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

2051 E Cielo Grande Avenue Phoenix, AZ 85024

3 Beds 3 Baths 2,676 sqft Built 1996

$450,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $168.16
  • 4 Days on Market
  • MLS # : 6166998
  • Updated Date : 12/04/2020 at 18:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,676 sqft
  • Baths : 3 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

THIS HOME IS PRICED TO SELL!! If you want walking trails and natural landscaping/buttes throughout your community, you have come to the right place! This home is in Mountain Gate, a wonderful community situated conveniently close to Loop 101 & Hwy 51. It's also just down Deer Valley from the Reach 11 Sports Complex. The Reach 11 Rec Area is a 1,500-acre district park, app. 7 miles long & less than 1/2 mile wide. It runs East & West along the N. side of the Central Arizona Project canal. There are 18 miles of multi-use trails available in this area. After all of that outdoors-y activity, you will want to come home to this gorgeous home featuring fresh new Thermal-Coat paint at the exterior, which comes w/ a 20 year labor & material warranty.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mountaingate

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Mountaingate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8341981

* 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
Boulder Creek Elementary School Primary Regular 711 37 9
Boulder Creek Elementary School Middle Regular 711 37 9
Pinnacle High School High Regular 2,443 96 8

Boulder Creek Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 37
9
GreatSchools Rating

Boulder Creek Elementary School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 37
9
GreatSchools Rating

Pinnacle High School

  • Education Level: High
  • # of students: 2,443
  • # of teachers: 96
8
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,660
Property Tax -$300
Property Insurance -$79
HOA -$9
Property Management Fees -$99
CASH FLOW
$153

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.

$450,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$20k$25k

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$46,898

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,622

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5003$2,5954$2,6005$2,700
$2,700
RENT COMPS ANALYSIS
  • 2051 E Cielo Grande Avenue Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,676 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,676 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
  • 1833 E Patrick Lane Phoenix, AZ 2
    • 4 beds 4 baths ∙ 2,677 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,677 Sqft ∙ Built 2004
    LEASED 06/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.93
    •  
  • 23003 N 20th Way Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 1996
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.99
    •  
  • 1834 E Patrick Lane Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 2004
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
  • 23010 N 20th Way Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 1996
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Kriste Melcher
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6166998
Last Updated: 12/04/2020
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