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2313 E Montecito Avenue Phoenix, AZ 85016

2 Beds 1 Baths 1,030 sqft Built 1953

$415,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $402.91
  • 5 Days on Market
  • MLS # : 6204899
  • Updated Date : 03/10/2021 at 04:28
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,030 sqft
  • Baths : 1 full
Listing Agent

Homesmart

Listing Agent's Description

Investor, flipper. two new beams and demolitions is done waiting for your final touch. Prime Biltmore area location. This adorable 2 BR (plus bonus room), 1 Bath home is in one of Phoenix's premier locations. Minutes from just about anything you desire. Pride of ownership is obvious. Home has been improved through the years. Mix of carpet and tile throughout. AC replaced in 2017. Electric service upgraded to 200 amp in 2000. Copper pipes. This home is a must see gem on a perfect piece of property in a premier location.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cavalier Villa

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Cavalier Villa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Camelback High School High Regular 2,048 110 4
Phoenix Coding Academy High Regular NA

Madison Camelview Elementary School

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

Camelback High School

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

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,441
Property Tax -$298
Property Insurance -$47
Property Management Fees -$99
CASH FLOW
-$336

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.

$415,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,351

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
  • $1,542

    COMP ESTIMATED VALUE
  • $1.5

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2503$1,4504$1,5345$1,585
$1,585
RENT COMPS ANALYSIS
  • 2313 E Montecito Avenue Phoenix, AZ 1
    • 2 beds 1 baths ∙ 1,030 Sqft ∙ Built 1953 2 beds 1 baths ∙ 1,030 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2019 E Turney Avenue #2r Phoenix, AZ 2
    • 2 beds 1 baths ∙ 875 Sqft ∙ Built 1960 2 beds 1 baths ∙ 875 Sqft ∙ Built 1960
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.43
    •  
  • 4401 N 21st Street #9 Phoenix, AZ 3
    • 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1971 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1971
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.45
    •  
  • 2434 E Amelia Avenue Phoenix, AZ 4
    • 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1950 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1950
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,534
    • $1.53
    •  
  • 2432 E Amelia Avenue Phoenix, AZ 5
    • 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1950 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1950
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $1.59
    •  
PROPERTY LISTING DETAILS
Heintje Tjahja
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6204899
Last Updated: 03/10/2021
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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