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2319 E Marmora Street Phoenix, AZ 85022

2 Beds 2 Baths 1,152 sqft Built 1966

$319,500

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1966
  • Price/Sqft : $277.34
  • 3 Days on Market
  • MLS # : 6153900
  • Updated Date : 11/02/2020 at 11:37
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,152 sqft
  • Baths : 1 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Solid Built Block, Single Story Home With Large Bedrooms in a Great Location Near Schools, Parks, Piestewa Peak Freeway 51, Dining, Entertaining, and Much More! A 304 SF Bonus Room (Non-ducted) being used as a 3rd Bedroom, a 26 x 26 Detached Workshop with Roll-Up Doors Front and Back w/ Ally Access and a 2 Car Garage. Covered Patio and NO HOA!!! Home to be Sold in As-Is Condition!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cactus Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $90k271k

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

Neighborhood: Cactus Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8631567

* 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
Larkspur Elementary School Primary Regular 517 34 4
Shea Middle School Middle Regular 641 37 6
Shadow Mountain High School High Regular 1,390 67 3

Larkspur Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 34
4
GreatSchools Rating

Shea Middle School

  • Education Level: Middle
  • # of students: 641
  • # of teachers: 37
6
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$287,550$351,450$319,500

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$1,179
Property Tax -$201
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
-$359

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.

$319,500

PROJECTED PRICE

$1,170

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,418

INVESTMENT

$90,418

Down Payment
$79,875
Rehab Estimate
$5,750
Closing Costs
$4,793

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,179

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,875
Loan Amount $239,625
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,384

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,083

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$750
1$7502$7993$8954$1,1705$1,375
$1,375
RENT COMPS ANALYSIS
  • 2319 E Marmora Street Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1966 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $1.02
    •  
  • 2216 E Eugie Terrace #101 Phoenix, AZ 1
    • 2 beds 1 baths ∙ 850 Sqft ∙ Built 1985 2 beds 1 baths ∙ 850 Sqft ∙ Built 1985
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $750
    • $0.88
    •  
  • 2216 E Eugie Terrace #107 Phoenix, AZ 2
    • 2 beds 1 baths ∙ 850 Sqft ∙ Built 1984 2 beds 1 baths ∙ 850 Sqft ∙ Built 1984
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $799
    • $0.94
    •  
  • 2217 E Cactus Road #3 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 900 Sqft ∙ Built 1979 2 beds 2 baths ∙ 900 Sqft ∙ Built 1979
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.99
    •  
  • 2346 E Poinsettia Drive Phoenix, AZ 5
    • 2 beds 1 baths ∙ 1,446 Sqft ∙ Built 1968 2 beds 1 baths ∙ 1,446 Sqft ∙ Built 1968
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.95
    •  
PROPERTY LISTING DETAILS
Robert Rudder
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6153900
Last Updated: 11/02/2020
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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