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2638 N 29th Street Phoenix, AZ 85008

2 Beds 1 Baths 766 sqft Built 1930

$250,000

List Price

$1,050

$945 - $1.2K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1930
  • Price/Sqft : $326.37
  • 3 Days on Market
  • MLS # : 6161435
  • Updated Date : 12/11/2020 at 13:37
CONSTRUCTION
  • Beds : 2
  • Floor Size : 766 sqft
  • Baths : 1 full
Listing Agent

North & Co

Listing Agent's Description

This is a property with great potential in a wonderful up and coming neighborhood surrounded by new construction. Add on to the existing residence, tear it down and build a bigger home or buy it and rent it out. Minutes away from shopping and restaurants at The Biltmore and Arcadia. Don't miss this one!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Camelback East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $91k307k

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

Neighborhood: Camelback East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
Monte Vista Elementary School Primary Regular 721 43 4
Monte Vista Elementary School Middle Regular 721 43 4
Camelback High School High Regular 2,048 110 4

Monte Vista Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 43
4
GreatSchools Rating

Monte Vista Elementary School

  • Education Level: Middle
  • # of students: 721
  • # of teachers: 43
4
GreatSchools Rating

Camelback High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 110
4
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$945$1,155$1,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,050
EXPENSES Loan Payment -$922
Property Tax -$159
Property Insurance -$42
Property Management Fees -$99
CASH FLOW
-$172

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$250,000

PROJECTED PRICE

$1,050

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,512

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
  • $942

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$8253$9004$1,0995$1,399
$1,399
RENT COMPS ANALYSIS
  • 2638 N 29th Street Phoenix, AZ 1
    • 2 beds 1 baths ∙ 766 Sqft ∙ Built 1930 2 beds 1 baths ∙ 766 Sqft ∙ Built 1930
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2936 E Granada Road #2 Phoenix, AZ 2
    • 2 beds 1 baths ∙ 650 Sqft ∙ Built 1930 2 beds 1 baths ∙ 650 Sqft ∙ Built 1930
    property image
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $825
    • $1.27
    •  
  • 2020 N 26th Place #4 Phoenix, AZ 3
    • 2 beds 1 baths ∙ 768 Sqft ∙ Built 1945 2 beds 1 baths ∙ 768 Sqft ∙ Built 1945
    property image
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $1.17
    •  
  • 1913 N 25th Place #b Phoenix, AZ 4
    • 2 beds 1 baths ∙ 900 Sqft ∙ Built 1945 2 beds 1 baths ∙ 900 Sqft ∙ Built 1945
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,099
    • $1.22
    •  
  • 2531 E Amelia Avenue Phoenix, AZ 5
    • 2 beds 1 baths ∙ 1,107 Sqft ∙ Built 1948 2 beds 1 baths ∙ 1,107 Sqft ∙ Built 1948
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $1.26
    •  
PROPERTY LISTING DETAILS
Daniel J Nardi
North & Co
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6161435
Last Updated: 12/11/2020
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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