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2324 E Woodland Drive Phoenix, AZ 85048

3 Beds 2 Baths 1,812 sqft Built 1992

$389,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $214.68
  • 2 Days on Market
  • MLS # : 6187688
  • Updated Date : 01/30/2021 at 18:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,812 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

Welcome to this amazing turn key home on a quiet, beautiful street, with phenomenal views from every direction. Life is good here on Woodland Drive. N/S exposure brings ample natural lighting inside this 3B/2bath home. Brand new carpet and paint, new stainless appliances(2020) and a new roof, create a worry free investment. Soaring ceilings make home feel large and niches surround the fireplace and kitchen for a cozy feel. Master bedroom has separate exit and Master bath boasts his and her sinks, shower, tub and separate, private toilet room. Come visit and then pack your bags! Your search is over! Welcome Home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Foothills Golf Club

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k459k

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

Neighborhood: Foothills Golf Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9342327

* 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
Kyrene De La Estrella Elementary School Primary Regular 440 27 8
Kyrene Akimel A-al Middle School Middle Regular 1,064 52 8
Desert Vista High School High Regular 3,037 130 8

Kyrene De La Estrella Elementary School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 27
8
GreatSchools Rating

Kyrene Akimel A-al Middle School

  • Education Level: Middle
  • # of students: 1,064
  • # of teachers: 52
8
GreatSchools Rating

Desert Vista High School

  • Education Level: High
  • # of students: 3,037
  • # of teachers: 130
8
GreatSchools Rating
 

$350,100$427,900$389,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,351
Property Tax -$277
Property Insurance -$63
HOA -$6
Property Management Fees -$99
CASH FLOW
$105

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.

$389,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.0%
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$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$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,351

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$30,909

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,084

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9003$1,9504$2,1505$2,250
$2,250
RENT COMPS ANALYSIS
  • 2324 E Woodland Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.05
    •  
  • 15429 S 21st Place Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,817 Sqft ∙ Built 1991 4 beds 2 baths ∙ 1,817 Sqft ∙ Built 1991
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 15415 S 24th Street Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1991
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.18
    •  
  • 2333 E Mountain Vista Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1992
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.19
    •  
  • 2325 E Hiddenview Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1992
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.24
    •  
PROPERTY LISTING DETAILS
Patricia A Bennett
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187688
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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