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2523 E Flower Street Phoenix, AZ 85016

4 Beds 2 Baths 1,706 sqft Built 1948

$499,900

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1948
  • Price/Sqft : $293.02
  • 32 Days on Market
  • MLS # : 6127214
  • Updated Date : 10/31/2020 at 11:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,706 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Honey stop the car!! This completely renovated 4Bed/2Bath home with a large 0.2 acre lot in the prime location of central Phoenix near Biltmore and Arcadia. Renovation includes NEW roof, NEW windows, NEW AC, completely NEW kitchen & bathrooms, NEW tile floors throughout, and much much MORE! No detail was left unfinished in this home. The backyard is perfect for entertaining. Located near numerous shopping plazas and entertainment hotspots. Don't miss this one!

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
Larry C. Kennedy School Primary Regular 672 35 2
Larry C. Kennedy School Middle Regular 672 35 2
Camelback High School High Regular 2,048 110 4

Larry C. Kennedy School

  • Education Level: Primary
  • # of students: 672
  • # of teachers: 35
2
GreatSchools Rating

Larry C. Kennedy School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 35
2
GreatSchools Rating

Camelback High School

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

$449,910$549,890$499,900

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,844
Property Tax -$317
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$381

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.

$499,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$8,490

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,380

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$2,1503$2,2004$2,3005$2,375
$2,375
RENT COMPS ANALYSIS
  • 2523 E Flower Street Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,706 Sqft ∙ Built 1948 4 beds 2 baths ∙ 1,706 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $1.14
    •  
  • 2860 E Clarendon Avenue Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1966 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1966
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.32
    •  
  • 3232 N 27th Place Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1948
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.32
    •  
  • 2533 E Flower Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1950
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.50
    •  
  • 3111 E Osborn Road Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1951
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.44
    •  
PROPERTY LISTING DETAILS
Shawn Vaughn
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6127214
Last Updated: 10/31/2020
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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