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1901 E Ocotillo Road Phoenix, AZ 85016

5 Beds 4 Baths 2,819 sqft Built 1959

$675,000

List Price

$3,130

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $239.45
  • 4 Days on Market
  • MLS # : 6176026
  • Updated Date : 12/31/2020 at 23:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,819 sqft
  • Baths : 4 full
Listing Agent

Delex Realty

Listing Agent's Description

This home is in a desirable area near the Biltmore and only steps away from the Granada Park. Million dollar homes ate scattered around this home. It's super quiet and close to the highway. The main home has a master suite away from the other three bedrooms. There is a Junior suite in the main home as well. There are three bedrooms that have mountain views of Piestewa Peak. The home was completely remodeled to a modern farmhouse. There is also a guest house behind the home with its own street, driveway and backyard. Currently this is a short term rental grossing $7000 a month. Please text for showings. This can come fully furnished for an additional reasonable charge.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Silva Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k364k

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

Neighborhood: Silva Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341999

* 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
Madison 1 Middle School Middle Regular 923 50 7
Camelback High School High Regular 2,048 110 4

Madison Heights Elementary School

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

Madison 1 Middle School

  • Education Level: Middle
  • # of students: 923
  • # of teachers: 50
7
GreatSchools Rating

Camelback High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 110
4
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,817$3,443$3,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,130
EXPENSES Loan Payment -$2,490
Property Tax -$485
Property Insurance -$82
Property Management Fees -$99
CASH FLOW
-$27

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.

$675,000

PROJECTED PRICE

$3,130

PROJECTED RENT

0.46%

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-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$43,924

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
  • $2,854

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,3953$2,4954$3,0005$3,300
$3,300
RENT COMPS ANALYSIS
  • 1901 E Ocotillo Road Phoenix, AZ 1
    • 5 beds 4 baths ∙ 2,819 Sqft ∙ Built 1959 5 beds 4 baths ∙ 2,819 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2130 E Lawrence Road Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,936 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,936 Sqft ∙ Built 1966
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.82
    •  
  • 7221 N 18th Place Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 1979
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.94
    •  
  • 1739 E Ocotillo Road Phoenix, AZ 4
    • 4 beds 4 baths ∙ 2,700 Sqft ∙ Built 1957 4 beds 4 baths ∙ 2,700 Sqft ∙ Built 1957
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.11
    •  
  • 20 E Northview Avenue Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 1954 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 1954
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.18
    •  
PROPERTY LISTING DETAILS
Luke H Johnson
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176026
Last Updated: 12/31/2020
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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