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1906 E Patrick Lane Phoenix, AZ 85024

4 Beds 3 Baths 2,768 sqft Built 2004

$469,900

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $169.76
  • 3 Days on Market
  • MLS # : 6201667
  • Updated Date : 03/13/2021 at 20:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,768 sqft
  • Baths : 2 full , 1 half
Listing Agent

My Home Group Real Estate

Listing Agent's Description

OPEN HOUSES ALL WEEKEND! Come by! You will love this home! BRAND NEW interior and exterior paint! Timeless wood-look tile floors will allow you to change your style as often as you like. Enjoy the well manicured yard and mountain views while you use your built in BBQ. The back patio and garage floor stay clean and tidy from epoxy coating. All of these are newer updates along with the great floor plan including 4 bedrooms, 2.5 baths and a loft. The seller is ready to pass along her joy to you.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Eagle Bluff

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $91k402k

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

Neighborhood: Eagle Bluff

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342169

* 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
Mountain Trail Middle School Middle Regular 714 29 7
Pinnacle High School High Regular 2,443 96 8

Mountain Trail Middle School

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

Pinnacle High School

  • Education Level: High
  • # of students: 2,443
  • # of teachers: 96
8
GreatSchools Rating
 

$422,910$516,890$469,900

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,632
Property Tax -$296
Property Insurance -$81
HOA -$12
Property Management Fees -$99
CASH FLOW
$319

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.

$469,900

PROJECTED PRICE

$2,440

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.9%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,274

INVESTMENT

$130,274

Down Payment
$117,475
Rehab Estimate
$5,750
Closing Costs
$7,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,475
Loan Amount $352,425
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$57,642

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,782

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,440
1$2,4402$2,4503$2,5954$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 1906 E Patrick Lane Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,768 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,768 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.88
    •  
  • 24106 N 25th Place Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,469 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,469 Sqft ∙ Built 2007
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.99
    •  
  • 23003 N 20th Way Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 1996
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.99
    •  
  • 1834 E Patrick Lane Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 2004
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
  • 23010 N 20th Way Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 1996
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.07
    •  
PROPERTY LISTING DETAILS
Traci Randolph
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6201667
Last Updated: 03/13/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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