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2242 N Laurel Avenue Phoenix, AZ 85007

3 Beds 1 Baths 1,176 sqft Built 1946

$400,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1946
  • Price/Sqft : $340.14
  • 7 Days on Market
  • MLS # : 6201289
  • Updated Date : 03/25/2021 at 18:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,176 sqft
  • Baths : 1 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Welcome to the most charming house on the block. Located in Encanto Village with quick access to the freeway and minutes from Downtown dining and adventure. Open into the main living area. The tile flooring chosen is gorgeous to keep the space bright and simple. Continue to the eat in kitchen. Your eye will gravitate to the beautiful light fixture ahead but wait for it... how fun is this kitchen! Blue cabinets with white subway backsplash, pipe shelving, granite countertops and stainless steel appliances. So. Dang. Cute! 3 bedrooms. The bathroom runs a close race with the kitchen in style. This little gem offers a lot of pop. Detached 1 car shop/garage in the back. Could be converted to little casita. Historical vintage vibe in this quaint neighborhood.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fairview Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $84k358k

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

Neighborhood: Fairview Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8551981

* 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
Central High School High Regular 2,251 136 3
Phoenix Coding Academy High Regular NA
Phoenix Coding Academy High Unknown NA

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
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
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,389
Property Tax -$213
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
-$282

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.

$400,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 10.9%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$5,213

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
  • $1,344

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2493$1,5554$1,5755$1,595
$1,595
RENT COMPS ANALYSIS
  • 2242 N Laurel Avenue Phoenix, AZ 1
    • 3 beds 1 baths ∙ 1,176 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,176 Sqft ∙ Built 1946
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1907 W Monte Vista Road Phoenix, AZ 2
    • 4 beds 1 baths ∙ 1,096 Sqft ∙ Built 1935 4 beds 1 baths ∙ 1,096 Sqft ∙ Built 1935
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $1.14
    •  
  • 2443 N 20th Avenue Phoenix, AZ 3
    • 3 beds 1 baths ∙ 1,340 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,340 Sqft ∙ Built 1952
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,555
    • $1.16
    •  
  • 550 W Cambridge Avenue Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 1945 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 1945
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.12
    •  
  • 3318 N 15th Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1947
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.15
    •  
PROPERTY LISTING DETAILS
Steve Valentine
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6201289
Last Updated: 03/25/2021
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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