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

22 E Surrey Avenue Phoenix, AZ 85022

4 Beds 2 Baths 2,374 sqft Built 1979

$625,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $263.27
  • 2 Days on Market
  • MLS # : 6206987
  • Updated Date : 03/13/2021 at 17:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,374 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Stunning remodeled home on one of the largest lots in the subdivision with rare 3 car garage, in a quiet Moon Valley neighborhood. The elegant interior boasts an open floor plan with wood ''look'' tile floors, cozy fireplace, wet bar, upgraded light fixtures throughout, vaulted ceilings and cool contemporary palette.. The gorgeous kitchen offers new grey cabinetry w/quartz countertops, subway tile and stainless steel appliances. New plush carpet/padding in all bedroom. The beautiful master bedroom boasts a private bath with dual sinks, as well as access to the expansive backyard. Covered patio, refreshing fenced pool perfect for the warm summer days, & endless blue skies. This is a great property. Will not last.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Shadow Rock Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k408k

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

Neighborhood: Shadow Rock Estates

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
Mountain Sky Junior High School Middle Regular 741 35 7
Thunderbird High School High Regular 1,507 63 6

Mountain Sky Junior High School

  • Education Level: Middle
  • # of students: 741
  • # of teachers: 35
7
GreatSchools Rating

Thunderbird High School

  • Education Level: High
  • # of students: 1,507
  • # of teachers: 63
6
GreatSchools Rating
 

$562,500$687,500$625,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$2,171
Property Tax -$373
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
-$766

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.

$625,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.5%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$355

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
  • $2,095

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7953$2,0954$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 22 E Surrey Avenue Phoenix, AZ 1
    • 4 beds 2 baths ∙ 2,374 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,374 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 13802 N 11th Street Phoenix, AZ 2
    • 3 beds 2 baths ∙ 2,186 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,186 Sqft ∙ Built 1985
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.82
    •  
  • 101 W Kathleen Road Phoenix, AZ 3
    • 4 beds 2 baths ∙ 2,345 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,345 Sqft ∙ Built 1979
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.89
    •  
  • 1274 E Voltaire Avenue Phoenix, AZ 4
    • 3 beds 3 baths ∙ 2,436 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,436 Sqft ∙ Built 1997
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 1639 W Acoma Drive Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,288 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,288 Sqft ∙ Built 1991
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
PROPERTY LISTING DETAILS
Matt M. Borkowski
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206987
Last Updated: 03/13/2021
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