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2312 N 31st Place Phoenix, AZ 85008

4 Beds 3 Baths 1,999 sqft Built 1951

$439,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $219.61
  • 7 Days on Market
  • MLS # : 6176747
  • Updated Date : 01/04/2021 at 18:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,999 sqft
  • Baths : 2 full , 1 half
Listing Agent

Congress Realty, Inc.

Listing Agent's Description

Beautifully Remodeled - Near the Arcadia Area in Phoenix This stunning 2000 sq. ft. single story home with 4-bedrooms and 2.5-bath is nestled close to the nearby Arcadia area. This beautiful home boasts a desert designed landscape in the front with minimal vegetation to reduce the water footprint. The drip system makes it easy to maintain the addition of plants that can be added later. The back yard has been professionally designed with a lovely array of desert plants along with a unique rock border with tinges of real turquoise that captures the green winter grass. This design features a new landscaping system that is completely programmable. The exterior has hard-wired security lighting for your safety and it has a new roof and A/C for years of comfort and pleasure.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Oak Park Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $80k271k

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

Neighborhood: Oak Park Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Monte Vista Elementary School Primary Regular 721 43 4
Monte Vista Elementary School Middle Regular 721 43 4
Camelback High School High Regular 2,048 110 4

Monte Vista Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 43
4
GreatSchools Rating

Monte Vista Elementary School

  • Education Level: Middle
  • # of students: 721
  • # of teachers: 43
4
GreatSchools Rating

Camelback High School

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

$395,100$482,900$439,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,525
Property Tax -$278
Property Insurance -$66
Property Management Fees -$99
CASH FLOW
-$198

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.

$439,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.8%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$122,085

INVESTMENT

$122,085

Down Payment
$109,750
Rehab Estimate
$5,750
Closing Costs
$6,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,525

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,750
Loan Amount $329,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$11,594

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,189

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,770
1$1,7702$1,7903$1,9994$2,0005$2,350
$2,350
RENT COMPS ANALYSIS
  • 2312 N 31st Place Phoenix, AZ 1
    • 4 beds 3 baths ∙ 1,999 Sqft ∙ Built 1951 4 beds 3 baths ∙ 1,999 Sqft ∙ Built 1951
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.89
    •  
  • 2027 N 28th Place Phoenix, AZ 2
    • 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 1950 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 1950
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.08
    •  
  • 2617 N 27th Street Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 1943 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 1943
    property image
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.10
    •  
  • 1231 N 34th Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1955 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1955
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
  • 2943 E Earll Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 1950
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.20
    •  
PROPERTY LISTING DETAILS
Jared A English
Congress Realty, Inc.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176747
Last Updated: 01/04/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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