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23914 N 23rd Way Phoenix, AZ 85024

4 Beds 2 Baths 2,157 sqft Built 2011

$507,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $235.05
  • 5 Days on Market
  • MLS # : 6155555
  • Updated Date : 11/06/2020 at 16:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,157 sqft
  • Baths : 2 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Come see this beautiful move-in ready home! Built in 2011 by D.R. Horton, this home is in immaculate shape and truly move-in ready. Offering 4 bedrooms, 2 bathrooms and a stunning pool outback, look no further as this home is for you! The split floor plan and vaulted ceilings provide a large open family room and kitchen, great for entertaining. The oversized kitchen island and extended cabinetry also provide for plenty of storage. Outback you will find the custom pool, built in BBQ and low maintenance upkeep with new turf. Both bathrooms have also been upgraded providing granite countertops and new fixtures. New custom bamboo flooring provided in the bedrooms. Maximize efficiency in the summers with the 3-zone controlled HVAC system.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mountaingate Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500k550kPrice in $91k571k

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

Neighborhood: Mountaingate Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9342575

* 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
Boulder Creek Elementary School Primary Regular 711 37 9
Boulder Creek Elementary School Middle Regular 711 37 9
Pinnacle High School High Regular 2,443 96 8

Boulder Creek Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 37
9
GreatSchools Rating

Boulder Creek Elementary School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 37
9
GreatSchools Rating

Pinnacle High School

  • Education Level: High
  • # of students: 2,443
  • # of teachers: 96
8
GreatSchools Rating
 

$456,300$557,700$507,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,871
Property Tax -$319
Property Insurance -$69
HOA -$85
Property Management Fees -$99
CASH FLOW
-$363

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.

$507,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,105

INVESTMENT

$140,105

Down Payment
$126,750
Rehab Estimate
$5,750
Closing Costs
$7,605

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,871

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $126,750
Loan Amount $380,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$7,605

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,259

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,025
1$2,0252$2,0803$2,1954$2,2995$2,445
$2,445
RENT COMPS ANALYSIS
  • 23914 N 23rd Way Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,157 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,157 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.96
    •  
  • 2163 E Vista Bonita Drive Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 1999
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $1.00
    •  
  • 2322 E Mine Creek Road Phoenix, AZ 3
    • 3 beds 3 baths ∙ 2,236 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,236 Sqft ∙ Built 2010
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.98
    •  
  • 24212 N 21st Place Phoenix, AZ 4
    • 5 beds 3 baths ∙ 1,998 Sqft ∙ Built 2019 5 beds 3 baths ∙ 1,998 Sqft ∙ Built 2019
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,299
    • $1.15
    •  
  • 2439 E Dust Devil Drive Phoenix, AZ 5
    • 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2007
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,445
    • $1.06
    •  
PROPERTY LISTING DETAILS
Matt Huff
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155555
Last Updated: 11/06/2020
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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