CONSTRUCTION
- Beds : 3
- Floor Size : 1,360 sqft
- Baths : 2 full
Listing Agent
Re/max Fine Properties
Listing Agent's Description
Check out this renovated 1950's solid brick beauty! Perfectly situated on an oversized corner lot with N/S exposure, this ranch styled home has the charm of the past but the modern finishes, features and upgrades of today. Items updated within the last 3 years include HVAC, windows, water heater, dishwasher & refrigerator. This open concept layout is perfect for entertaining and the windows provide an abundance of natural light making this space so inviting. Updated kitchen features stainless steel appliances, granite counters, lots of cabinets for storage, neutral colored tile floors and tumbled stone backsplash! Owner's suite is at the end of the hall and wait until you see the CLOSET, it's HUGE! Awesome lot w/ flood irrigation that keeps your grass green all year and helps cut down on
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PRICE & RENT TRENDS
Neighborhood: Camelback East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Camelback East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,700 |
| EXPENSES | Loan Payment | -$1,291 |
| Property Tax | -$222 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$34
|
||
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.
$350,000
PROJECTED PRICE
$1,700
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.35% |
| Appreciation Year (1-5) | 10.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.24% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$98,500
LOAN DETAILS
$1,291
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $87,500 |
| Loan Amount | $262,500 |
6.33
YEARS SAVED
$29,826
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,700
LIST RENT -
$1.25
LIST RENT PER SQFT
-
$1,904
COMP ESTIMATED VALUE -
$1.4
COMP AVG. RENT PER SQFT
Comps Range
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1845 E Amelia Avenue Phoenix, AZ 2
- 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1950
- Rent
- Rent Per SQFT
- $1,700
- $1.25
-
3202 N 20th Place Phoenix, AZ 1
- 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 1956
LEASED 01/17/20- Rent
- Rent Per SQFT
- $1,625
- $1.34
-
1819 E Indianola Avenue Phoenix, AZ 3
- 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1945
LEASED 01/01/20- Rent
- Rent Per SQFT
- $1,850
- $1.31
-
2226 E Weldon Avenue Phoenix, AZ 4
- 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 1950
LEASED 09/25/20- Rent
- Rent Per SQFT
- $1,925
- $1.55
-
2235 E Mitchell Drive Phoenix, AZ 5
- 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1948
LEASED 07/11/20- Rent
- Rent Per SQFT
- $1,995
- $1.40
PROPERTY LISTING DETAILS
Re/max Fine Properties
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6165246
Last Updated: 11/27/2020
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.
