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22409 N 21st Place Phoenix, AZ 85024

3 Beds 2 Baths 1,053 sqft Built 1996

$310,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $294.40
  • 2 Days on Market
  • MLS # : 6165534
  • Updated Date : 11/28/2020 at 08:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,053 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

Great lot that backs up to desert landscape wash. This home offers vaulted ceilings, tile and laminate throughout. Interior and exterior painted in October 2020. Walking distance to elementary and middle schools and a quick drive to hiking trails, mountains, shopping and dining at Desert Ridge or Cave Creek.Seller is related to listing agent.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mountaingate

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Mountaingate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8341981

* 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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,144
Property Tax -$195
Property Insurance -$48
HOA -$9
Property Management Fees -$99
CASH FLOW
-$144

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.

$310,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,960

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
  • $1,240

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5453$1,6004$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 22409 N 21st Place Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,053 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,053 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3150 E Beardsley Road #1070 Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,372 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,372 Sqft ∙ Built 2002
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $1.13
    •  
  • 2725 E Mine Creek Road #1038 Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,381 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,381 Sqft ∙ Built 2008
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.16
    •  
  • 2725 E Mine Creek Road #1030 Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,381 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,381 Sqft ∙ Built 2008
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.19
    •  
  • 2725 E Mine Creek Road #1191 Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,381 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,381 Sqft ∙ Built 2008
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.23
    •  
PROPERTY LISTING DETAILS
Nastassia Vulaj Mozell
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165534
Last Updated: 11/28/2020
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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