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2128 W Morten Avenue Phoenix, AZ 85021

2 Beds 1 Baths 769 sqft Built 1952

$235,000

List Price

$930

$837 - $1K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $305.59
  • 1 Days on Market
  • MLS # : 6163683
  • Updated Date : 11/21/2020 at 18:58
CONSTRUCTION
  • Beds : 2
  • Floor Size : 769 sqft
  • Baths : 1 full
Listing Agent

Realty One Group

Listing Agent's Description

THIS IS AN OPPORTUNITY FOR A MULTI-FAMILY UNIT TO BE BUILT OR ENJOY THE LARGE LOT AND HOME, WILL BE SOLD AS-IS. DONT MISS OUT ON THIS OPPORTUNITY TO OWN CLOSE TO DOWNTOWN AND ADD EXTRA UNITS IF YOU WANT FOR RENTALS.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7781567

* 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
Orangewood Elementary School Primary Regular 1,016 48 4
Orangewood Elementary School Middle Regular 1,016 48 4
Washington High School High Regular 1,714 73 4

Orangewood Elementary School

  • Education Level: Primary
  • # of students: 1,016
  • # of teachers: 48
4
GreatSchools Rating

Orangewood Elementary School

  • Education Level: Middle
  • # of students: 1,016
  • # of teachers: 48
4
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 73
4
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$837$1,023$930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $930
EXPENSES Loan Payment -$867
Property Tax -$140
Property Insurance -$42
Property Management Fees -$99
CASH FLOW
-$218

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.

$235,000

PROJECTED PRICE

$930

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,359

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $930

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $877

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$849
1$8492$8753$9004$9305$1,075
$1,075
RENT COMPS ANALYSIS
  • 2128 W Morten Avenue Phoenix, AZ 4
    • 2 beds 1 baths ∙ 769 Sqft ∙ Built 1952 2 beds 1 baths ∙ 769 Sqft ∙ Built 1952
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $930
    • $1.21
    •  
  • 2501 W Belmont Avenue #5 Phoenix, AZ 1
    • 2 beds 1 baths ∙ 750 Sqft ∙ Built 1944 2 beds 1 baths ∙ 750 Sqft ∙ Built 1944
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $849
    • $1.13
    •  
  • 6817 N 17th Avenue #15 Phoenix, AZ 2
    • 2 beds 1 baths ∙ 850 Sqft ∙ Built 1962 2 beds 1 baths ∙ 850 Sqft ∙ Built 1962
    property image
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $1.03
    •  
  • 2222 W Morten Avenue Phoenix, AZ 3
    • 2 beds 1 baths ∙ 744 Sqft ∙ Built 1964 2 beds 1 baths ∙ 744 Sqft ∙ Built 1964
    property image
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $1.21
    •  
  • 2339 W Northern Avenue #209 Phoenix, AZ 5
    • 2 beds 2 baths ∙ 900 Sqft ∙ Built 1964 2 beds 2 baths ∙ 900 Sqft ∙ Built 1964
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,075
    • $1.19
    •  
PROPERTY LISTING DETAILS
Janie Benavides
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163683
Last Updated: 11/21/2020
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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