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22011 N 29th Drive Phoenix, AZ 85027

3 Beds 3 Baths 1,558 sqft Built 2000

$294,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $189.28
  • 2 Days on Market
  • MLS # : 6177644
  • Updated Date : 01/09/2021 at 16:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,558 sqft
  • Baths : 2 full , 1 half
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

COMING SOON! Beautiful 3 bed/2.5bath on a corner lot in Phoenix! This home boasts an open floor plan, a 2 car garage, low maintenance landscaping, & newly remodeled wood tile floors! Chef's kitchen is equipped with a Samsung fridge, a black electric stove, SS appliances, ample storage & counter space & a pantry! The master bedroom features a full bath with dual sinks, an oversized oval tub & 2 large walk-in closets. The backyard showcases a cozy covered patio & pavers. Photos & 3D virtual tour to come!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Adobe Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $82k271k

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

Neighborhood: Adobe Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7481567

* 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
Paseo Hills School Primary Regular 959 56 5
Paseo Hills School Middle Regular 959 56 5
Barry Goldwater High School High Regular 1,856 88 4

Paseo Hills School

  • Education Level: Primary
  • # of students: 959
  • # of teachers: 56
5
GreatSchools Rating

Paseo Hills School

  • Education Level: Middle
  • # of students: 959
  • # of teachers: 56
5
GreatSchools Rating

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$265,410$324,390$294,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,024
Property Tax -$177
Property Insurance -$58
HOA -$70
Property Management Fees -$99
CASH FLOW
$103

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$294,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$83,899

INVESTMENT

$83,899

Down Payment
$73,725
Rehab Estimate
$5,750
Closing Costs
$4,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,024

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,725
Loan Amount $221,175
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$26,602

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,577

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,5153$1,5304$1,5505$1,625
$1,625
RENT COMPS ANALYSIS
  • 22011 N 29th Drive Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,558 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,558 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.98
    •  
  • 21649 N 30th Avenue Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,443 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,443 Sqft ∙ Built 1996
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.96
    •  
  • 22227 N 29th Drive Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,558 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,558 Sqft ∙ Built 2002
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,515
    • $0.97
    •  
  • 3138 W Williams Drive Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,465 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,465 Sqft ∙ Built 1994
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
  • 22209 N 29th Drive Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,529 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,529 Sqft ∙ Built 2003
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.06
    •  
PROPERTY LISTING DETAILS
David Arustamian
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6177644
Last Updated: 01/09/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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