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2243 W Orangewood Avenue Phoenix, AZ 85021

5 Beds 2 Baths 1,944 sqft Built 1958

$339,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $174.38
  • 4 Days on Market
  • MLS # : 6174429
  • Updated Date : 12/26/2020 at 12:21
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,944 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Incredible opportunity to own this charming updated ranch style home with separate casita in a fantastic central location with easy access to dining, shopping, parks, schools, I-17 and so much more. This gem features great curb appeal leading into the light and bright interior with tile flooring and a fluid open floor plan. Spacious kitchen boasts stainless steel appliances and a plethora of cabinetry. Master retreat includes private en suite with a tiled shower. Low maintenance backyard is ready for all of your personal touches. Separate casita, full of possibilities, is perfect for income potential or extended family. Do not miss out. Schedule your private showing today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: New Castle Homes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: New Castle Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8201567

* 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
Orangewood Elementary School Primary Regular 1,016 48 4
Orangewood Elementary School Middle Regular 1,016 48 4
Washington High School High Regular 1,714 73 4

Orangewood Elementary School

  • Education Level: Primary
  • # of students: 1,016
  • # of teachers: 48
4
GreatSchools Rating

Orangewood Elementary School

  • Education Level: Middle
  • # of students: 1,016
  • # of teachers: 48
4
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 73
4
GreatSchools Rating
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,251
Property Tax -$202
Property Insurance -$65
Property Management Fees -$99
CASH FLOW
-$37

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.

$339,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.1%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$21,271

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,672

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,3993$1,5804$1,6955$2,300
$2,300
RENT COMPS ANALYSIS
  • 2243 W Orangewood Avenue Phoenix, AZ 3
    • 5 beds 2 baths ∙ 1,944 Sqft ∙ Built 1958 5 beds 2 baths ∙ 1,944 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.81
    •  
  • 6814 N 30th Avenue Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 1969
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.83
    •  
  • 2240 W Morten Avenue #house Phoenix, AZ 2
    • 5 beds 3 baths ∙ 1,750 Sqft ∙ Built 1950 5 beds 3 baths ∙ 1,750 Sqft ∙ Built 1950
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.80
    •  
  • 2911 W Cactus Wren Drive Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 1972
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
  • 8020 N 17th Drive Phoenix, AZ 5
    • 4 beds 2 baths ∙ 2,271 Sqft ∙ Built 1966 4 beds 2 baths ∙ 2,271 Sqft ∙ Built 1966
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.01
    •  
PROPERTY LISTING DETAILS
Carter Heightsman
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174429
Last Updated: 12/26/2020
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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