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2304 E Monterosa Street Phoenix, AZ 85016

4 Beds 2 Baths 1,752 sqft Built 1951

$495,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $282.53
  • 6 Days on Market
  • MLS # : 6180412
  • Updated Date : 01/21/2021 at 20:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,752 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

This Immaculate Home has Pride of Ownership Featuring: 4 bedrooms,2 baths, updated Kitchen with Stainless Steel appliances, Gas stove, Granite slab counter tops, Maple cabinets,Travertine & Bamboo floors, Dining Room, over sized corner lot with lush mature trees & landscaping, remote gate into a large slab parking, 2 car carport w/ a 9 x 14 workshop/shed.Close to the Biltmore, financial district, airport, downtown & uptown plus bike riding/walking distance to some of the best restaurants & bars Phoenix has to offer.Seller requests that everyone entering the home please wear a mask.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Manana Vista Dos

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k298k

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

Neighborhood: Manana Vista Dos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621595

* 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
Madison Camelview Elementary School Primary Regular 689 33 4
Madison Park Middle School Middle Regular 423 22 4
Camelback High School High Regular 2,048 110 4

Madison Camelview Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 33
4
GreatSchools Rating

Madison Park Middle School

  • Education Level: Middle
  • # of students: 423
  • # of teachers: 22
4
GreatSchools Rating

Camelback High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 110
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,719
Property Tax -$341
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
-$421

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.

$495,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.7%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$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

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 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,633

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
  • $1,962

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,8504$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 2304 E Monterosa Street Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2524 E Clarendon Avenue Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,606 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,606 Sqft ∙ Built 1955
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 3824 N 30th Street Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1966 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1966
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.13
    •  
  • 2330 E Fairmount Avenue Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,701 Sqft ∙ Built 1948 4 beds 2 baths ∙ 1,701 Sqft ∙ Built 1948
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.17
    •  
  • 2215 E Heatherbrae Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1949
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.15
    •  
PROPERTY LISTING DETAILS
Diane Hons
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6180412
Last Updated: 01/21/2021
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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