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

2607 E Verbena Drive Phoenix, AZ 85048

5 Beds 3 Baths 3,254 sqft Built 1989

$450,000

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $138.29
  • 2 Days on Market
  • MLS # : 6190953
  • Updated Date : 02/06/2021 at 20:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,254 sqft
  • Baths : 3 full
Listing Agent

West Usa Realty

Listing Agent's Description

DO. NOT. MISS!!! TRY TO PUT YOUR SIGNATURE ON THIS ONE: NEW ROOF, 2 NEW TRANE AC UNITS, CUL-DE-SAC, LARGE-LOT FAMILY HOME IN THE HEART OF AHWATUKEE. MT. PARK RANCH HOA, KYRENE SCHOOLS, DESERT VISTA HS, ALL TOP-SHELF. HUGE NEWER PEBBLE TEC DIVING POOL, 3 FULL BATHROMS. HOME NEEDS TLC ON THE INSIDE, BUT YOU'LL LOVE THE ''BONES'' & SEVERAL BIG-TICKET ITEMS ARE RECENTLY COMPLETED. THIS IS A FANTASTIC FLOOR PLAN AT THE END OF THE STREET & BEHIND THE ELEMENTARY SCHOOL, OFF RAY & A 3-WAY STOP SIGN, NO NEIGHBOR BEHIND YOU! THE 85048 LOCATION AND SQUARE FOOTAGE MAKE THIS PROPERTY HIGHLY DESIRABLE. HOA COMMUNITY IS BEST-RATED IN ARIZONA FOR THE $$, AS WELL AS TOP SCHOOLS. ONE-OWNER HOME! PLAN OUT YOUR INTERIOR PAINT, FLOORS ETC. REMODEL AND COME SEE

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mountain Park Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k379k

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

Neighborhood: Mountain Park Ranch

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
Kyrene Monte Vista School Primary Regular 557 30 10
Kyrene Altadena Middle School Middle Regular 1,065 52 9
Desert Vista High School High Regular 3,037 130 8

Kyrene Monte Vista School

  • Education Level: Primary
  • # of students: 557
  • # of teachers: 30
10
GreatSchools Rating

Kyrene Altadena Middle School

  • Education Level: Middle
  • # of students: 1,065
  • # of teachers: 52
9
GreatSchools Rating

Desert Vista High School

  • Education Level: High
  • # of students: 3,037
  • # of teachers: 130
8
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$1,563
Property Tax -$371
Property Insurance -$91
HOA -$4
Property Management Fees -$99
CASH FLOW
$653

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.

$450,000

PROJECTED PRICE

$2,780

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.8%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

12.5

YEARS SAVED

$89,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $3,148

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,7803$2,9504$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 2607 E Verbena Drive Phoenix, AZ 2
    • 5 beds 3 baths ∙ 3,254 Sqft ∙ Built 1989 5 beds 3 baths ∙ 3,254 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $0.85
    •  
  • 2758 E Windmere Drive Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,997 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,997 Sqft ∙ Built 1991
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.92
    •  
  • 16055 S 30th Place Phoenix, AZ 3
    • 5 beds 3 baths ∙ 3,076 Sqft ∙ Built 1994 5 beds 3 baths ∙ 3,076 Sqft ∙ Built 1994
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.96
    •  
  • 16006 S 13th Place Phoenix, AZ 4
    • 4 beds 3 baths ∙ 3,002 Sqft ∙ Built 1993 4 beds 3 baths ∙ 3,002 Sqft ∙ Built 1993
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.00
    •  
  • 15810 S 18th Street Phoenix, AZ 5
    • 5 beds 3 baths ∙ 3,034 Sqft ∙ Built 1989 5 beds 3 baths ∙ 3,034 Sqft ∙ Built 1989
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
T. Link Paffenbarger
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190953
Last Updated: 02/06/2021
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