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2317 W Brookhart Way Phoenix, AZ 85085

3 Beds 2 Baths 1,992 sqft Built 2016

$490,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $245.98
  • 3 Days on Market
  • MLS # : 6147858
  • Updated Date : 11/06/2020 at 05:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,992 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Spacious single story located in the highly sought after master planned community of Fireside at Norterra. Light and bright open floor plan has diagonally tiled floors and soft color palette. The large family room has built-in niches and is open to the kitchen, perfect for entertaining. The large eat-in kitchen has custom cabinets, beautiful granite counters, island with breakfast bar seating & pendent lighting, SS appliances and a walk-in pantry. Generous sized bedrooms. Owner's suite has a sliding barn door to the 3/4 bath with a double vanity and walk-in closet. The backyard is an entertainer's delight with a covered patio, firepit/conversation area, children's play area and mature privacy foliage. Fireside amenities include gym, tennis courts, pools, parks and much more!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Gateway

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k395k

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

Neighborhood: North Gateway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342120

* 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
Norterra Canyon School Primary Regular 1,164 59 8
Norterra Canyon School Middle Regular 1,164 59 8
Barry Goldwater High School High Regular 1,856 88 4

Norterra Canyon School

  • Education Level: Primary
  • # of students: 1,164
  • # of teachers: 59
8
GreatSchools Rating

Norterra Canyon School

  • Education Level: Middle
  • # of students: 1,164
  • # of teachers: 59
8
GreatSchools Rating

Barry Goldwater High School

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

$441,000$539,000$490,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,808
Property Tax -$293
Property Insurance -$66
HOA -$72
Property Management Fees -$99
CASH FLOW
-$638

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.

$490,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.3%
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-$10k-$5.0k$0.0$5.0k

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$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$310

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,718

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7504$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 2317 W Brookhart Way Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 2447 W Via Dona Road Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2005
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
  • 2524 W Lucia Drive Phoenix, AZ 3
    • 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 2006
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 2526 W Cordia Lane Phoenix, AZ 4
    • 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 2007
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 2431 W Via Dona Road Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2005
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
PROPERTY LISTING DETAILS
Shelley Sakala
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6147858
Last Updated: 11/06/2020
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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