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2604 W Mclellan Boulevard Phoenix, AZ 85017

4 Beds 3 Baths 2,208 sqft Built 1950

$344,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $156.20
  • 5 Days on Market
  • MLS # : 6169440
  • Updated Date : 12/09/2020 at 15:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,208 sqft
  • Baths : 3 full
Listing Agent

Inhousevip

Listing Agent's Description

RENTAL PROPERTY WITH A POTENTIAL LOT TO SPLIT MOBILE LOT/ BUILD OUT UNITS .568 ACRE LOT. PROPERTY HAS A SINGLE FAMILY HOME 1 CAR GARAGE PLUS A 20X20 DETACHED SHOP , THIS HOME IS LEASED UNTIL MARCH/2021. R-3 ZONING

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7781567

* 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
Washington Elementary School Primary Regular 957 49 3
Palo Verde Middle School Middle Regular 925 46 3
Washington High School High Regular 1,714 73 4

Washington Elementary School

  • Education Level: Primary
  • # of students: 957
  • # of teachers: 49
3
GreatSchools Rating

Palo Verde Middle School

  • Education Level: Middle
  • # of students: 925
  • # of teachers: 46
3
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 73
4
GreatSchools Rating
 

$310,410$379,390$344,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,273
Property Tax -$206
Property Insurance -$70
Property Management Fees -$99
CASH FLOW
-$148

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.

$344,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.8%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,149

INVESTMENT

$97,149

Down Payment
$86,225
Rehab Estimate
$5,750
Closing Costs
$5,174

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,225
Loan Amount $258,675
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,580

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
  • $1,827

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,6954$1,8005$2,125
$2,125
RENT COMPS ANALYSIS
  • 2604 W Mclellan Boulevard Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 1950 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3109 W Lane Avenue Phoenix, AZ 2
    • 5 beds 2 baths ∙ 1,920 Sqft ∙ Built 1965 5 beds 2 baths ∙ 1,920 Sqft ∙ Built 1965
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 1832 W Stella Lane Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,052 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,052 Sqft ∙ Built 1970
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
  • 5138 N 20th Avenue Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,351 Sqft ∙ Built 1953 4 beds 2 baths ∙ 2,351 Sqft ∙ Built 1953
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.77
    •  
  • 2126 W San Miguel Avenue Phoenix, AZ 5
    • 5 beds 3 baths ∙ 2,498 Sqft ∙ Built 1953 5 beds 3 baths ∙ 2,498 Sqft ∙ Built 1953
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.85
    •  
PROPERTY LISTING DETAILS
Isaac V Nieblas
Inhousevip
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6169440
Last Updated: 12/09/2020
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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