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

2038 N 15th Avenue Phoenix, AZ 85007

4 Beds 2 Baths 1,666 sqft Built 1946

INVESTimate

$384,900

List Price

$1,880

$1,692 - $2,068

Rent Est.

$426,816  ( +10.89%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1946
  • Price/Sqft : $231.03
  • 2 Days on Market
  • MLS # : 6122249
  • Updated Date : 08/25/2020 at 02:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,666 sqft
  • Baths : 2 full
Listing Agent

North & Co

Listing Agent's Description

This charming historic 4-bedroom, 2 bath house in Fairview Place is ready and waiting. This home is move in ready with updated kitchen and bathrooms and tile flooring throughout. The detached 2 car garage and shed add extra space for tools and toys. The gated front patio is the perfect place for that morning cup of coffee as the sun rises over Encanto park. In the late afternoon and evening relax under the pergola in your spacious backyard or stroll through the loved surrounding historic neighborhoods. Situated just off Downtown Phoenix, the neighborhood provides quick access to night life, restaurants, sporting events, all the great amenities at Encanto Park and airport access. Setup your private showing today.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fairview Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $84k358k

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

Neighborhood: Fairview Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8551981

* 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
Heard School Primary Regular 661 33 2
Heard School Middle Regular 661 33 2
Central High School High Regular 2,251 136 3

Heard School

  • Education Level: Primary
  • # of students: 661
  • # of teachers: 33
2
GreatSchools Rating

Heard School

  • Education Level: Middle
  • # of students: 661
  • # of teachers: 33
2
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
GreatSchools Rating
 

$346,410$423,390$384,900

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,420
Property Tax -$205
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
$96

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.

$384,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 10.89%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,749

INVESTMENT

$107,749

Down Payment
$96,225
Rehab Estimate
$5,750
Closing Costs
$5,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,225
Loan Amount $288,675
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$37,422

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
  • $1,849

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5953$1,8754$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 2038 N 15th Avenue Phoenix, 1
    • 4 beds 2 baths ∙ 1,666 Sqft ∙ Built 1946 4 beds 2 baths ∙ 1,666 Sqft ∙ Built 1946
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1904 W Holly Street Phoenix, 2
    • 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 1930 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 1930
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.06
    •  
  • 1601 N 13th Avenue Phoenix, 3
    • 3 beds 2 baths ∙ 1,821 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,821 Sqft ∙ Built 1951
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.03
    •  
  • 2914 N 17th Avenue Phoenix, 4
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1947
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.09
    •  
  • 1609 W Vernon Avenue Phoenix, 5
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1940
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.26
    •  
PROPERTY LISTING DETAILS
Gretchen E Munn
North & Co
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122249
Last Updated: 08/25/2020
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