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1946 W Topeka Drive Phoenix, AZ 85027

4 Beds 2 Baths 1,720 sqft Built 1974

$319,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $185.47
  • 3 Days on Market
  • MLS # : 6189869
  • Updated Date : 02/05/2021 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,720 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Professional Partners

Listing Agent's Description

Masterful design & modern luxury are uniquely embodied in this North Central Phoenix gem. This completely remodeled, 4 bedroom, 2 bath stunner features an open concept entertaining kitchen and living space. Beautiful white shaker soft close cabinets, stainless steel appliances, River White Granite countertops exude modern elegance. Special highlights include updated bathrooms with designer finishes, dual pane energy efficient windows. Large backyard with covered patio is great for entertaining. Close to shopping and restaurants. Close to I-17 and the Loop 101 for an easy commute.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Green Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Green Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7501567

* 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
Deer Valley Middle School Middle Regular 616 31 5
Barry Goldwater High School High Regular 1,856 88 4

Deer Valley Middle School

  • Education Level: Middle
  • # of students: 616
  • # of teachers: 31
5
GreatSchools Rating

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,108
Property Tax -$191
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
$141

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.

$319,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.1%
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$1.2M

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,108

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$32,067

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,686

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,6004$1,6255$1,785
$1,785
RENT COMPS ANALYSIS
  • 1946 W Topeka Drive Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 1628 W Sack Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1973
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 18045 N 20th Drive Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 1972
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
  • 19878 N 17th Lane Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1975
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.03
    •  
  • 2141 W Utopia Road Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1977
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $1.03
    •  
PROPERTY LISTING DETAILS
Amy Mabante
Keller Williams Realty Professional Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189869
Last Updated: 02/05/2021
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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