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2021 W Palmaire Avenue Phoenix, AZ 85021

3 Beds 2 Baths 1,859 sqft Built 1970

$382,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $205.49
  • 6 Days on Market
  • MLS # : 6194868
  • Updated Date : 02/17/2021 at 19:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,859 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

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

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PRICE & RENT TRENDS

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7781567

* 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
Washington High School High Regular 1,714 73 4

Washington High School

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

$343,800$420,200$382,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,327
Property Tax -$228
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
-$77

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.

$382,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.8%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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$106,980

INVESTMENT

$106,980

Down Payment
$95,500
Rehab Estimate
$5,750
Closing Costs
$5,730

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,327

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,500
Loan Amount $286,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$16,618

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,817

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,5954$1,6405$1,885
$1,885
RENT COMPS ANALYSIS
  • 2021 W Palmaire Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.88
    •  
  • 1812 W Claremont Street Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1970
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 1814 W Vista Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1954
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 2430 W Augusta Avenue Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 1990
    LEASED 01/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
  • 1945 W Keim Drive Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,011 Sqft ∙ Built 1952 4 beds 3 baths ∙ 2,011 Sqft ∙ Built 1952
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.94
    •  
PROPERTY LISTING DETAILS
Lisa A Soltesz
Opendoor Brokerage, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6194868
Last Updated: 02/17/2021
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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