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226 E Griswold Road Phoenix, AZ 85020

3 Beds 2 Baths 1,529 sqft Built 1955

$550,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $359.71
  • 6 Days on Market
  • MLS # : 6196339
  • Updated Date : 02/24/2021 at 02:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,529 sqft
  • Baths : 2 full
Listing Agent

Rio Salado Realty, Llc

Listing Agent's Description

Gorgeous remodel with newer pool located between the 7's! The home owners have taken their time and upgraded this home with thought and real quality craftsmanship. Come see this wide open floor plan with upgraded kitchen cabinets, stainless steel appliances, modern fixtures, newer windows and so much more. The pool was built in 2018 and features a large sun shelf, natural gas tiki torches & fire pit and indoor/outdoor speakers. The Solar system and newer energy efficient tinted windows enable you to crank the air down low this summer! This home has been tastefully designed to provide modern comforts while maintaining the mid century charm. This is a very desirable North Central neighborhood. Come see this home today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cactilone Acres

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Cactilone Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8931981

* 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
Desert View Elementary School Primary Regular 454 29 3
Sunnyslope High School High Regular 2,064 88 6

Desert View Elementary School

  • Education Level: Primary
  • # of students: 454
  • # of teachers: 29
3
GreatSchools Rating

Sunnyslope High School

  • Education Level: High
  • # of students: 2,064
  • # of teachers: 88
6
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,910
Property Tax -$328
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$694

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.

$550,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.1%
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$1.6M

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$246

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,923

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7003$1,7754$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 226 E Griswold Road Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.11
    •  
  • 8404 N Central Avenue #c Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,434 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,434 Sqft ∙ Built 1974
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.19
    •  
  • 902 E Seldon Lane Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 1957
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.31
    •  
  • 1042 E El Camino Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1958
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.28
    •  
  • 1026 E Northern Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1958
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.25
    •  
PROPERTY LISTING DETAILS
Bill Brimie
Rio Salado Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6196339
Last Updated: 02/24/2021
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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