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1960 W Black Hill Road Phoenix, AZ 85085

4 Beds 3 Baths 2,344 sqft Built 2008

$457,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $194.97
  • 7 Days on Market
  • MLS # : 6152880
  • Updated Date : 10/29/2020 at 09:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,344 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Phoenix two-story home offers a patio, granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Gateway

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k395k

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

Neighborhood: North Gateway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342120

* 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
Norterra Canyon School Primary Regular 1,164 59 8
Norterra Canyon School Middle Regular 1,164 59 8
Barry Goldwater High School High Regular 1,856 88 4

Norterra Canyon School

  • Education Level: Primary
  • # of students: 1,164
  • # of teachers: 59
8
GreatSchools Rating

Norterra Canyon School

  • Education Level: Middle
  • # of students: 1,164
  • # of teachers: 59
8
GreatSchools Rating

Barry Goldwater High School

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

$411,300$502,700$457,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,686
Property Tax -$274
Property Insurance -$73
HOA -$44
Property Management Fees -$99
CASH FLOW
-$196

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.

$457,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.3%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,855

INVESTMENT

$126,855

Down Payment
$114,250
Rehab Estimate
$5,750
Closing Costs
$6,855

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,686

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,250
Loan Amount $342,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$15,224

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,133

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,980
1$1,9802$2,0003$2,0504$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 1960 W Black Hill Road Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.84
    •  
  • 28118 N 18th Lane Phoenix, AZ 2
    • 5 beds 3 baths ∙ 2,278 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,278 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 28005 N 23rd Drive Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 2002
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.94
    •  
  • 1815 W Fetlock Trail Phoenix, AZ 4
    • 3 beds 3 baths ∙ 2,474 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,474 Sqft ∙ Built 2013
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 1751 W Desperado Way Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 2013
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.93
    •  
PROPERTY LISTING DETAILS
Lisa Soltesz
Opendoor Brokerage, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152880
Last Updated: 10/29/2020
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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