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2420 W Mandalay Lane Phoenix, AZ 85023

4 Beds 3 Baths 2,327 sqft Built 1976

$340,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $146.11
  • 3 Days on Market
  • MLS # : 6206274
  • Updated Date : 03/13/2021 at 00:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,327 sqft
  • Baths : 3 full
Listing Agent

Prime House Llc

Listing Agent's Description

4 bedroom 3 bath tri level home with over 2,300 sq ft, pool double garage, solar (details in docs tab) & no HOA. Quiet Interior Lot is over 8,000 sq ft, good freeway access, close to shopping & schools. Great home for a growing family, 3 bedrooms upstairs with 2 bathrooms and 1 bedroom with bathroom on bottom level. Nice split layout. Above ground spa conveys AS IS. Not currently hooked up.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Canyon Creek Deer Valley

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $86k271k

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

Neighborhood: Canyon Creek Deer Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
Mountain Sky Junior High School Middle Regular 741 35 7
Thunderbird High School High Regular 1,507 63 6

Mountain Sky Junior High School

  • Education Level: Middle
  • # of students: 741
  • # of teachers: 35
7
GreatSchools Rating

Thunderbird High School

  • Education Level: High
  • # of students: 1,507
  • # of teachers: 63
6
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,181
Property Tax -$204
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
$303

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$340,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$51,671

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,054

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,642
1$1,6422$1,6503$1,8604$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 2420 W Mandalay Lane Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,327 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,327 Sqft ∙ Built 1976
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.80
    •  
  • 2934 W Acoma Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 1976
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,642
    • $0.82
    •  
  • 2119 W Tracy Lane Phoenix, AZ 2
    • 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 1995
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 1639 W Acoma Drive Phoenix, AZ 4
    • 3 beds 3 baths ∙ 2,288 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,288 Sqft ∙ Built 1991
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
  • 3009 W Waltann Lane Phoenix, AZ 5
    • 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1978
    property image
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.94
    •  
PROPERTY LISTING DETAILS
Scott Porambo
Prime House Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206274
Last Updated: 03/13/2021
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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