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26248 N 40th Place Phoenix, AZ 85050

4 Beds 3 Baths 2,686 sqft Built 1998

$625,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $232.69
  • 2 Days on Market
  • MLS # : 6262554
  • Updated Date : 07/12/2021 at 22:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,686 sqft
  • Baths : 2 full , 1 half
Listing Agent

My Home Group Real Estate

Listing Agent's Description

A Stunning 4 bed, 2.5 bath property located in Tatum Highlands that borders the preserve. Upgrades galore! Travertine, wood flooring, and crown molding throughout. The kitchen features quartz countertops with natural stone backsplash, stainless steel appliances. Custom-built entertainment wall in the family room with stacked stone, electric fireplace, and bookshelves. Large loft bonus room to use how you choose! The master bedroom boasts a full bath with double sinks, separate tub and shower, a spacious walk-in closet, and a private balcony provides gorgeous mountain and desert views. Backyard includes a sparkling pool, covered patio with misters, and low maintenance desert landscape. A Must See!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Tatum Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k409k

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

Neighborhood: Tatum Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342195

* 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
Explorer Middle School Middle Regular 883 35 10
Pinnacle High School High Regular 2,443 96 8

Explorer Middle School

  • Education Level: Middle
  • # of students: 883
  • # of teachers: 35
10
GreatSchools Rating

Pinnacle High School

  • Education Level: High
  • # of students: 2,443
  • # of teachers: 96
8
GreatSchools Rating
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$2,171
Property Tax -$394
Property Insurance -$80
HOA -$12
Property Management Fees -$99
CASH FLOW
-$195

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.

$625,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.9%
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-$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$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$20,640

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,565

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,3004$2,5605$2,765
$2,765
RENT COMPS ANALYSIS
  • 26248 N 40th Place Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.95
    •  
  • 26422 N 42nd Street Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 1996
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.95
    •  
  • 26634 N 45th Street Cave Creek, AZ 2
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1996
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
  • 4127 E Pinto Lane Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 1997
    LEASED 05/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
  • 4110 E Hide Trail Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 1997
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,765
    • $1.03
    •  
PROPERTY LISTING DETAILS
Ryan M. Ney
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6262554
Last Updated: 07/12/2021
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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