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2306 W Night Owl Lane Phoenix, AZ 85085

5 Beds 4 Baths 4,623 sqft Built 2003

$654,900

List Price

$2,770

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $141.66
  • 2 Days on Market
  • MLS # : 6168066
  • Updated Date : 12/12/2020 at 02:15
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,623 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

This BEAUTIFUL home is in sought out Amber Hills gated community. The home features a magnificent 10' Iron door with glass panels that open up, gorgeous REAL wood flooring, a formal living area with vaulted ceiling with a cozy fireplace, formal dining area, a family room with a wet bar that is perfect for entertaining, 5 spacious bedrooms plus a den and a large loft area. The gourmet kitchen has high-end SS appliances, espresso cabinetry with undermount lighting, granite countertops, double wall ovens and an island with a gas stove top. The spacious master suite features dual walk-in closets and luxuriously upgraded ensuite. This amazing home sits on a LARGE corner lot with breathtaking mountain views, sport court, built in BBQ, fire pit, covered patio and PLENTY of room for a pool!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Amber Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k478k

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

Neighborhood: Amber Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9342333

* 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 Mountain School Primary Regular 695 42 7
Desert Mountain School Middle Regular 695 42 7
Barry Goldwater High School High Regular 1,856 88 4

Desert Mountain School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
7
GreatSchools Rating

Desert Mountain School

  • Education Level: Middle
  • # of students: 695
  • # of teachers: 42
7
GreatSchools Rating

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$589,410$720,390$654,900

PURCHASE PRICE

$2,493$3,047$2,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,770
EXPENSES Loan Payment -$2,416
Property Tax -$392
Property Insurance -$117
HOA -$36
Property Management Fees -$99
CASH FLOW
-$291

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.

$654,900

PROJECTED PRICE

$2,770

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.2%
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-$5.0k$0.0$5.0k$10k$15k$20k

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$179,299

INVESTMENT

$179,299

Down Payment
$163,725
Rehab Estimate
$5,750
Closing Costs
$9,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,416

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $163,725
Loan Amount $491,175
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$21,026

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,770

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $2,936

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$2,770
1$2,7702$2,7953$2,800
$2,800
RENT COMPS ANALYSIS
  • 2306 W Night Owl Lane Phoenix, AZ 1
    • 5 beds 4 baths ∙ 4,623 Sqft ∙ Built 2003 5 beds 4 baths ∙ 4,623 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,770
    • $0.60
    •  
  • 33817 N 23rd Drive Phoenix, AZ 2
    • 5 beds 4 baths ∙ 4,464 Sqft ∙ Built 2004 5 beds 4 baths ∙ 4,464 Sqft ∙ Built 2004
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.63
    •  
  • 2433 W Horsetail Trail Phoenix, AZ 3
    • 5 beds 4 baths ∙ 4,402 Sqft ∙ Built 2005 5 beds 4 baths ∙ 4,402 Sqft ∙ Built 2005
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.64
    •  
PROPERTY LISTING DETAILS
Tina Terranova
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6168066
Last Updated: 12/12/2020
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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