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2241 E Pinchot Avenue #F15 Phoenix, AZ 85016

3 Beds 3 Baths 1,702 sqft Built 2006

$350,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $205.64
  • 3 Days on Market
  • MLS # : 6185991
  • Updated Date : 01/29/2021 at 22:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,702 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Prime Central Phoenix Location in the Gated Community of Loma Linda. Pristine & very gently lived in 3 bedroom, 2.5 bath Condo w/ a 2 car garage. Beautifully remodeled property that features a large open living area, white chef's kitchen w/ quartz counters, stainless steel appliances, recessed lighting & ceramic wood plank tile throughout. Spacious primary suite has a large walk-in closet, balcony & full bath. Outside patio is low maintenance & provides a great space for outdoor living. Lots of retail shops close by!

SEE MORE

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
Camelback High School High Regular 2,048 110 4
Phoenix Coding Academy High Regular NA
Phoenix Coding Academy High Unknown NA

Camelback High School

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

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,216
Property Tax -$222
Property Insurance -$60
HOA -$330
Property Management Fees -$99
CASH FLOW
$3

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.

$350,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$16,816

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 #f15 Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2006
    • 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
    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
    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
    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
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.39
    •  
PROPERTY LISTING DETAILS
Rebekah Liperote
Redfin Corporation
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6185991
Last Updated: 01/29/2021
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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