Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2008 W Gardenia Drive Phoenix, AZ 85021

3 Beds 2 Baths 1,220 sqft Built 1959

$305,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $250.00
  • 5 Days on Market
  • MLS # : 6164675
  • Updated Date : 11/25/2020 at 14:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,220 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

You'll love this newly renovated 3 bedroom, 2 bath home with an oversized backyard! This home features and open floorplan, new custom, white shaker cabinets, quartz countertops, recessed lighting, beautiful custom tile designs throughout. The exterior features all new paint, landscaping, & new walkway. This home is a must see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: New Castle Homes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: New Castle Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8201567

* 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
Orangewood Elementary School Primary Regular 1,016 48 4
Orangewood Elementary School Middle Regular 1,016 48 4
Washington High School High Regular 1,714 73 4

Orangewood Elementary School

  • Education Level: Primary
  • # of students: 1,016
  • # of teachers: 48
4
GreatSchools Rating

Orangewood Elementary School

  • Education Level: Middle
  • # of students: 1,016
  • # of teachers: 48
4
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 73
4
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$1,125
Property Tax -$182
Property Insurance -$51
Property Management Fees -$99
CASH FLOW
-$147

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.

$305,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,150

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
  • $1,437

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1503$1,4954$1,5455$1,550
$1,550
RENT COMPS ANALYSIS
  • 2008 W Gardenia Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7221 N 26th Drive Phoenix, AZ 2
    • 3 beds 1 baths ∙ 1,047 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,047 Sqft ∙ Built 1947
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.10
    •  
  • 1945 W Gardenia Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1959
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.23
    •  
  • 7318 N 20th Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 1959
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $1.25
    •  
  • 2233 W Belmont Avenue Phoenix, AZ 5
    • 3 beds 1 baths ∙ 1,375 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,375 Sqft ∙ Built 1955
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.13
    •  
PROPERTY LISTING DETAILS
Laura A Batista
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164675
Last Updated: 11/25/2020
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.

BESbswy