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2520 E Electra Lane Phoenix, AZ 85024

6 Beds 4 Baths 4,168 sqft Built 2007

$599,000

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $143.71
  • 4 Days on Market
  • MLS # : 6186341
  • Updated Date : 02/05/2021 at 15:58
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,168 sqft
  • Baths : 4 full
Listing Agent

Hague Partners

Listing Agent's Description

This beauty is a MUST SEE and comes with 6 bedrooms, 4 bathrooms PLUS a loft and a bonus room!! It is spacious with an open kitchen that has LOTS of cabinet space and an island too! It has a huge living room with tiling throughout! The house is built for a big family or for those who love having people over and entertaining... The backyard has been completely redone with an added pool and an oasis feel, at night turn on the string lights and be ready to sit back and relax.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Peak

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k481k

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

Neighborhood: Desert Peak

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9342452

* 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 Trail Middle School Middle Regular 714 29 7
Pinnacle High School High Regular 2,443 96 8

Mountain Trail Middle School

  • Education Level: Middle
  • # of students: 714
  • # of teachers: 29
7
GreatSchools Rating

Pinnacle High School

  • Education Level: High
  • # of students: 2,443
  • # of teachers: 96
8
GreatSchools Rating
 

$539,100$658,900$599,000

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,980
EXPENSES Loan Payment -$2,081
Property Tax -$420
Property Insurance -$108
HOA -$19
Property Management Fees -$99
CASH FLOW
$253

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$599,000

PROJECTED PRICE

$2,980

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 1.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$56,457

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,980

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $3,209

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,980
1$2,9802$3,000
$3,000
RENT COMPS ANALYSIS
  • 2520 E Electra Lane Phoenix, AZ 1
    • 6 beds 4 baths ∙ 4,168 Sqft ∙ Built 2007 6 beds 4 baths ∙ 4,168 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $0.71
    •  
  • 2534 E Mine Creek Road Phoenix, AZ 2
    • 7 beds 4 baths ∙ 3,903 Sqft ∙ Built 2007 7 beds 4 baths ∙ 3,903 Sqft ∙ Built 2007
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.77
    •  
PROPERTY LISTING DETAILS
Teresa M Herriot
Hague Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186341
Last Updated: 02/05/2021
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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