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1938 W Georgia Avenue Phoenix, AZ 85015

4 Beds 2 Baths 1,153 sqft Built 1953

$289,900

List Price

$1,040

$936 - $1.1K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $251.43
  • 3 Days on Market
  • MLS # : 6167972
  • Updated Date : 12/05/2020 at 15:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,153 sqft
  • Baths : 1 full , 1 half
Listing Agent

Mojica & Associates Real Estate

Listing Agent's Description

Charming 1950's bungalow has been nicely updated. Laminate wood floors, fresh interior paint. Vaulted ceilings. Family room has a cozy fireplace. The eat-in kitchen has white cabinets, quartz counters, SS appliances, breakfast bar seating. Bedrooms have plush new carpet & ceiling fans. Update bathrooms. Interior laundry. Close to schools, shopping and the I-17. No HOA!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Missouri Parkway

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $78k271k

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

Neighborhood: Missouri Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8191567

* 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
Westwood Primary School Primary Regular 933 42 3
Simpson School Middle Regular 831 28 2
Central High School High Regular 2,251 136 3

Westwood Primary School

  • Education Level: Primary
  • # of students: 933
  • # of teachers: 42
3
GreatSchools Rating

Simpson School

  • Education Level: Middle
  • # of students: 831
  • # of teachers: 28
2
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$936$1,144$1,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,040
EXPENSES Loan Payment -$1,070
Property Tax -$159
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
-$337

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.

$289,900

PROJECTED PRICE

$1,040

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.9%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$968

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,040

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $992

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$825
1$8252$1,0403$1,1004$1,1255$1,275
$1,275
RENT COMPS ANALYSIS
  • 1938 W Georgia Avenue Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,153 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,153 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,040
    • $0.90
    •  
  • 2646 W Missouri Avenue Phoenix, AZ 1
    • 3 beds 1 baths ∙ 1,035 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,035 Sqft ∙ Built 1948
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $825
    • $0.80
    •  
  • 2379 W Hazelwood Street Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1965
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.84
    •  
  • 3001 W Elm Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1954
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $0.90
    •  
  • 3122 W Mariposa Street Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1955
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.90
    •  
PROPERTY LISTING DETAILS
Michelle Mojica
Mojica & Associates Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167972
Last Updated: 12/05/2020
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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