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2225 E Kelton Lane Phoenix, AZ 85022

3 Beds 2 Baths 1,284 sqft Built 1996

$309,000

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $240.65
  • 3 Days on Market
  • MLS # : 6160335
  • Updated Date : 11/13/2020 at 15:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,284 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Clean and move in ready home. Split floorplan with vaulted ceilings. New luxury vinyl flooring throughout and new carpet in bedroom. New interior paint. Nice kitchen with espresso cabinets, pantry, and stainless steel appliances. New ceiling fans and lights throughout. Dual pain windows with 2-inch faux wood blinds. Large master bathroom with dual sinks, separate shower and soaking tub, and private toilet room. Nice backyard with covered patio, pavers, grass. North/South exposure.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dave Brown Bell Road

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Dave Brown Bell Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$1,140
Property Tax -$195
Property Insurance -$52
HOA -$12
Property Management Fees -$99
CASH FLOW
-$278

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.

$309,000

PROJECTED PRICE

$1,220

PROJECTED RENT

0.39%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,345

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,213

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,0503$1,2204$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 2225 E Kelton Lane Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.95
    •  
  • 16033 N 25th Street #107 Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 2004
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.89
    •  
  • 16033 N 25th Street #7 Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 2004
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.89
    •  
  • 1920 E Bell Road #1037 Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 2006
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 17150 N 23rd Street #147 Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,468 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,468 Sqft ∙ Built 2007
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.99
    •  
PROPERTY LISTING DETAILS
Lauren Rosin
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160335
Last Updated: 11/13/2020
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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