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2245 W Thomas Road Phoenix, AZ 85015

4 Beds 2 Baths 1,992 sqft Built 1936

$495,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1936
  • Price/Sqft : $248.49
  • 7 Days on Market
  • MLS # : 6152203
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,992 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

This gracious home is an original Phoenix Homestead-on a large lot with mature shade and fruit trees. Built in 1936, and restored over the past 18 months, the home features generously-sized rooms in an easy layout with plenty of natural light, views to the greenery outside. Notice the restored redwood siding and all new Anderson Windows. Inside, enjoy hardwood floors throughout, and a farmhouse kitchen, leading to dining area with french doors opening to a garden room. Master bedroom with a private patio area features new bathroom and walk in closet. The spacious grounds feel like a retreat. Encanto Park nearby, historic neighbors. A great combination of historic charm and modern amenity. Lot split in progress. ask for survey.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Encanto

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Encanto

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8161567

* 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
Heard School Primary Regular 661 33 2
Heard School Middle Regular 661 33 2
Central High School High Regular 2,251 136 3

Heard School

  • Education Level: Primary
  • # of students: 661
  • # of teachers: 33
2
GreatSchools Rating

Heard School

  • Education Level: Middle
  • # of students: 661
  • # of teachers: 33
2
GreatSchools Rating

Central High School

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

$445,500$544,500$495,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,826
Property Tax -$264
Property Insurance -$66
Property Management Fees -$99
CASH FLOW
-$606

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.

$495,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.2%
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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,030

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,957

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8003$1,8754$1,9505$1,965
$1,965
RENT COMPS ANALYSIS
  • 2245 W Thomas Road Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,992 Sqft ∙ Built 1936 4 beds 2 baths ∙ 1,992 Sqft ∙ Built 1936
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 1937 W Weldon Avenue Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1950
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
  • 1904 W Palm Lane #a Phoenix, AZ 3
    • 4 beds 3 baths ∙ 1,943 Sqft ∙ Built 1928 4 beds 3 baths ∙ 1,943 Sqft ∙ Built 1928
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.97
    •  
  • 1905 W Cambridge Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1955
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
  • 2239 W Earll Drive Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,996 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,996 Sqft ∙ Built 1954
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,965
    • $0.98
    •  
PROPERTY LISTING DETAILS
Marcia L Karasek
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152203
Last Updated: 11/13/2020
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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