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2520 E Highland Avenue Phoenix, AZ 85016

3 Beds 2 Baths 1,313 sqft Built 1955

$450,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $342.73
  • 3 Days on Market
  • MLS # : 6201759
  • Updated Date : 03/05/2021 at 08:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,313 sqft
  • Baths : 1 full , 1 half
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Don't settle for less than the best location in the valley! Centrally located near the Biltmore shopping center, Town & Country (Whole Foods, Trader Joes, Pizzeria Bianco & more) and cute as all get out!! So much style in this 3 bed 2 bath home has been rebuilt (studs up 2012) and then restyled (2017-2020) to bring you the best of mid-century living with today's modern conveniences. Polished concrete flooring runs throughout, new baseboards, hardware and lighting as well as dual pane windows and the coolest automated blinds make this home gorgeous and efficient. Open concept kitchen with quartz counters, refinished cabinetry, marble hex backsplash, custom wood islandand s/s appliances make for a fantastic place to entertain. Lot's to love and in this market, don't blink or it'll be gone

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cavalier Campus

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Cavalier Campus

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Madison Camelview Elementary School Primary Regular 689 33 4
Camelback High School High Regular 2,048 110 4
Phoenix Coding Academy High Regular NA

Madison Camelview Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 33
4
GreatSchools Rating

Camelback High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 110
4
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,563
Property Tax -$323
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
-$208

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.

$450,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.1%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$10,704

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $1,963

    COMP ESTIMATED VALUE
  • $1.49

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,8003$1,8304$1,9505$2,375
$2,375
RENT COMPS ANALYSIS
  • 2520 E Highland Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.39
    •  
  • 4315 N 28th Street #14 Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1974
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.39
    •  
  • 2440 E Coolidge Street Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,137 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,137 Sqft ∙ Built 1955
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.58
    •  
  • 2838 E Avenida Olivos Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1975
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.29
    •  
  • 2523 E Coolidge Street Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1955
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.72
    •  
PROPERTY LISTING DETAILS
Michelle Renteria
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6201759
Last Updated: 03/05/2021
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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