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2114 E Saltsage Drive Phoenix, AZ 85048

3 Beds 3 Baths 1,686 sqft Built 1994

$384,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $228.29
  • 7 Days on Market
  • MLS # : 6182484
  • Updated Date : 01/31/2021 at 04:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,686 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Great home in Ahwatukee. 3 bedrooms plus den. Bedrooms upstairs and den down. Open kitchen with great room. Neutral colors. Private yard. Close to great schools, parks, hiking and shopping. Freshly painted and updated backyard !

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mountain Park Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k379k

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

Neighborhood: Mountain Park Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Kyrene De La Estrella Elementary School Primary Regular 440 27 8
Kyrene Akimel A-al Middle School Middle Regular 1,064 52 8
Desert Vista High School High Regular 3,037 130 8

Kyrene De La Estrella Elementary School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 27
8
GreatSchools Rating

Kyrene Akimel A-al Middle School

  • Education Level: Middle
  • # of students: 1,064
  • # of teachers: 52
8
GreatSchools Rating

Desert Vista High School

  • Education Level: High
  • # of students: 3,037
  • # of teachers: 130
8
GreatSchools Rating
 

$346,410$423,390$384,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,337
Property Tax -$274
Property Insurance -$60
HOA -$6
Property Management Fees -$99
CASH FLOW
-$136

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.

$384,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,749

INVESTMENT

$107,749

Down Payment
$96,225
Rehab Estimate
$5,750
Closing Costs
$5,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,225
Loan Amount $288,675
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,577

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,741

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6403$1,7954$1,7955$1,799
$1,799
RENT COMPS ANALYSIS
  • 2114 E Saltsage Drive Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.97
    •  
  • 2134 E Saltsage Drive E Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1994
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 2036 E Windsong Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1994
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.20
    •  
  • 15429 S 21st Place Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,817 Sqft ∙ Built 1991 4 beds 2 baths ∙ 1,817 Sqft ∙ Built 1991
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 2161 E Nighthawk Way Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1994
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $1.03
    •  
PROPERTY LISTING DETAILS
Rajesh R Vijayakumar
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6182484
Last Updated: 01/31/2021
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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