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2313 W Waltann Lane Phoenix, AZ 85023

4 Beds 3 Baths 2,048 sqft Built 1974

$335,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $163.57
  • 2 Days on Market
  • MLS # : 6206821
  • Updated Date : 03/13/2021 at 18:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,048 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

It's a great start, you can finish and give it your own style. All the high dollar things are finished. Beautifully remodeled kitchen with highly upgraded cherry cabinets & beautiful granite counter tops, wall removed for an open feel, widow relocated over the sink & Dutch/farm door added to from the kitchen to the back yard. Pergo wood-look floors in the living room & kitchen. ALL NEW energy efficient dual pane windows. New French doors in the family room. Vintage (ok, ''original'') bathrooms, keep the cool look or remodel. Large grassy backyard includes Garden plot with water (or dog run) & full block wall fencing. Updated siding & newer exterior paint. Seller offering $5K credit for paint & carpet.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Ponderosa Homes North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Ponderosa Homes North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9041567

* 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
Mountain Sky Junior High School Middle Regular 741 35 7
Thunderbird High School High Regular 1,507 63 6

Mountain Sky Junior High School

  • Education Level: Middle
  • # of students: 741
  • # of teachers: 35
7
GreatSchools Rating

Thunderbird High School

  • Education Level: High
  • # of students: 1,507
  • # of teachers: 63
6
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,164
Property Tax -$200
Property Insurance -$67
Property Management Fees -$99
CASH FLOW
$220

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$335,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$42,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,935

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,6503$1,7504$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 2313 W Waltann Lane Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 15033 N 30th Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1970
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.89
    •  
  • 16273 N 29th Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1979
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 14445 N 18th Drive Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,002 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,002 Sqft ∙ Built 1979
    property image
    LEASED 02/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
  • 1639 W Acoma Drive Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,288 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,288 Sqft ∙ Built 1991
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
PROPERTY LISTING DETAILS
Shannon R Everett
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206821
Last Updated: 03/13/2021
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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