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2202 E Delgado Street Phoenix, AZ 85022

3 Beds 2 Baths 2,300 sqft Built 1963

$350,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $152.17
  • 3 Days on Market
  • MLS # : 6174994
  • Updated Date : 01/08/2021 at 17:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,300 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty East Valley

Listing Agent's Description

SHOW READY, SCHEDULE NOW! Beautiful! NEWER AC AND SEWER LINES! NO HOA w/ Mountain Views! Welcome to this upgraded, corner lot, open and split floor plan located in the Cactus Gardens community! This home has plenty of features for you and your guests to enjoy... The remodeled kitchen offers plenty of granite countertop space for meal prep or entertaining, includes S/S and black appliances and looks over the spacious great room! There's plenty of cabinet space for your cooking essentials... The entire roof was replaced in 2017. Please see the entire update list. The secondary bedrooms are perfect size for kids or guests and the master bedroom looks out to the low maintenance backyard! Enjoy your favorite glass of wine or read a novel in the quiet setting of the home...

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cactus Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $90k271k

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

Neighborhood: Cactus Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8631567

* 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
Larkspur Elementary School Primary Regular 517 34 4
Shea Middle School Middle Regular 641 37 6
Shadow Mountain High School High Regular 1,390 67 3

Larkspur Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 34
4
GreatSchools Rating

Shea Middle School

  • Education Level: Middle
  • # of students: 641
  • # of teachers: 37
6
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,216
Property Tax -$220
Property Insurance -$72
Property Management Fees -$99
CASH FLOW
$153

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.

$350,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$35,622

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,179

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$1,7953$1,8504$1,8995$2,500
$2,500
RENT COMPS ANALYSIS
  • 2202 E Delgado Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 2,300 Sqft ∙ Built 1963 3 beds 2 baths ∙ 2,300 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.77
    •  
  • 2606 E Yucca Street Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1973
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 3043 E Lupine Avenue Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1969
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 3402 E Lupine Avenue Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,999 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,999 Sqft ∙ Built 1972
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.95
    •  
  • 2265 E Becker Lane Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1974
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
PROPERTY LISTING DETAILS
Carol A. Royse
Keller Williams Realty East Valley
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174994
Last Updated: 01/08/2021
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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