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18611 N 22nd Street #15 # 15 Phoenix, AZ 85024

3 Beds 2 Baths 1,155 sqft Built 1999

INVESTimate

$299,999

List Price

$1,300

$1,170 - $1,430

Rent Est.

$317,699  ( +5.90%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $259.74
  • 5 Days on Market
  • MLS # : 6121372
  • Updated Date : 08/22/2020 at 12:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,155 sqft
  • Baths : 2 full
Listing Agent

Prestige Realty

Listing Agent's Description

Location, Location, Location! Great Location! Ceramic Tile in all the right places, laminate floors & vinyl in the right places +Newly installed granite countertops in the kitchen+. Ceiling Fans in every room. Neutral Colors Throughout .New paper installed on the roof. New HVAC unProfessionally Landscaped. Large beautiful backyard. Covered Patio. Corner Lot. Close to schools, shopping & freeways.One of the largest lots in the subdivision.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arizona Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Arizona Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7941567

* 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
Sunset Canyon School Primary Regular 492 27 7
Mountain Trail Middle School Middle Regular 714 29 7
North Canyon High School High Regular 1,957 86 4

Sunset Canyon School

  • Education Level: Primary
  • # of students: 492
  • # of teachers: 27
7
GreatSchools Rating

Mountain Trail Middle School

  • Education Level: Middle
  • # of students: 714
  • # of teachers: 29
7
GreatSchools Rating

North Canyon High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 86
4
GreatSchools Rating
 

$269,999$329,999$299,999

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$1,107
Property Tax -$189
Property Insurance -$50
HOA -$65
Property Management Fees -$99
CASH FLOW
-$210

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.

$299,999

PROJECTED PRICE

$1,300

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.90%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $224,999
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,794

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,299

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,4504$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 18611 N 22nd Street #15 Phoenix, 1
    • 3 beds 2 baths ∙ 1,155 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,155 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.13
    •  
  • 2607 E John Cabot Road Phoenix, 2
    • 3 beds 2 baths ∙ 1,238 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,238 Sqft ∙ Built 1983
    property image
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.09
    •  
  • 1512 E Kristal Way Phoenix, 3
    • 3 beds 3 baths ∙ 1,320 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,320 Sqft ∙ Built 1986
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.10
    •  
  • 1717 E Union Hills Drive #1007 Phoenix, 4
    • 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1985
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.18
    •  
  • 1717 E Union Hills Drive #1034 Phoenix, 5
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1985
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.13
    •  
PROPERTY LISTING DETAILS
Bianca Bennett
Prestige Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121372
Last Updated: 08/22/2020
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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