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2521 N 28th Place Phoenix, AZ 85008

3 Beds 2 Baths 1,512 sqft Built 1937

INVESTimate

$375,000

List Price

$1,520

$1,368 - $1,672

Rent Est.

$415,200  ( +10.72%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1937
  • Price/Sqft : $248.02
  • 6 Days on Market
  • MLS # : 6118537
  • Updated Date : 08/25/2020 at 11:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,512 sqft
  • Baths : 2 full
Listing Agent

Call Realty, Inc.

Listing Agent's Description

Newly remodeled house in highly desirable 85008 zipcode! 3 bedrooms and 2 bathrooms. Large lot and great curb appeal. Updated kitchen, new wood plank tile throughout and new carpet in bedrooms. Beautiful bathroom shower tile with glass tile accents and new fixtures. Kitchen boasts stainless steel appliances with gas range.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Camelback East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $91k307k

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

Neighborhood: Camelback East

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
Monte Vista Elementary School Primary Regular 721 43 4
Monte Vista Elementary School Middle Regular 721 43 4
Camelback High School High Regular 2,048 110 4

Monte Vista Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 43
4
GreatSchools Rating

Monte Vista Elementary School

  • Education Level: Middle
  • # of students: 721
  • # of teachers: 43
4
GreatSchools Rating

Camelback High School

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

$337,500$412,500$375,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,384
Property Tax -$238
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$257

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.

$375,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.72%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$7,965

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,731

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,5203$1,6004$1,6505$1,795
$1,795
RENT COMPS ANALYSIS
  • 2521 N 28th Place Phoenix, 2
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1937
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.01
    •  
  • 2702 E Brill Street Phoenix, 1
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1938
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.99
    •  
  • 2427 E Avalon Drive Phoenix, 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1947
    property image
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.19
    •  
  • 3218 E Yale Street Phoenix, 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1950
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.18
    •  
  • 3336 E Hubbell Street Phoenix, 5
    • 3 beds 3 baths ∙ 1,475 Sqft ∙ Built 1951 3 beds 3 baths ∙ 1,475 Sqft ∙ Built 1951
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.22
    •  
PROPERTY LISTING DETAILS
Jacob Arredondo
Call Realty, Inc.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6118537
Last Updated: 08/25/2020
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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