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2327 N 31st Street Phoenix, AZ 85008

3 Beds 2 Baths 1,734 sqft Built 1951

$349,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $201.79
  • 4 Days on Market
  • MLS # : 6207538
  • Updated Date : 03/18/2021 at 18:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,734 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Location, Location, Location! This large 1951 home offers 3 large sized bedrooms, with 2 bathrooms on 1,734 sqft of space. Backyard is super spacious with a metal shed that conveys with home. Enjoy parking your toys with a rear entry RV Gate. As a bonus this home, also has a full size independent guest suit with a full kitchen and bath, independent entrance, and access to the backyard. This home does require repairs, and is sold as-is.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Oak Park Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $80k271k

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

Neighborhood: Oak Park Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Camelback High School High Regular 2,048 110 4
Phoenix Coding Academy High Unknown NA
Phoenix Coding Academy High Regular NA

Camelback High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 110
4
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,215
Property Tax -$222
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
$53

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.

$349,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.8%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$25,384

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,046

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7903$1,8004$1,9505$2,095
$2,095
RENT COMPS ANALYSIS
  • 2327 N 31st Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1951
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 2027 N 28th Place Phoenix, AZ 2
    • 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 1950 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 1950
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.08
    •  
  • 2502 E Avalon Drive Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,552 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,552 Sqft ∙ Built 1950
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.16
    •  
  • 3424 E Coronado Road Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1955
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.23
    •  
  • 3437 E Holly Street Phoenix, AZ 5
    • 4 beds 3 baths ∙ 1,673 Sqft ∙ Built 1954 4 beds 3 baths ∙ 1,673 Sqft ∙ Built 1954
    property image
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.25
    •  
PROPERTY LISTING DETAILS
Diana M Mendoza
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6207538
Last Updated: 03/18/2021
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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