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18639 N 2nd Avenue Phoenix, AZ 85027

4 Beds 2 Baths 1,521 sqft Built 1995

$335,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $220.25
  • 3 Days on Market
  • MLS # : 6160245
  • Updated Date : 11/13/2020 at 19:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,521 sqft
  • Baths : 2 full
Listing Agent

Best Homes Real Estate, Llc

Listing Agent's Description

Beautiful CORNER lot home with a highly desired split floor plan with a 15 year exterior paint warranty & no HOA! Home includes a private front entrance, tile throughout main living spaces, NEW carpet in bedrooms, easy to maintain desert landscaping, large family/living room with FIREPLACE and a spacious open kitchen! Kitchen comes with an eat-in island, built-in microwave, stainless steel appliances, walk-in pantry and plenty of cabinetry space. Walk into the large master bedroom through a custom door, high ceilings, great natural light, walk-in closet with built-in cabinetry, a large master bathroom suite with a separate tub & remodeled shower & it's very own exit to the back yard! Backyard includes an extended patio with pull out shades, easy to maintain landscaping, plus so much more

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Northpark Central

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k275k

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

Neighborhood: Northpark Central

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7861567

* 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
Cactus View Elementary School Primary Regular 712 41 4
Cactus View Elementary School Middle Regular 712 41 4
North Canyon High School High Regular 1,957 86 4

Cactus View Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 41
4
GreatSchools Rating

Cactus View Elementary School

  • Education Level: Middle
  • # of students: 712
  • # of teachers: 41
4
GreatSchools Rating

North Canyon High School

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

$301,500$368,500$335,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,236
Property Tax -$211
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$103

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.

$335,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$15,861

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,555

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4503$1,5004$1,6005$1,625
$1,625
RENT COMPS ANALYSIS
  • 18639 N 2nd Avenue Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 108 W Topeka Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1985
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.94
    •  
  • 302 W Wescott Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 1983
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.06
    •  
  • 144 W Villa Maria Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1984
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.09
    •  
  • 18462 N 5th Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1997
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.00
    •  
PROPERTY LISTING DETAILS
Bobby Johns
Best Homes Real Estate, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160245
Last Updated: 11/13/2020
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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