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20660 N 40th Street #2150 Phoenix, AZ 85050

2 Beds 2 Baths 1,469 sqft Built 2004

$339,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $230.77
  • 2 Days on Market
  • MLS # : 6168012
  • Updated Date : 12/05/2020 at 02:15
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,469 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Beautiful La Verne Tuscan Style Community. Popular Executive style 2 bedroom - 2 bath with Vaulted Great room, Rich cabinets and Granite Countertops. Lots of windows and natural light! Split bedroom floorplan, Guest bedroom on second level and Master Suite on 3rd level. Each bedroom has its own walk-in closet and balcony! Master bathroom has walk-in shower and dual sinks with granite top. Guest bathroom has soaking tub and granite countertop. This home has two 1 car garages with direct access. Garage floors have epoxy coating. Location can not be beat with access to 51 and 101 close by! Desert Ridge has so much to offer with convenient shopping and restaurants for all your needs! All appliances included.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: La Verne Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $91k784k

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

Neighborhood: La Verne Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000320034003600Rent in $9343693

* 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
Fireside Elementary School Primary Regular 763 38 NA
Explorer Middle School Middle Regular 883 35 10
Pinnacle High School High Regular 2,443 96 8

Fireside Elementary School

  • Education Level: Primary
  • # of students: 763
  • # of teachers: 38
NA
GreatSchools Rating

Explorer Middle School

  • Education Level: Middle
  • # of students: 883
  • # of teachers: 35
10
GreatSchools Rating

Pinnacle High School

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

$305,100$372,900$339,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,251
Property Tax -$214
Property Insurance -$56
HOA -$300
Property Management Fees -$99
CASH FLOW
-$179

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$339,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.36%
Appreciation Year (1-5) 3.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.72%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,970

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,730

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,6753$1,6754$1,7255$1,740
$1,740
RENT COMPS ANALYSIS
  • 20660 N 40th Street #2150 Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $1.18
    •  
  • 20660 N 40th Street #2019 Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,326 Sqft ∙ Built 2008 2 beds 2 baths ∙ 1,326 Sqft ∙ Built 2008
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.26
    •  
  • 20660 N 40th Street #2158 Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2005
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.14
    •  
  • 20660 N 40th Street #2044 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2004
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.14
    •  
  • 20660 N 40th Street #2142 Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2004
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.17
    •  
PROPERTY LISTING DETAILS
Jasmine Hyatt
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6168012
Last Updated: 12/05/2020
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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