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2504 E Nancy Lane Phoenix, AZ 85042

3 Beds 3 Baths 2,507 sqft Built 2019

$489,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $195.05
  • 4 Days on Market
  • MLS # : 6164069
  • Updated Date : 12/03/2020 at 12:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,507 sqft
  • Baths : 2 full , 1 half
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Looking for a beautiful home in a gated community? You've found it!! As you enter, you will see a spacious den ideal for an office and a bright open floor plan that makes the home feel much larger with room to breathe. Wide open kitchen showcases big island for prep & breakfast bar, high-end appliances, pantry, cabinetry space, and granite counters. The master bedroom offers a lavish master bath comprised of double sinks, rain shower, and walk-in closet. Serene backyard is perfect to relax while enjoying a glass of wine with its covered patio, artificial turf, and an area ideal for a gazebo. Come see this home for yourself. Schedule a showing today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: South Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: South Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7291567

* 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
T.g. Barr School Primary Regular 516 29 2
T.g. Barr School Middle Regular 516 29 2
South Mountain High School High Regular 1,706 102 2

T.g. Barr School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 29
2
GreatSchools Rating

T.g. Barr School

  • Education Level: Middle
  • # of students: 516
  • # of teachers: 29
2
GreatSchools Rating

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating
 

$440,100$537,900$489,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,804
Property Tax -$318
Property Insurance -$76
HOA -$149
Property Management Fees -$99
CASH FLOW
-$336

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$489,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.56%
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$1.6M$1.8M

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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,585

INVESTMENT

$131,585

Down Payment
$122,250
Rehab Estimate
$2,000
Closing Costs
$7,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,804

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,250
Loan Amount $366,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$8,040

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,169

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9753$2,0004$2,1105$2,750
$2,750
RENT COMPS ANALYSIS
  • 2504 E Nancy Lane Phoenix, AZ 4
    • 3 beds 3 baths ∙ 2,507 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,507 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.84
    •  
  • 5216 S 16th Place Phoenix, AZ 1
    • 4 beds 4 baths ∙ 2,247 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,247 Sqft ∙ Built 2018
    LEASED 06/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 2639 E Darrel Road Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2000
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.78
    •  
  • 1722 E Grenadine Road Phoenix, AZ 3
    • 4 beds 4 baths ∙ 2,247 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,247 Sqft ∙ Built 2017
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
  • 2454 E Glass Lane Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,836 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,836 Sqft ∙ Built 2001
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Adam Prather
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164069
Last Updated: 12/03/2020
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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