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20702 N 38th Street Phoenix, AZ 85050

4 Beds 2 Baths 1,782 sqft Built 2000

$465,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $260.94
  • 4 Days on Market
  • MLS # : 6185826
  • Updated Date : 02/27/2021 at 20:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,782 sqft
  • Baths : 2 full
Listing Agent

Launch Real Estate

Listing Agent's Description

Welcome home! Light & bright 4 bed/2 bath home in the highly desired Wildcat Ridge community of Desert Ridge. This single level home features a spacious eat-in kitchen, great room with fireplace, vaulted ceilings, master suite with walk in closet, double sinks,, soaking tub, and separate shower. Wildcat Ridge is a well maintained, secluded community within walking distance to top PVUSD schools (Fireside ES, Explorer MS, & Pinnacle HS) and the community park which features a sand volleyball court, basketball court, playground, and biking/walking paths. Plus convenient access to multiple major highways (51 & 101) and an abundance of dining & shopping destinations (Desert Ridge Marketplace, City North, & JW Marriott Resort all minutes away). Wonderful home, great opportunit

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Wildcat Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k360k

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

Neighborhood: Wildcat Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9342011

* 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
Explorer Middle School Middle Regular 883 35 10
Pinnacle High School High Regular 2,443 96 8

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
 

$418,500$511,500$465,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,615
Property Tax -$293
Property Insurance -$62
HOA -$13
Property Management Fees -$99
CASH FLOW
$118

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.

$465,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.6%
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

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$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$36,977

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,192

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,0953$2,2004$2,2505$2,450
$2,450
RENT COMPS ANALYSIS
  • 20702 N 38th Street Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.23
    •  
  • 20742 N 38th Street Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2000
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.11
    •  
  • 20902 N 39th Street Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2000
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.18
    •  
  • 20901 N 37th Place Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2000
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.26
    •  
  • 3614 E Monona Drive Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2000
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.37
    •  
PROPERTY LISTING DETAILS
Laura Dye
Launch Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6185826
Last Updated: 02/27/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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