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1847 E Berridge Lane Phoenix, AZ 85016

3 Beds 2 Baths 1,831 sqft Built 1956

$695,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $379.57
  • 2 Days on Market
  • MLS # : 6186216
  • Updated Date : 01/30/2021 at 16:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,831 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Popular Tonka Vista community in Uptown Phoenix- Single level, 3 bedrooms, 2 baths, 2 car garage with pool situated on an oversized, corner lot.Beautifully cared for interior-Chef's kitchen with 6burner& grill Viking Range w/double ovens, Stainless side by side Kenmore Elite Refrigerator, granite counters and custom cabinetry.Cozy family/living room next to kitchen.Office w/ built in desks-could be converted to 4th bedroom.Main bedroom w/ views of lush backyard, recently updated ensuite bath w/ oversized walk-in shower. Backyard perfect for entertaining, covered patio, fantastic grill/griddle, resurfaced pool w/water feature, grassy area, play house and cooled storage shed perfect for office or workroom. Key location convenient to Phoenix's most popular restaurants & shopping and downtown.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Tonka Vista

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500k550k600k650k700kPrice in $91k735k

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

Neighborhood: Tonka Vista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9342841

* 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 Heights Elementary School Primary Regular 538 30 8
North High School High Regular 2,616 128 5
Phoenix Coding Academy High Regular NA

Madison Heights Elementary School

  • Education Level: Primary
  • # of students: 538
  • # of teachers: 30
8
GreatSchools Rating

North High School

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

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$625,500$764,500$695,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$2,414
Property Tax -$507
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
-$873

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.

$695,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.7%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$189,925

INVESTMENT

$189,925

Down Payment
$173,750
Rehab Estimate
$5,750
Closing Costs
$10,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,414

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $173,750
Loan Amount $521,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$262

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
  • $2,367

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,2504$2,3505$2,400
$2,400
RENT COMPS ANALYSIS
  • 1847 E Berridge Lane Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1619 E Maryland Avenue Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,793 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,793 Sqft ∙ Built 1964
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.23
    •  
  • 1930 E Solano Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1952
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.25
    •  
  • 1216 E Escondido Drive Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,835 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,835 Sqft ∙ Built 1970
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.28
    •  
  • 1821 E Luke Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1952
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.41
    •  
PROPERTY LISTING DETAILS
Nicole Whitaker
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186216
Last Updated: 01/30/2021
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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