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2206 E Gretta Place #place #Place Phoenix, AZ 85022

2 Beds 2 Baths 1,016 sqft Built 1975

$215,000

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $211.61
  • 4 Days on Market
  • MLS # : 6167046
  • Updated Date : 12/24/2020 at 15:32
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,016 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Welcome to this beautiful home in a 55+ community. Beautiful 2 bedroom home with an enclosed AZ room. Additional backyard space with mountain views, located on a cul-de-sac, this home makes for a great retreat. Community has a pool and club house. Roof was professionally repaired along with outside painting both with 12 year warranty. Great location near freeway access, grocery, restaurants and so much more.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Paradise Valley Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Paradise Valley Village

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
Aire Libre Elementary School Primary Regular 378 28 4
Aire Libre Elementary School Middle Regular 378 28 4
North Canyon High School High Regular 1,957 86 4

Aire Libre Elementary School

  • Education Level: Primary
  • # of students: 378
  • # of teachers: 28
4
GreatSchools Rating

Aire Libre Elementary School

  • Education Level: Middle
  • # of students: 378
  • # of teachers: 28
4
GreatSchools Rating

North Canyon High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 86
4
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$793
Property Tax -$135
Property Insurance -$47
HOA -$46
Property Management Fees -$99
CASH FLOW
$29

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.

$215,000

PROJECTED PRICE

$1,150

PROJECTED RENT

0.53%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$17,040

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
  • $1,019

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$8953$9954$9995$1,100
$1,100
RENT COMPS ANALYSIS
  • 2206 E Gretta Place #place Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,016 Sqft ∙ Built 1975 2 beds 2 baths ∙ 1,016 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2426 E Waltann Lane #1 Phoenix, AZ 2
    • 2 beds 2 baths ∙ 963 Sqft ∙ Built 1982 2 beds 2 baths ∙ 963 Sqft ∙ Built 1982
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.93
    •  
  • 15402 N 28th Street #129 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 946 Sqft ∙ Built 1984 2 beds 2 baths ∙ 946 Sqft ∙ Built 1984
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $1.05
    •  
  • 15402 N 28th Street #207 Phoenix, AZ 4
    • 2 beds 2 baths ∙ 946 Sqft ∙ Built 1984 2 beds 2 baths ∙ 946 Sqft ∙ Built 1984
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $999
    • $1.06
    •  
  • 16635 N Cave Creek Road #119 Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,134 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,134 Sqft ∙ Built 1984
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.97
    •  
PROPERTY LISTING DETAILS
Samara Jo Glassman
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167046
Last Updated: 12/24/2020
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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