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1921 W Orangewood Avenue Phoenix, AZ 85021

3 Beds 2 Baths 1,600 sqft Built 1959

$280,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $175.00
  • 3 Days on Market
  • MLS # : 6184428
  • Updated Date : 01/22/2021 at 17:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Central Corridor Location. Great investment opportunity property, is currently rented at $1,330 a month until July 1st, 2021. Home features large Family room, w/built in cabinet, 3bed, 2bath, New gas water heater 2019, nice grassy backyard, walking distance to Shopping, Schools, Entertainment, Dinning, Hospitals, and the Light Rail. The Light Rail connects to all locations of the City include Downtown Phoenix, ASU, Sky Harbor, and Downtown Tempe.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: New Castle Homes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: New Castle Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8201567

* 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
Orangewood Elementary School Primary Regular 1,016 48 4
Orangewood Elementary School Middle Regular 1,016 48 4
Washington High School High Regular 1,714 73 4

Orangewood Elementary School

  • Education Level: Primary
  • # of students: 1,016
  • # of teachers: 48
4
GreatSchools Rating

Orangewood Elementary School

  • Education Level: Middle
  • # of students: 1,016
  • # of teachers: 48
4
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 73
4
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$973
Property Tax -$167
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
$213

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.

$280,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.1%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$37,363

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,764

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,5953$1,6004$1,6755$1,850
$1,850
RENT COMPS ANALYSIS
  • 1921 W Orangewood Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.94
    •  
  • 1814 W Vista Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1954
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 7126 N 19th Avenue #158 Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,408 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,408 Sqft ∙ Built 1970
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.14
    •  
  • 7709 N 18th Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1966
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.17
    •  
  • 1801 W Morten Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1955
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.14
    •  
PROPERTY LISTING DETAILS
Angela Cartagena
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184428
Last Updated: 01/22/2021
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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