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PROPERTY INFO
FACTS
- Single Family
- Built In 1970
- Price/Sqft : $320.35
- 3 Days on Market
- MLS # : 6178267
- Updated Date : 01/09/2021 at 19:22
CONSTRUCTION
- Beds : 2
- Floor Size : 796 sqft
- Baths : 1 full
Listing Agent
Advanta Living, Llc
Listing Agent's Description
This modern contemporary 2 bed/ 1 bath patio home is located in No Central Phx close to Granada Park, the AZ canal, Squaw Peak, restaurants, bars and shopping. The patio home is bright, move-in ready and features an open concept family room and kitchen, laminate wood flooring, a dry bar and covered parking. The spacious kitchen features Italian Pedini cabinets with uplighting, granite countertops and upgraded SS appliances, including a Bosch dishwasher and Fisher Paykel Refrigerator. The covered back patio offers a tranquil place to have a cup of coffee or glass of wine. This resort style community boasts a state of the art fitness center, clubhouse, 25-meter lap pool and spa. These homes don't last long due to high demand and limited supply. This is a great place to call home.
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PRICE & RENT TRENDS
Neighborhood: Biltmore Gardens at Squaw Peak Condominiums
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Biltmore Gardens at Squaw Peak Condominiums
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,230 |
| EXPENSES | Loan Payment | -$886 |
| Property Tax | -$183 | |
| Property Insurance | -$43 | |
| HOA | -$265 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$246
|
||
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.
$255,000
PROJECTED PRICE
$1,230
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$73,325
LOAN DETAILS
$886
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $63,750 |
| Loan Amount | $191,250 |
0.5
YEARS SAVED
$434
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$1,023
COMP ESTIMATED VALUE -
$1.29
COMP AVG. RENT PER SQFT
Comps Range
-
1850 E Maryland Avenue #15 Phoenix, AZ 1
- 2 beds 1 baths ∙ 796 Sqft ∙ Built 1970 2 beds 1 baths ∙ 796 Sqft ∙ Built 1970
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- Rent
- Rent Per SQFT
- $0
- $0.00
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1722 E Ocotillo Road #8 Phoenix, AZ 2
- 2 beds 1 baths ∙ 700 Sqft ∙ Built 1968 2 beds 1 baths ∙ 700 Sqft ∙ Built 1968
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LEASED 12/01/20- Rent
- Rent Per SQFT
- $925
- $1.32
-
1701 E Ocotillo Road #6 Phoenix, AZ 3
- 2 beds 1 baths ∙ 900 Sqft ∙ Built 1957 2 beds 1 baths ∙ 900 Sqft ∙ Built 1957
![property image]()
LEASED 03/01/20- Rent
- Rent Per SQFT
- $1,100
- $1.22
-
6221 N 13th Place #3 Phoenix, AZ 4
- 2 beds 2 baths ∙ 936 Sqft ∙ Built 1960 2 beds 2 baths ∙ 936 Sqft ∙ Built 1960
![property image]()
LEASED 03/06/20- Rent
- Rent Per SQFT
- $1,200
- $1.28
-
6819 N 12 Street #22 Phoenix, AZ 5
- 2 beds 1 baths ∙ 950 Sqft ∙ Built 1965 2 beds 1 baths ∙ 950 Sqft ∙ Built 1965
![property image]()
LEASED 10/07/20- Rent
- Rent Per SQFT
- $1,250
- $1.32
PROPERTY LISTING DETAILS
Advanta Living, Llc
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6178267
Last Updated: 01/09/2021
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.
