Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2244 Encanto Drive Ne Phoenix, AZ 85007

3 Beds 4 Baths 3,571 sqft Built 1956

INVESTimate

$885,000

List Price

$3,830

$3,580 - $4,080

Rent Est.

$933,675  ( +5.50%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1956
  • Price/Sqft : $247.83
  • 5 Days on Market
  • MLS # : 6118753
  • Updated Date : 08/22/2020 at 16:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,571 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This elegant midcentury residence is situated in the heart of historic & urban Encanto Estates, offering unsurpassed professional, cultural & academic access convenience. The home's half-acre lot provides privacy, adjacent to Encanto Golf Course & Park. 3 private Bed/Bath suites plus Powder - all on one level, featuring: gracious firelit Lvg Rm & Wine Parlor; formal Dining w double french doors onto patio; beautifully modernized Kitchen & Breakfast; Family/Library PLUS huge Bonus/Media/Studio flooded w natural light. Lush grounds w charming gathering opportunity & large swimming complete the living spaces. Oversized Garage w pull-down stair/attic & storage; add. slab parking & fenced pet quarters. Enjoy the unique & charming surroundings & historic tax advantages. Come see today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Encanto Palmcroft

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500kPrice in $91k513k

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

Neighborhood: Encanto Palmcroft

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9342836

* 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
Kenilworth School Primary Regular 591 27 4
Kenilworth School Middle Regular 591 27 4
Central High School High Regular 2,251 136 3

Kenilworth School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 27
4
GreatSchools Rating

Kenilworth School

  • Education Level: Middle
  • # of students: 591
  • # of teachers: 27
4
GreatSchools Rating

Central High School

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

$796,500$973,500$885,000

PURCHASE PRICE

$3,447$4,213$3,830

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,830
EXPENSES Loan Payment -$3,265
Property Tax -$506
Property Insurance -$97
Property Management Fees -$99
CASH FLOW
-$137

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.

$885,000

PROJECTED PRICE

$3,830

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.50%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$240,275

INVESTMENT

$240,275

Down Payment
$221,250
Rehab Estimate
$5,750
Closing Costs
$13,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,265

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $221,250
Loan Amount $663,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$50,154

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
  • $5,071

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$5,000
$5,000
RENT COMPS ANALYSIS
  • 2244 Encanto Drive Ne Phoenix, 1
    • 3 beds 4 baths ∙ 3,571 Sqft ∙ Built 1956 3 beds 4 baths ∙ 3,571 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 153 N Country Club Drive Phoenix, 2
    • 4 beds 4 baths ∙ 3,516 Sqft ∙ Built 1965 4 beds 4 baths ∙ 3,516 Sqft ∙ Built 1965
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $1.42
    •  
PROPERTY LISTING DETAILS
Devon A Connors
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6118753
Last Updated: 08/22/2020
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.

BESbswy