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2631 E Ridge Creek Road Phoenix, AZ 85024

3 Beds 2 Baths 1,829 sqft Built 2007

$430,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $235.10
  • 5 Days on Market
  • MLS # : 6148816
  • Updated Date : 11/07/2020 at 16:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,829 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty East Valley

Listing Agent's Description

Stunning 3 bedrooms, 2 bath home in a great neighborhood. This home is move-in ready and recently remodeled, with new paint, wood-look tile, and new carpet in all the right places. An absolute SHOWSTOPPER that will awe you the second you open the door! Open floor plan living area great for entertaining. kitchen has a huge island and upgraded granite countertops and stainless steel appliances. . You'll enjoy the outdoor Hot Tub, pavers, and the beauty of quality landscaping. The OWNED SOLAR system will cut your utility bills dramatically. Water softener, ceiling fans, custom sunscreens throughout, RO system, epoxy flooring in garage. The community is spectacular with large open green belts, plenty of walking/biking trails, and views of the mountains.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Peak

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k481k

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

Neighborhood: Desert Peak

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9342452

* 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
Boulder Creek Elementary School Primary Regular 711 37 9
Boulder Creek Elementary School Middle Regular 711 37 9
Pinnacle High School High Regular 2,443 96 8

Boulder Creek Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 37
9
GreatSchools Rating

Boulder Creek Elementary School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 37
9
GreatSchools Rating

Pinnacle High School

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

$387,000$473,000$430,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,587
Property Tax -$271
Property Insurance -$63
HOA -$18
Property Management Fees -$99
CASH FLOW
-$107

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.

$430,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 1.8%
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

PROJECTED ANNUAL CASH FLOW

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

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$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$20,362

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
  • $2,012

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8003$2,0004$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 2631 E Ridge Creek Road Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,829 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,829 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2730 E Dry Wood Road Phoenix, AZ 2
    • 4 beds 3 baths ∙ 1,741 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,741 Sqft ∙ Built 2007
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 2915 E Shady Spring Trail Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 2008
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.13
    •  
  • 2609 E Robb Lane Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 2007
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.15
    •  
  • 23203 N 23rd Place Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 1998
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.09
    •  
PROPERTY LISTING DETAILS
Hamid R Nadjafi
Keller Williams Realty East Valley
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6148816
Last Updated: 11/07/2020
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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