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2249 N Laurel Avenue Phoenix, AZ 85007

2 Beds 1 Baths 862 sqft Built 1931

INVESTimate

$300,000

List Price

$1,070

$963 - $1,177

Rent Est.

$332,670  ( +10.89%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1931
  • Price/Sqft : $348.03
  • 6 Days on Market
  • MLS # : 6118572
  • Updated Date : 08/22/2020 at 08:53
CONSTRUCTION
  • Beds : 2
  • Floor Size : 862 sqft
  • Baths : 1 full
Listing Agent

Arizona Best Real Estate

Listing Agent's Description

Charming 1930's Spanish style bungalow in Fairview Place Historic District...just around the corner from Encanto Park! Fully remodeled in 2003 to include a modernized kitchen, while preserving many of the original features of the home. Wood floors in the main living areas. Inside laundry with mudroom/storage. Spacious backyard with so much potential. And, a garage! The most affordable home in the area...don't miss this opportunity to own a piece of history!

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
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
 

$270,000$330,000$300,000

PURCHASE PRICE

$963$1,177$1,070

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,070
EXPENSES Loan Payment -$1,107
Property Tax -$160
Property Insurance -$44
Property Management Fees -$99
CASH FLOW
-$340

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.

$300,000

PROJECTED PRICE

$1,070

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 10.89%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,071

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,070

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $1,069

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$775
1$7752$8503$8754$1,0705$1,395
$1,395
RENT COMPS ANALYSIS
  • 2249 N Laurel Avenue Phoenix, 4
    • 2 beds 1 baths ∙ 862 Sqft ∙ Built 1931 2 beds 1 baths ∙ 862 Sqft ∙ Built 1931
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,070
    • $1.24
    •  
  • 1610 N 17th Avenue #2 Phoenix, 1
    • 2 beds 1 baths ∙ 630 Sqft ∙ Built 1946 2 beds 1 baths ∙ 630 Sqft ∙ Built 1946
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $775
    • $1.23
    •  
  • 1321 W Mcdowell Road #7 Phoenix, 2
    • 2 beds 1 baths ∙ 689 Sqft ∙ Built 1945 2 beds 1 baths ∙ 689 Sqft ∙ Built 1945
    property image
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $1.23
    •  
  • 1317 W Mcdowell Road #1 Phoenix, 3
    • 2 beds 1 baths ∙ 689 Sqft ∙ Built 1945 2 beds 1 baths ∙ 689 Sqft ∙ Built 1945
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $1.27
    •  
  • 1714 N 17th Avenue Phoenix, 5
    • 2 beds 1 baths ∙ 1,132 Sqft ∙ Built 1916 2 beds 1 baths ∙ 1,132 Sqft ∙ Built 1916
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.23
    •  
PROPERTY LISTING DETAILS
Stephanie Altdoerffer
Arizona Best Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6118572
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.

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