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18815 N 22nd Lane Phoenix, AZ 85027

4 Beds 2 Baths 1,544 sqft Built 1973

$335,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $216.97
  • 2 Days on Market
  • MLS # : 6170295
  • Updated Date : 12/11/2020 at 22:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,544 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

AVAILABLE 12/12/2020 Come see this home located in the beautiful Green Meadows. This property is immaculate and ready for its new owner! This home has been taken care of through the years and even has had some upgrades that will make purchasing this home even better. Large backyard that is equipped with a glistening swimming pool and much more. Conveniently only minutes away from I-17 and 101 access. NEW A/C as of 2019. Listing agent will be holding an open house 12/12/20. Please be mindful, sellers will be looking at offers by Monday, 12/14/2020.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Green Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Green Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7501567

* 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
Village Meadows Elementary School Primary Regular 470 33 4
Deer Valley Middle School Middle Regular 616 31 5
Barry Goldwater High School High Regular 1,856 88 4

Village Meadows Elementary School

  • Education Level: Primary
  • # of students: 470
  • # of teachers: 33
4
GreatSchools Rating

Deer Valley Middle School

  • Education Level: Middle
  • # of students: 616
  • # of teachers: 31
5
GreatSchools Rating

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,236
Property Tax -$201
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$3

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.

$335,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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$0.0$5.0k$10k$15k

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 45% 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

5.58

YEARS SAVED

$24,199

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,532

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4503$1,5254$1,5905$1,785
$1,785
RENT COMPS ANALYSIS
  • 18815 N 22nd Lane Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.03
    •  
  • 1958 W Meadow Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1967
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.00
    •  
  • 1628 W Sack Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1973
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 1411 W Villa Theresa Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1993
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.99
    •  
  • 2141 W Utopia Road Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1977
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $1.03
    •  
PROPERTY LISTING DETAILS
Dominick Montano
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170295
Last Updated: 12/11/2020
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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