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21003 N 16th Way Phoenix, AZ 85024

4 Beds 3 Baths 2,679 sqft Built 1997

$575,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $214.63
  • 2 Days on Market
  • MLS # : 6165800
  • Updated Date : 12/19/2020 at 14:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,679 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tru Realty

Listing Agent's Description

Welcome home to this Beautiful Single-Level, 4 Bedroom plus Bonus Room, 2.5 bathroom, Split Floor Plan Home with a Resort style Backyard including a Sparkling Pool, Covered Patio, synthetic Grass and stunning Views of the Mountain Preserve! Large kitchen boasts Granite Kitchen Counter Tops, Double Islands, Dark Cabinetry, Eat-In Kitchen & Desk area open to Family room and a Formal Dining room. Home sits on a premium Oversized, Cul-de-Sac Lot with natural desert behind and a 3 Car Garage. Ceiling Fans, High Ceilings and Tons of Storage throughout. Located minutes from the 101 for quick access to anywhere in Phoenix, surrounded by gorgeous hiking trails Dog Parks, Recreational Areas, Dining & Shopping.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Scarlett Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k437k

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

Neighborhood: Scarlett Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9342294

* 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
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,122
Property Tax -$363
Property Insurance -$79
HOA -$6
Property Management Fees -$99
CASH FLOW
-$38

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.

$575,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.7%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$36,581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,438

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2503$2,4954$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 21003 N 16th Way Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 729 E Irma Lane Phoenix, AZ 2
    • 5 beds 3 baths ∙ 2,766 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,766 Sqft ∙ Built 1999
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.81
    •  
  • 20608 N 8th Street Phoenix, AZ 3
    • 5 beds 3 baths ∙ 2,940 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,940 Sqft ∙ Built 1998
    property image
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.85
    •  
  • 21020 N 16th Way Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 1996
    property image
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.03
    •  
  • 1734 E Beaubien Drive Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,954 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,954 Sqft ∙ Built 1997
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.95
    •  
PROPERTY LISTING DETAILS
Asher Cohen
Tru Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165800
Last Updated: 12/19/2020
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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