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2207 E Heston Drive Phoenix, AZ 85024

4 Beds 3 Baths 2,490 sqft Built 1999

$460,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $184.74
  • 2 Days on Market
  • MLS # : 6157536
  • Updated Date : 11/06/2020 at 19:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,490 sqft
  • Baths : 2 full , 1 half
Listing Agent

Green Leaf Realty, Llc

Listing Agent's Description

One of the largest lots in Boulder Creek, this 4 bed, 2.5 bath 2490 sqft home is the entertainer's dream. From the sparkling pool with mountain views to the open concept floorplan, invite family and friends for the Sunday bbq to late night game nights. Oversized master features sep shower/tub, extended counter, and walk-in closet. Open family room/kitchen features breakfast bar, breakfast nook, large walk-in pantry/laundry, and additional formal dining room. Upstairs features 3 additional bedrooms, master, additional storage closets, and lg loft that is perfect as an extra office/study area, game room, or separate family room. Extended garage w/ sep exit to side yard that features RV gate. Updates include newer AC's, new carpet, and new paint throughout. Solar saves about $102/month net.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Boulder Creek at Desert Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Boulder Creek at Desert Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9342064

* 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
Boulder Creek Elementary School Primary Regular 711 37 9
Boulder Creek Elementary School Middle Regular 711 37 9
Pinnacle High School High Regular 2,443 96 8

Boulder Creek Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 37
9
GreatSchools Rating

Boulder Creek Elementary School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 37
9
GreatSchools Rating

Pinnacle High School

  • Education Level: High
  • # of students: 2,443
  • # of teachers: 96
8
GreatSchools Rating
 

$414,000$506,000$460,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,697
Property Tax -$290
Property Insurance -$76
HOA -$15
Property Management Fees -$99
CASH FLOW
$143

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.

$460,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.3%
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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$46,781

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,627

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,320
1$2,3202$2,4453$2,5954$2,7005$2,850
$2,850
RENT COMPS ANALYSIS
  • 2207 E Heston Drive Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.93
    •  
  • 2439 E Dust Devil Drive Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2007
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,445
    • $1.06
    •  
  • 23003 N 20th Way Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 1996
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.99
    •  
  • 23010 N 20th Way Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 1996
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.03
    •  
  • 23242 N 20th Street Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 2001
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.14
    •  
PROPERTY LISTING DETAILS
Rob Madden
Green Leaf Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157536
Last Updated: 11/06/2020
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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