Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

21803 N 40th Way Phoenix, AZ 85050

3 Beds 3 Baths 1,648 sqft Built 1999

$425,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $257.89
  • 4 Days on Market
  • MLS # : 6184063
  • Updated Date : 01/22/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,648 sqft
  • Baths : 3 full
Listing Agent

Urban Luxe Real Estate

Listing Agent's Description

Beautiful, remodeled 3 bedrooms plus an office on the 1st floor that can be used as a 4th bedroom, plus 3 full baths! Prime location near Desert Ridge Mall, and the 101 freeway! Corner house featuring New wood looking laminate floors, Nice open kitchen with an island and pantry, Granite counter tops, Stainless Steel appliances, Gas range & updated fixtures. Spacious master bedroom , double vessel sink vanity and a walk-in closet. Enjoy panoramic mountain views from the Master bedroom. Backyard has natural desert landscaping, low maintenance plus a built-in fireplace! The highly sought after Desert Ridge community has much entertainment, community park, shopping, great restaurants, movie theater, music venue and more. Just minutes to the freeway & great A++ schools This is a must see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fiesta at Desert Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Fiesta at Desert Ridge

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
Desert Trails Elementary School Primary Regular 525 33 9
Explorer Middle School Middle Regular 883 35 10
Pinnacle High School High Regular 2,443 96 8

Desert Trails Elementary School

  • Education Level: Primary
  • # of students: 525
  • # of teachers: 33
9
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
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,476
Property Tax -$268
Property Insurance -$59
HOA -$20
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.

$425,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.5%
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$25k

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$44,612

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $2,138

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,9503$2,1004$2,1405$2,150
$2,150
RENT COMPS ANALYSIS
  • 21803 N 40th Way Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,648 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,648 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $1.30
    •  
  • 21838 N 40th Way Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 1998
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.19
    •  
  • 3935 E Rough Rider Road #1264 Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 2015
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.27
    •  
  • 3935 E Rough Rider Road #1292 Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 2016
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.33
    •  
  • 3935 E Rough Rider Road #1348 Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 2017
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.40
    •  
PROPERTY LISTING DETAILS
Helene Khoury
Urban Luxe Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184063
Last Updated: 01/22/2021
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.

BESbswy