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2241 E Pinchot Avenue #E14 Phoenix, AZ 85016

3 Beds 3 Baths 1,702 sqft Built 2004

$385,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $226.20
  • 2 Days on Market
  • MLS # : 6155306
  • Updated Date : 11/02/2020 at 17:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,702 sqft
  • Baths : 2 full , 1 half
Listing Agent

Azhr Premier Realty

Listing Agent's Description

We have a lovely two story townhome in located in East central Phoenix! This home has three bedrooms, two and a half baths, lots of floor tile, high ceilings and a two car garage! This has been a well cared for rental property that under our management has never known a vacancy! Moving to AZ and need a great spot to live? This is it! Shown by appointment only! This is leased until JAN 31, 2021! Call us with any questions you may have today!

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PRICE & RENT TRENDS

Neighborhood: Terrace Condominiums at Green Gables

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $83k343k

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

Neighborhood: Terrace Condominiums at Green Gables

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8621697

* 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
Loma Linda Elementary School Primary Regular 718 36 4
Loma Linda Elementary School Middle Regular 718 36 4
Camelback High School High Regular 2,048 110 4

Loma Linda Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 36
4
GreatSchools Rating

Loma Linda Elementary School

  • Education Level: Middle
  • # of students: 718
  • # of teachers: 36
4
GreatSchools Rating

Camelback High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 110
4
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,420
Property Tax -$244
Property Insurance -$60
HOA -$35
Property Management Fees -$99
CASH FLOW
$101

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.

$385,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.7%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$37,978

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
  • $2,264

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8503$2,4004$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 2241 E Pinchot Avenue #e14 Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2851 E Pinchot Avenue Phoenix, AZ 2
    • 3 beds 4 baths ∙ 1,596 Sqft ∙ Built 2005 3 beds 4 baths ∙ 1,596 Sqft ∙ Built 2005
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.16
    •  
  • 2315 E Pinchot Avenue #101 Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2007
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.34
    •  
  • 1645 E Cheery Lynn Road #12 Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 2019
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.43
    •  
  • 2315 E Pinchot Avenue #106 Phoenix, AZ 5
    • 4 beds 3 baths ∙ 1,794 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,794 Sqft ∙ Built 2007
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.39
    •  
PROPERTY LISTING DETAILS
Shane M. Higginbotham
Azhr Premier Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155306
Last Updated: 11/02/2020
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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