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2427 E Larkspur Drive Phoenix, AZ 85032

3 Beds 2 Baths 1,380 sqft Built 1969

$380,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $275.36
  • 4 Days on Market
  • MLS # : 6192652
  • Updated Date : 02/13/2021 at 04:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,380 sqft
  • Baths : 2 full
Listing Agent

Arizona International Real Estate

Listing Agent's Description

Don't pass up this fully remodeled 3 Bedroom / 2 Bathroom home. This home has it all .... Kitchen has new Cabinets, Countertops, new plumbing and stainless steel appliances. Bathrooms have been completely updated from top to bottom. New flooring throughout the house. All new dual pane windows. Roof is 5 years old. New interior exterior paint.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cactus Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $90k271k

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

Neighborhood: Cactus Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8631567

* 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
Shea Middle School Middle Regular 641 37 6
Shadow Mountain High School High Regular 1,390 67 3

Shea Middle School

  • Education Level: Middle
  • # of students: 641
  • # of teachers: 37
6
GreatSchools Rating

Shadow Mountain High School

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

$342,000$418,000$380,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,320
Property Tax -$240
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$33

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.

$380,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$20,578

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,684

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6803$1,6954$1,8455$1,975
$1,975
RENT COMPS ANALYSIS
  • 2427 E Larkspur Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.22
    •  
  • 2407 E Sylvia Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1969
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.24
    •  
  • 2709 E Corrine Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 1972
    property image
    LEASED 12/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.15
    •  
  • 2413 E Aster Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1971
    property image
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.22
    •  
  • 2619 E Aster Drive Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,551 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,551 Sqft ∙ Built 1972
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.27
    •  
PROPERTY LISTING DETAILS
Katie Haslam
Arizona International Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192652
Last Updated: 02/13/2021
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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