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1935 E Larkspur Drive Phoenix, AZ 85022

2 Beds 1 Baths 904 sqft Built 1955

$245,000

List Price

$1,050

$945 - $1.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $271.02
  • 10 Days on Market
  • MLS # : 6156929
  • Updated Date : 11/14/2020 at 11:19
CONSTRUCTION
  • Beds : 2
  • Floor Size : 904 sqft
  • Baths : 1 full
Listing Agent

Munro Realty International

Listing Agent's Description

Adorable North East Valley Contemporary Home! Light & Bright w highly Functional Floorplan. Large North/South facing Oversized Lot w RV Parking & Fantastic Mountain & Elevated Views! Open Gourmet Kitchen w Butcher Block Counters & Island; Premium Appliances & Fixtures. Neutral Wood Flooring throughout! Bathroom offers premium Fixtures & Cabinetry w contrasting Designer Black & White Tilework for an Inviting Space. Excellent Location w proximity to the Best Schools, Shopping and Dining. Convenience to all Freeways (SR-51, I-17, SR-101). Not many in this price point! Don't miss out!

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PRICE & RENT TRENDS

Neighborhood: Paradise Valley Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Paradise Valley Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Hidden Hills Elementary School Primary Regular 501 30 7
Hidden Hills Elementary School Middle Regular 501 30 7
Shadow Mountain High School High Regular 1,390 67 3

Hidden Hills Elementary School

  • Education Level: Primary
  • # of students: 501
  • # of teachers: 30
7
GreatSchools Rating

Hidden Hills Elementary School

  • Education Level: Middle
  • # of students: 501
  • # of teachers: 30
7
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$945$1,155$1,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,050
EXPENSES Loan Payment -$904
Property Tax -$157
Property Insurance -$45
Property Management Fees -$99
CASH FLOW
-$155

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.

$245,000

PROJECTED PRICE

$1,050

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.5%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,462

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,050

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,050
$1,050
RENT COMPS ANALYSIS
  • 1935 E Larkspur Drive Phoenix, AZ
    • 2 beds 1 baths ∙ 904 Sqft ∙ Built 1955 2 beds 1 baths ∙ 904 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $1.16
    •  
PROPERTY LISTING DETAILS
Jacques Henri Munro
Munro Realty International
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156929
Last Updated: 11/14/2020
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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