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2621 E Virginia Avenue Phoenix, AZ 85008

3 Beds 2 Baths 2,399 sqft Built 1967

$439,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 1967
  • Price/Sqft : $182.99
  • 8 Days on Market
  • MLS # : 6151103
  • Updated Date : 10/30/2020 at 13:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,399 sqft
  • Baths : 2 full
Listing Agent

Turf Realty

Listing Agent's Description

One of the largest homes in the area on a huge lot with no HOA. Backyard is an oasis with a private fenced pool and no neighbors behind. Home backs a small private schools sports field. Amazing location just minutes to Biltmore or Arcadia. Large living room and separate family room. Freshly painted inside and out. Home offers 3 bedrooms and a home office at the other end of the house. Office has a closet and could also be used as a bedroom. Bathrooms have new tile showers. 3 year old roof. This home has air conditioning and an Evap cooler. Stained concrete and tile floors. Beautifully remodeled kitchen with stainless steel appliances. Huge laundry room.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Eastwood Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k282k

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

Neighborhood: Eastwood Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
 

$395,100$482,900$439,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,620
Property Tax -$282
Property Insurance -$74
Property Management Fees -$99
CASH FLOW
-$64

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.

$439,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.8%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,085

INVESTMENT

$122,085

Down Payment
$109,750
Rehab Estimate
$5,750
Closing Costs
$6,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,750
Loan Amount $329,250
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$25,772

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
  • $2,321

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8503$1,9954$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 2621 E Virginia Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 2,399 Sqft ∙ Built 1967 3 beds 2 baths ∙ 2,399 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2302 N 30th Place Phoenix, AZ 2
    • 3 beds 3 baths ∙ 2,314 Sqft ∙ Built 1952 3 beds 3 baths ∙ 2,314 Sqft ∙ Built 1952
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
  • 1201 E Almeria Road Phoenix, AZ 3
    • 3 beds 2 baths ∙ 2,213 Sqft ∙ Built 1953 3 beds 2 baths ∙ 2,213 Sqft ∙ Built 1953
    LEASED 09/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 1838 E Monterey Way Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,124 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,124 Sqft ∙ Built 1962
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.13
    •  
  • 3337 E Mitchell Drive Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1949 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1949
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.04
    •  
PROPERTY LISTING DETAILS
Tori Michelle Jones
Turf Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6151103
Last Updated: 10/30/2020
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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