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2318 W Cholla Street Phoenix, AZ 85029

4 Beds 3 Baths 1,795 sqft Built 1964

$340,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $189.42
  • 5 Days on Market
  • MLS # : 6171758
  • Updated Date : 12/16/2020 at 13:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,795 sqft
  • Baths : 3 full
Listing Agent

Delex Realty

Listing Agent's Description

GREAT HOME IN NORTH/CENTRAL PHOENIX . OPEN FLOORPLAN FOR THE KITCHEN, DINING, AND FAMILY ROOM. THE EAT IN KITCHEN HAS PLETHORA OF CABINETS, APPLIANCES, AND PANTRY. LARGE BACKYARD WITH AN RV GATE AND 2 CAR GARAGE FOR ALL YOUR TOYS. CLOSE TO SCHOOLS AND SHOPPING. A 15 MINUTE DRIVE WILL TAKE YOU TO WESTGATE ENTERTAIMENT CENTER AND SHOPPING, DOWNTOWN PHOENIX SPORTS ARENA AND BASEBALL STADIUM.THERE ARE 4 BEDROOMS AND 3 BATHROOMS: ONE FOR EACH MEMBER OF THE FAMILY. TILE FLOORING THROUGHT THE HOUSE. BRAND NEW A/C UNIT REPLACED THIS PAST SUMMER, AND HOME WAS PROFESIONALLY REMODELED BACK IN 2016.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $88k271k

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

Neighborhood: North Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8821567

* 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
Shaw Butte Elementary School Primary Regular 1,011 48 3
Mountain Sky Junior High School Middle Regular 741 35 7
Thunderbird High School High Regular 1,507 63 6

Shaw Butte Elementary School

  • Education Level: Primary
  • # of students: 1,011
  • # of teachers: 48
3
GreatSchools Rating

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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,254
Property Tax -$203
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$178

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.

$340,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$10,673

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,526

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4403$1,4504$1,4505$1,485
$1,485
RENT COMPS ANALYSIS
  • 2318 W Cholla Street Phoenix, AZ 2
    • 4 beds 3 baths ∙ 1,795 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,795 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.80
    •  
  • 3037 W Charter Oak Road Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1960
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 12425 N 30th Avenue Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 1960
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 2529 W Wethersfield Road Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1963
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 2328 W Altadena Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1969
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $0.85
    •  
PROPERTY LISTING DETAILS
Sergio Duarte
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6171758
Last Updated: 12/16/2020
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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