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2338 E Lupine Avenue Phoenix, AZ 85028

4 Beds 2 Baths 2,343 sqft Built 1978

$529,900

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $226.16
  • 17 Days on Market
  • MLS # : 6156367
  • Updated Date : 11/21/2020 at 19:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,343 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Fantastic Mountain Preserve location - hiking and biking just steps away. Expansive living and dining space with vaulted ceilings makes this home an entertainer's delight. French doors in living area with exposed block wall and fireplace create a warm inviting atmosphere. Three bedrooms and bathroom downstairs. An ultra-private upstairs master retreat that includes a sitting room, dual walk-in closets and North and South facing balconies that offer exceptional views. Kitchen boasts SS and black appliances, breakfast bar and eat in kitchen space. Attractive oversized tile and porcelain wood like planks in all living areas and office. Carpet in the bedrooms. Large backyard with multiple covered and open dining patios, beautifully remodeled pool, mature citrus trees and mountain views

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Vista

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k436k

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

Neighborhood: Desert Vista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9342290

* 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
Mercury Mine Elementary School Primary Regular 546 27 8
Mercury Mine Elementary School Middle Regular 546 27 8
Shadow Mountain High School High Regular 1,390 67 3

Mercury Mine Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Mercury Mine Elementary School

  • Education Level: Middle
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Shadow Mountain High School

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

$476,910$582,890$529,900

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,955
Property Tax -$334
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
-$181

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.

$529,900

PROJECTED PRICE

$2,280

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.2%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,174

INVESTMENT

$146,174

Down Payment
$132,475
Rehab Estimate
$5,750
Closing Costs
$7,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,955

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,475
Loan Amount $397,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$21,384

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,484

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,280
1$2,2802$2,2993$2,4004$2,5005$2,900
$2,900
RENT COMPS ANALYSIS
  • 2338 E Lupine Avenue Phoenix, AZ 1
    • 4 beds 2 baths ∙ 2,343 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,343 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.97
    •  
  • 1040 E Shangri La Road Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1991
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,299
    • $1.02
    •  
  • 3602 E Charter Oak Road Phoenix, AZ 3
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1974 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1974
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.09
    •  
  • 2265 E Becker Lane Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1974
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
  • 10625 N 25th Street Phoenix, AZ 5
    • 4 beds 2 baths ∙ 2,535 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,535 Sqft ∙ Built 1972
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.14
    •  
PROPERTY LISTING DETAILS
Richard L Ferguson
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156367
Last Updated: 11/21/2020
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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