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2446 E Aster Drive Phoenix, AZ 85032

3 Beds 2 Baths 1,215 sqft Built 1971

INVESTimate

$345,000

List Price

$1,380

$1,242 - $1,518

Rent Est.

$368,805  ( +6.90%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $283.95
  • 7 Days on Market
  • MLS # : 6120266
  • Updated Date : 08/20/2020 at 18:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,215 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Situated on a corner lot, this updated cul de sac home has a lot to offer! Built in 1971 and remodeled in 2015, this house has an open floor plan with modern updates throughout. As you enter through the front door you will notice the large windows and sliding glass door that brings in lots of natural light. The living area flows directly into the kitchen featuring stainless steel appliances, granite countertops, and a spacious island. The dining room is an extension of the kitchen and offers easy access to the backyard. This professionally landscaped yard has a sprawling lawn, mature trees, and brick paver patio! Overlooking the serene backyard is the master bedroom complete with an en suite bathroom and large closet. This home offers two additional bedrooms,

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Clearview

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Clearview

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
Larkspur Elementary School Primary Regular 517 34 4
Shea Middle School Middle Regular 641 37 6
Shadow Mountain High School High Regular 1,390 67 3

Larkspur Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 34
4
GreatSchools Rating

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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$1,273
Property Tax -$217
Property Insurance -$51
Property Management Fees -$99
CASH FLOW
-$260

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.

$345,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.90%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,206

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,455

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2993$1,4994$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 2446 E Aster Drive Phoenix, 1
    • 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 12250 N Escobar Way Phoenix, 2
    • 3 beds 2 baths ∙ 1,148 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,148 Sqft ∙ Built 1965
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.13
    •  
  • 3033 E Corrine Drive Phoenix, 3
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1971
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.16
    •  
  • 13022 N 21st Place Phoenix, 4
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1979
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.22
    •  
  • 2407 E Sylvia Street Phoenix, 5
    • 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1969
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.28
    •  
PROPERTY LISTING DETAILS
Michael Sheahan
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120266
Last Updated: 08/20/2020
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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