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20660 N 40th Street #2155 Phoenix, AZ 85050

2 Beds 2 Baths 1,469 sqft Built 2008

$318,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $216.47
  • 3 Days on Market
  • MLS # : 6147655
  • Updated Date : 11/06/2020 at 02:15
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,469 sqft
  • Baths : 1 full , 1 half
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Gorgeous 2 bed/2 bath north Phoenix Townhome available in La Verne Condominiums. Excellent gated community with superb resort style amenities including a pool and spa, clubhouse, media room, workout facility and so much more. Must see interior is sure to impress with a spacious open concept floor plan, soaring vaulted ceilings, neutral paint tones and beautiful wood flooring throughout. Amazing kitchen will delight any chef with SS appliances, sleek stone countertops, stylish tile backsplash and a breakfast bar. Dual master retreats, each with a walk in closet and private en-suite. Enjoy a book or beverage on the balcony. All within easy reach of the Loop 101, Desert Ridge Mall, and everything North Phoenix has to offer. Don't miss this one!!

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
 

$286,200$349,800$318,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,173
Property Tax -$200
Property Insurance -$56
HOA -$276
Property Management Fees -$99
CASH FLOW
-$114

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.

$318,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.53%

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-$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$90,020

INVESTMENT

$90,020

Down Payment
$79,500
Rehab Estimate
$5,750
Closing Costs
$4,770

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,500
Loan Amount $238,500
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$8,646

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,700

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6753$1,6754$1,6755$1,690
$1,690
RENT COMPS ANALYSIS
  • 20660 N 40th Street #2155 Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2008 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.15
    •  
  • 20660 N 40th Street #2165 Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2008 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2008
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.09
    •  
  • 20660 N 40th Street #2019 Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,326 Sqft ∙ Built 2008 2 beds 2 baths ∙ 1,326 Sqft ∙ Built 2008
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.26
    •  
  • 20660 N 40th Street #2158 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2005
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.14
    •  
  • 20660 N 40th Street #2044 Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,469 Sqft ∙ Built 2004
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.14
    •  
PROPERTY LISTING DETAILS
Michael Sheahan
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6147655
Last Updated: 11/06/2020
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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