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1917 E Lamar Road Phoenix, AZ 85016

5 Beds 4 Baths 2,519 sqft Built 1963

$775,000

List Price

$3,030

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $307.66
  • 2 Days on Market
  • MLS # : 6199175
  • Updated Date : 03/06/2021 at 21:01
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,519 sqft
  • Baths : 3 full , 1 half
Listing Agent

R.o.i. Properties

Listing Agent's Description

Location Location! This beautiful 5 bedroom 3.5 bath home features two master suites, and has recently been updated throughout. Enjoy amazing sunrise, sunset and mountain views from your front patio, backyard patio or private pool. Short walk to Granada Park and the Phoenix Mountain Preserve. Just minutes from Biltmore, shopping and restaurants with easy access to the 51. Get ready because this one won't last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Crown Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k478k

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

Neighborhood: Crown Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9342546

* 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
Camelback High School High Regular 2,048 110 4
Phoenix Coding Academy High Regular NA

Madison Heights Elementary School

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

Camelback High School

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

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$697,500$852,500$775,000

PURCHASE PRICE

$2,727$3,333$3,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,030
EXPENSES Loan Payment -$2,692
Property Tax -$557
Property Insurance -$76
Property Management Fees -$99
CASH FLOW
-$394

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.

$775,000

PROJECTED PRICE

$3,030

PROJECTED RENT

0.39%

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

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$211,125

INVESTMENT

$211,125

Down Payment
$193,750
Rehab Estimate
$5,750
Closing Costs
$11,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,692

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $193,750
Loan Amount $581,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$16,020

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
  • $3,199

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,8003$3,0004$3,4005$3,895
$3,895
RENT COMPS ANALYSIS
  • 1917 E Lamar Road Phoenix, AZ 1
    • 5 beds 4 baths ∙ 2,519 Sqft ∙ Built 1963 5 beds 4 baths ∙ 2,519 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8423 N 16th Place Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1977
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.28
    •  
  • 1739 E Ocotillo Road Phoenix, AZ 3
    • 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
    •  
  • 2035 E Orangewood Avenue Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 1973
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.30
    •  
  • 7816 N 18th Street Phoenix, AZ 5
    • 4 beds 4 baths ∙ 2,801 Sqft ∙ Built 1983 4 beds 4 baths ∙ 2,801 Sqft ∙ Built 1983
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,895
    • $1.39
    •  
PROPERTY LISTING DETAILS
Beth Jo Zeitzer
R.o.i. Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199175
Last Updated: 03/06/2021
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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