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2241 W Larkspur Drive Phoenix, AZ 85029

4 Beds 2 Baths 1,623 sqft Built 1971

$339,999

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $209.49
  • 3 Days on Market
  • MLS # : 6156859
  • Updated Date : 12/04/2020 at 12:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,623 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

HONEY STOP THE CAR !!!! THIS 4 BED 2 BATH STUNNER WONT LAST LONG..THERE IS A BRAND NEW 5TON AC UNIT ,AN ADDITIONAL 250 SQ FT IS NOW COOLED AND CAN BE YOUR NEW FAMILY ROOM.THERE IS NEW QUALITY PLANK FLOORING IN MAIN AREA,NEW CARPET IN BEDROOMS. ALL NEW FANS,HARDWARE,PAINT,BLINDSTHE KITCHEN HAS NEW GRANITE AND NEWER APPLIANCES.THE ROOF IS NEWER. THE POOL IS PEBBLE TECH WITH A NICE COVERED PATIO OUT BACK.THERE ARE NUMEROUS STORAGE AREAS OUT BACK TOO.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $88k271k

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

Neighborhood: North Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8821567

* 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
Shaw Butte Elementary School Primary Regular 1,011 48 3
Mountain Sky Junior High School Middle Regular 741 35 7
Thunderbird High School High Regular 1,507 63 6

Shaw Butte Elementary School

  • Education Level: Primary
  • # of students: 1,011
  • # of teachers: 48
3
GreatSchools Rating

Mountain Sky Junior High School

  • Education Level: Middle
  • # of students: 741
  • # of teachers: 35
7
GreatSchools Rating

Thunderbird High School

  • Education Level: High
  • # of students: 1,507
  • # of teachers: 63
6
GreatSchools Rating
 

$305,999$373,999$339,999

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,254
Property Tax -$185
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
-$197

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.

$339,999

PROJECTED PRICE

$1,400

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.4%
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$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $254,999
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$9,658

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,444

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4504$1,4855$1,575
$1,575
RENT COMPS ANALYSIS
  • 2241 W Larkspur Drive Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,623 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,623 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 1621 W Surrey Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1971
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 2529 W Wethersfield Road Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1963
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 2328 W Altadena Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1969
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $0.85
    •  
  • 13129 N 21st Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 1962
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.95
    •  
PROPERTY LISTING DETAILS
Karen M. Dunston
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156859
Last Updated: 12/04/2020
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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