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2535 E Corona Avenue Phoenix, AZ 85040

2 Beds 1 Baths 808 sqft Built 1947

$198,000

List Price

$850

$765 - $935

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $245.05
  • 2 Days on Market
  • MLS # : 6178248
  • Updated Date : 01/16/2021 at 00:19
CONSTRUCTION
  • Beds : 2
  • Floor Size : 808 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Realty Phoenix

Listing Agent's Description

Wow! This single story home nestled in the heart of popular Phoenix is back on the market! Don't overthink it, come make this one yours! Right here, you will have easy access to Fwy 10, shopping, dining, schools, and so much more. This front yard with slab parking is ready for your landscaping ideas. As you enter this lovely home, you'll see a living and dining area with lots of natural light, along with an eat-in kitchen offering everything you need to become the best home chef. Starting with well maintained appliances, plenty counter space, and spacious honey oak cabinets. Take a look at this large backyard providing an RV gate, a separate guest house, and a Gazebo with an outdoor brick oven perfect to practice your cooking skills. Owner financing available.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Broadway Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $69k271k

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

Neighborhood: Broadway Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2600700800900100011001200130014001500Rent in $5851567

* 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
Percy L. Julian School Primary Regular 738 40 1
Percy L. Julian School Middle Regular 738 40 1
South Mountain High School High Regular 1,706 102 2

Percy L. Julian School

  • Education Level: Primary
  • # of students: 738
  • # of teachers: 40
1
GreatSchools Rating

Percy L. Julian School

  • Education Level: Middle
  • # of students: 738
  • # of teachers: 40
1
GreatSchools Rating

South Mountain High School

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

$178,200$217,800$198,000

PURCHASE PRICE

$765$935$850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $850
EXPENSES Loan Payment -$688
Property Tax -$129
Property Insurance -$43
Property Management Fees -$99
CASH FLOW
-$108

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.

$198,000

PROJECTED PRICE

$850

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,220

INVESTMENT

$58,220

Down Payment
$49,500
Rehab Estimate
$5,750
Closing Costs
$2,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$688

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,500
Loan Amount $148,500
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$4,474

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $844

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$8953$895
$895
RENT COMPS ANALYSIS
  • 2535 E Corona Avenue Phoenix, AZ 1
    • 2 beds 1 baths ∙ 808 Sqft ∙ Built 1947 2 beds 1 baths ∙ 808 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4826 S 20th Place Phoenix, AZ 2
    • 2 beds 1 baths ∙ 972 Sqft ∙ Built 1954 2 beds 1 baths ∙ 972 Sqft ∙ Built 1954
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.92
    •  
  • 4846 S 20th Place Phoenix, AZ 3
    • 2 beds 1 baths ∙ 765 Sqft ∙ Built 1955 2 beds 1 baths ∙ 765 Sqft ∙ Built 1955
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $1.17
    •  
PROPERTY LISTING DETAILS
Brett Tanner
Keller Williams Realty Phoenix
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178248
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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