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2042 E Oak Street Phoenix, AZ 85006

3 Beds 2 Baths 1,364 sqft Built 1935

$340,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1935
  • Price/Sqft : $249.27
  • 2 Days on Market
  • MLS # : 6170669
  • Updated Date : 12/12/2020 at 10:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,364 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Check out this charming, 1935 Spanish Revival bungalow with loads of character and rare detached CASITA / GUEST HOUSE that is separately metered, making it a perfect rental/Airbnb, or generational living setup. Main home boasts classic features w/original hardwood floors, Saltillo tile, and a gorgeous wood-burning fireplace w/custom mantel. Step through the arched entry into your formal dining room, while the breeze blows through double doors that lead to your private, spacious backyard. The living-room provides tons of natural light and showstopper fireplace. A large kitchen w/plenty of counter space, 2 beds + bath and bonus basement space round out the home. NEW ROOF installed 2018. NEW interior and exterior paint. Guest home features kitchen, breakfast bar, bathroom and w/covered patio.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Avalon

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $72k271k

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

Neighborhood: Avalon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7011567

* 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
William T. Machan Elementary School Primary Regular 503 33 2
William T. Machan Elementary School Middle Regular 503 33 2
Camelback High School High Regular 2,048 110 4

William T. Machan Elementary School

  • Education Level: Primary
  • # of students: 503
  • # of teachers: 33
2
GreatSchools Rating

William T. Machan Elementary School

  • Education Level: Middle
  • # of students: 503
  • # of teachers: 33
2
GreatSchools Rating

Camelback High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 110
4
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,254
Property Tax -$216
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$63

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.

$340,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$18,953

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,650

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5603$1,6004$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 2042 E Oak Street Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1935
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.14
    •  
  • 1733 E Willetta Street Phoenix, AZ 1
    • 3 beds 1 baths ∙ 1,196 Sqft ∙ Built 1944 3 beds 1 baths ∙ 1,196 Sqft ∙ Built 1944
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.25
    •  
  • 2427 E Avalon Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1947
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.19
    •  
  • 1940 E Monte Vista Road Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1935
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.24
    •  
  • 2502 E Avalon Drive Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,552 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,552 Sqft ∙ Built 1950
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.16
    •  
PROPERTY LISTING DETAILS
Mark W Daker
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170669
Last Updated: 12/12/2020
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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