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1953 E Montebello Avenue Phoenix, AZ 85016

4 Beds 3 Baths 2,881 sqft Built 2005

$949,000

List Price

$3,220

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $329.40
  • 3 Days on Market
  • MLS # : 6165172
  • Updated Date : 11/28/2020 at 12:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,881 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Newer construction w/no HOA in a highly desirable West Biltmore neighborhood! Approach thru the tall stone circular entryway & walk into the foyer w/tall ceilings & views to the great room & the paver back patio. Note the formal dining room w/mahogany tongue & groove ceiling to your left as you move into the main living area. The open kitchen w/a large kitchen island has ample seating space for guests & serving, as well as the large casual dining area nearby, both opening to the large great room perfect for entertaining! Kitchen w/Alder cabs, granite counters, custom lighting & a Wolf gas range! The 4 BDRMs incl a split BDRM w/a separate exit & 1/2 bath (great office/workspace)! Two drives accommodate 6 to 8 cars. Mtn views & 2 min drive to Biltmore Fashion Park, shopping & dining!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Beverly Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k381k

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

Neighborhood: Beverly Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341983

* 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 1 Middle School Primary Regular 923 50 7
Madison 1 Middle School Middle Regular 923 50 7
North High School High Regular 2,616 128 5

Madison 1 Middle School

  • Education Level: Primary
  • # of students: 923
  • # of teachers: 50
7
GreatSchools Rating

Madison 1 Middle School

  • Education Level: Middle
  • # of students: 923
  • # of teachers: 50
7
GreatSchools Rating

North High School

  • Education Level: High
  • # of students: 2,616
  • # of teachers: 128
5
GreatSchools Rating
 

$854,100$1,043,900$949,000

PURCHASE PRICE

$2,898$3,542$3,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,220
EXPENSES Loan Payment -$3,501
Property Tax -$682
Property Insurance -$83
Property Management Fees -$99
CASH FLOW
-$1,146

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.

$949,000

PROJECTED PRICE

$3,220

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.6%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,235

INVESTMENT

$257,235

Down Payment
$237,250
Rehab Estimate
$5,750
Closing Costs
$14,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,501

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,237

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
  • $3,983

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,7004$4,2005$4,795
$4,795
RENT COMPS ANALYSIS
  • 1953 E Montebello Avenue Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,881 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,881 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6745 N 13th Street Phoenix, AZ 2
    • 3 beds 3 baths ∙ 2,663 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,663 Sqft ∙ Built 2006
    property image
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.13
    •  
  • 6823 N 14th Street Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2004
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.38
    •  
  • 6510 N 27th Street Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,973 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,973 Sqft ∙ Built 1997
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.41
    •  
  • 2137 E Rancho Drive Phoenix, AZ 5
    • 5 beds 3 baths ∙ 2,971 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,971 Sqft ∙ Built 1995
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,795
    • $1.61
    •  
PROPERTY LISTING DETAILS
Robert Williams
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165172
Last Updated: 11/28/2020
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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