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2420 W Silver Sage Lane Phoenix, AZ 85085

3 Beds 2 Baths 1,522 sqft Built 2005

$390,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $256.24
  • 2 Days on Market
  • MLS # : 6206843
  • Updated Date : 03/13/2021 at 04:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,522 sqft
  • Baths : 2 full
Listing Agent

Ridgeway Real Estate Investments

Listing Agent's Description

Hurry, this move in ready 3 bed 2 bath single story home won't last long! Original owner, well taken care of, hardwood floors, all appliances are included, two car garage with epoxy floors and plenty of room for storage! Showings - Sat. 3/13/21 from 11 a.m. - 3 p.m. and Sunday 3/14/21 from 11 a.m. - 3 p.m.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Deer Valley

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Deer Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8411567

* 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
Barry Goldwater High School High Regular 1,856 88 4

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,355
Property Tax -$233
Property Insurance -$57
HOA -$19
Property Management Fees -$99
CASH FLOW
-$223

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.

$390,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$8,095

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,545

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5503$1,6504$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 2420 W Silver Sage Lane Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.01
    •  
  • 27820 N 26th Avenue Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,558 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,558 Sqft ∙ Built 2003
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.99
    •  
  • 2434 W Gambit Trail Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 2001
    property image
    LEASED 01/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 2165 W Barwick Drive Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 2007
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.02
    •  
  • 3029 W Blue Sky Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2002
    property image
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
PROPERTY LISTING DETAILS
Matthew Broek
Ridgeway Real Estate Investments
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206843
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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