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2702 E Cheryl Drive Phoenix, AZ 85028

4 Beds 2 Baths 1,862 sqft Built 1971

$515,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $276.58
  • 5 Days on Market
  • MLS # : 6155761
  • Updated Date : 11/06/2020 at 10:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,862 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Mid Century, 4 bedroom, 2 bath charmer! No HOA! Prime location just off the 51 and Shea. When you enter through the front door you have a clear view of the pool in this entertainers paradise, and open concept living. Stunning chefs kitchen with quartz countertops and an island that seats 6 comfortably. Wood-like tile in all rooms completes this sleek mid century home. As you enter the backyard you'll find a beautiful sparkling pool, 2 extended covered entertaining spaces and a 120 sq ft custom shed! Leased solar panels as an added bonus! MUST SEE BEFORE IT IS GONE!!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Paradise Valley Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Paradise Valley Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Mercury Mine Elementary School Primary Regular 546 27 8
Mercury Mine Elementary School Middle Regular 546 27 8
Shadow Mountain High School High Regular 1,390 67 3

Mercury Mine Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Mercury Mine Elementary School

  • Education Level: Middle
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$463,500$566,500$515,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,900
Property Tax -$324
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
-$277

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.

$515,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.5%
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

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$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$13,927

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,276

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1103$2,2004$2,4195$2,700
$2,700
RENT COMPS ANALYSIS
  • 2702 E Cheryl Drive Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.13
    •  
  • 9617 N 32nd Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1975
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.12
    •  
  • 2410 E Sahuaro Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1974
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.18
    •  
  • 2614 E Sahuaro Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 1973
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,419
    • $1.26
    •  
  • 2658 E Brown Street Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,028 Sqft ∙ Built 1963 3 beds 3 baths ∙ 2,028 Sqft ∙ Built 1963
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.33
    •  
PROPERTY LISTING DETAILS
Crystal Lovelock
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155761
Last Updated: 11/06/2020
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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