Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2602 E Christy Drive Phoenix, AZ 85028

3 Beds 2 Baths 1,756 sqft Built 1973

$475,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $270.50
  • 3 Days on Market
  • MLS # : 6199384
  • Updated Date : 02/26/2021 at 08:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,756 sqft
  • Baths : 1 full , 1 half
Listing Agent

The Daniel Montez Real Estate Group

Listing Agent's Description

Come see this fantastic home located within a short walking distance to Christy Cove Park, Elementary, Jr. High and High Schools and within close proximity to the Phoenix Mountain Preserve. Home features stainless steel appliances, granite slab countertops in kitchen and bathrooms, fireplace in the family, newer bamboo flooring in master bedroom, brand new washing machine in February 2021, huge back yard with spacious patio, detached office/workshop with stained concrete flooring. There's plenty of room for all of your toys with RV gate and paved RV parking. A must see! Melrose Paradise Recreation Club is located in the neighborhood. They offer various membership options at their swimming facility.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Paradise Valley Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Paradise Valley Village

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
Shea Middle School Middle Regular 641 37 6
Shadow Mountain High School High Regular 1,390 67 3

Shea Middle School

  • Education Level: Middle
  • # of students: 641
  • # of teachers: 37
6
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,650
Property Tax -$299
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
-$149

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.

$475,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.5%
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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$15,854

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,226

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9603$2,4194$2,4505$2,595
$2,595
RENT COMPS ANALYSIS
  • 2602 E Christy Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $1.12
    •  
  • 12224 N 23rd Street Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,571 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,571 Sqft ∙ Built 1962
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.15
    •  
  • 2614 E Sahuaro Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 1973
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,419
    • $1.26
    •  
  • 2410 E Sahuaro Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1974
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.31
    •  
  • 3045 E Cholla Street Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 1960
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.35
    •  
PROPERTY LISTING DETAILS
Jeff Tessitore
The Daniel Montez Real Estate Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199384
Last Updated: 02/26/2021
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.

BESbswy