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2631 E Jones Avenue Phoenix, AZ 85040

4 Beds 2 Baths 2,047 sqft Built 2019

$379,900

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $185.59
  • 6 Days on Market
  • MLS # : 6191751
  • Updated Date : 02/17/2021 at 03:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,047 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

Welcome home!! For under $400K you can call this absolutely stunning 2019 home your own. Yes, we said 2019! This house is still even under builder warranty! Enjoy the huge open floor plan which is an entertainer's dream. 4 bedrooms, 2 baths, new 2020 pool, new 2020 200 sq/ft storage shed, tile roof, 2 car garage, and an RV gate! Even in this market, you can still get an amazing deal. This won't last. Schedule your showing today before it's too late.

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
 

$341,910$417,890$379,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,320
Property Tax -$247
Property Insurance -$67
Property Management Fees -$99
CASH FLOW
$87

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.

$379,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.48%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$30,219

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,806

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,7254$1,8205$2,000
$2,000
RENT COMPS ANALYSIS
  • 2631 E Jones Avenue Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,047 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,047 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.89
    •  
  • 2113 E Sunland Avenue Phoenix, AZ 1
    • 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 2
    • 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 3
    • 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
    •  
  • 1722 E Grenadine Road Phoenix, AZ 5
    • 4 beds 4 baths ∙ 2,247 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,247 Sqft ∙ Built 2017
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
PROPERTY LISTING DETAILS
Alexis Sprofera
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6191751
Last Updated: 02/17/2021
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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