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2622 E Southgate Avenue Phoenix, AZ 85040

4 Beds 2 Baths 1,696 sqft Built 2004

$310,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $182.78
  • 2 Days on Market
  • MLS # : 6187645
  • Updated Date : 01/30/2021 at 18:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,696 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Fantastic opportunity to own this 4bed/2bath Phoenix home in a very convenient location. Minutes to freeways, shopping, and downtown. The airport, Phoenix Zoo, and ASU are less than 15 minutes away! This gem features great curb appeal, with RV gate, leading into the light and bright interior with tile flooring, a soothing neutral paint palate, soaring vaulted ceilings and a fluid open floor plan. Kitchen boasts dark wood cabinetry, stainless steel appliances, stylish countertops and a breakfast bar. Lovely master retreat includes private en suite. The low maintenance expansive backyard with covered patio is ready for all your personal touches. Do not miss out! Schedule your private showing today.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Southgate Avenue

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $67k271k

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

Neighborhood: Southgate Avenue

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2600700800900100011001200130014001500Rent in $5911567

* 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
South Mountain High School High Regular 1,706 102 2
Phoenix Coding Academy High Unknown NA
Phoenix Coding Academy High Regular NA

South Mountain High School

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

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,077
Property Tax -$202
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$28

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.

$310,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.45%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$16,004

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,514

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4103$1,6954$1,6955$1,725
$1,725
RENT COMPS ANALYSIS
  • 2622 E Southgate Avenue Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,696 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,696 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.83
    •  
  • 4008 S 28th Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2004
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 2113 E Sunland Avenue Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,951 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,951 Sqft ∙ Built 2005
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 2343 E Sunland Avenue Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,941 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,941 Sqft ∙ Built 2006
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 2310 E Wood Street Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 2017
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.90
    •  
PROPERTY LISTING DETAILS
Rafael Escobedo Jr
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187645
Last Updated: 01/30/2021
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.

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