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2322 W Mclellan Boulevard Phoenix, AZ 85015

4 Beds 2 Baths 1,607 sqft Built 1955

$320,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $199.13
  • 3 Days on Market
  • MLS # : 6187460
  • Updated Date : 01/30/2021 at 17:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,607 sqft
  • Baths : 2 full
Listing Agent

A.z. & Associates

Listing Agent's Description

This is your new Home Sweet Home and you are going to love it! Open floor plan with separate living & family rooms & a fireplace. Upgrades all through the kitchen with beautiful maple cabinetry offering tons of storage space, granite countertops, stainless steel appliances. Ceiling fans in all the right places. A backyard with a covered patio that extends nearly the length of the home and a ton of space for you to play, entertain, relax, or even add a future swimming pool. Hurry before this gem is gone. It won't last long. Thanks for checking in for a look.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7781567

* 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
Washington High School High Regular 1,714 73 4

Washington High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 73
4
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,111
Property Tax -$191
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
$10

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.

$320,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$19,899

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,527

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4704$1,4955$1,495
$1,495
RENT COMPS ANALYSIS
  • 2322 W Mclellan Boulevard Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,607 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,607 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.91
    •  
  • 7126 N 19th Avenue #109 Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,408 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,408 Sqft ∙ Built 1970
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 1725 W Marlette Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1970
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 1812 W Claremont Street Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1970
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 6143 N 27th Drive Phoenix, AZ 5
    • 4 beds 3 baths ∙ 1,517 Sqft ∙ Built 1952 4 beds 3 baths ∙ 1,517 Sqft ∙ Built 1952
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
PROPERTY LISTING DETAILS
Ruben Luna
A.z. & Associates
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187460
Last Updated: 01/30/2021
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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