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202 E Orchid Lane Phoenix, AZ 85020

3 Beds 2 Baths 1,108 sqft Built 1957

$272,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $245.49
  • 3 Days on Market
  • MLS # : 6208783
  • Updated Date : 03/19/2021 at 07:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,108 sqft
  • Baths : 2 full
Listing Agent

Weichert, Realtors - Peak Performance

Listing Agent's Description

Look no further! This 3 bed, 2 bath ranch style home boasts curb appeal, easy-care front landscaping, a 1 car garage. Nearby restaurants, shopping spots, amazing mountain views and more! Step inside and you will find a cozy living area, neutral tile floor, & ceiling fans. The eat-in kitchen features ample cabinetry, tile backsplash, pantry, & stylish counters. The lovely master bedroom includes its very own private bath. Plush carpet in all bedrooms, ample closets, & 2 pristine baths. The wonderful backyard boasts a covered patio, lush grassy area where you can spend quality time with friends and loved ones! Homes this great never last long, hurry and schedule a showing NOW!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Town

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $75k271k

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

Neighborhood: North Town

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7981567

* 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
Desert View Elementary School Primary Regular 454 29 3
Sunnyslope High School High Regular 2,064 88 6

Desert View Elementary School

  • Education Level: Primary
  • # of students: 454
  • # of teachers: 29
3
GreatSchools Rating

Sunnyslope High School

  • Education Level: High
  • # of students: 2,064
  • # of teachers: 88
6
GreatSchools Rating
 

$244,800$299,200$272,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$945
Property Tax -$162
Property Insurance -$49
Property Management Fees -$99
CASH FLOW
$15

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.

$272,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.6%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$77,830

INVESTMENT

$77,830

Down Payment
$68,000
Rehab Estimate
$5,750
Closing Costs
$4,080

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,000
Loan Amount $204,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$17,511

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,357

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2703$1,3954$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 202 E Orchid Lane Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,108 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,108 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $1.15
    •  
  • 8821 N 4th Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 953 Sqft ∙ Built 1946 3 beds 2 baths ∙ 953 Sqft ∙ Built 1946
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.21
    •  
  • 9510 N 2nd Street Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1946
    property image
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.17
    •  
  • 8434 N Central Avenue #b Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1974
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.15
    •  
  • 206 E Butler Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1957
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.37
    •  
PROPERTY LISTING DETAILS
Sheila Renee Liddicoat
Weichert, Realtors - Peak Performance
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6208783
Last Updated: 03/19/2021
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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