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2223 W Sherman Street Phoenix, AZ 85009

3 Beds 2 Baths 1,220 sqft Built 2005

$250,000

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $204.92
  • 4 Days on Market
  • MLS # : 6183518
  • Updated Date : 01/22/2021 at 21:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,220 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Beautiful spacious 3 bedroom, 2 bath ,2 car garage with PRIVATE POOL, RV GATE!!, NO HOA!! This is the home you have been waiting for! Great backyard space with pool. Come see this quick before it is gone!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Central City South

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $68k271k

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

Neighborhood: Central City South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2600700800900100011001200130014001500Rent in $5881567

* 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
Arthur M. Hamilton Elementary School Primary Regular 321 19 1
Arthur M. Hamilton Elementary School Middle Regular 321 19 1
Central High School High Regular 2,251 136 3

Arthur M. Hamilton Elementary School

  • Education Level: Primary
  • # of students: 321
  • # of teachers: 19
1
GreatSchools Rating

Arthur M. Hamilton Elementary School

  • Education Level: Middle
  • # of students: 321
  • # of teachers: 19
1
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$868
Property Tax -$109
Property Insurance -$51
Property Management Fees -$99
CASH FLOW
-$37

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.

$250,000

PROJECTED PRICE

$1,090

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 13.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$12,451

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,090

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,086

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$975
1$9752$9753$9994$1,090
$1,090
RENT COMPS ANALYSIS
  • 2223 W Sherman Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.89
    •  
  • 1629 W Tonto Street #1 Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2006
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $0.89
    •  
  • 1637 W Tonto Street #2 Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2006
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $0.89
    •  
  • 918 S 1st Avenue #2 Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 2004
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $999
    • $0.89
    •  
PROPERTY LISTING DETAILS
Susana Mata
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6183518
Last Updated: 01/22/2021
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.

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