Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2703 E Corona Avenue Phoenix, AZ 85040

3 Beds 2 Baths 1,337 sqft Built 2006

$259,900

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $194.39
  • 3 Days on Market
  • MLS # : 6181407
  • Updated Date : 01/15/2021 at 17:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,337 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

Don't miss this single level home in Broadway Estates! This home has been refreshed with new interior paint and new carpet. Wood-look tile in the common areas. The kitchen features Quartz countertops and stainless steel appliances. The primary bedroom has a full ensuite bathroom and a walk in closet. Spacious backyard with covered patio. Vacant and ready for viewing, come see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Broadway Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $69k271k

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

Neighborhood: Broadway Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2600700800900100011001200130014001500Rent in $5851567

* 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
Percy L. Julian School Primary Regular 738 40 1
Percy L. Julian School Middle Regular 738 40 1
South Mountain High School High Regular 1,706 102 2

Percy L. Julian School

  • Education Level: Primary
  • # of students: 738
  • # of teachers: 40
1
GreatSchools Rating

Percy L. Julian School

  • Education Level: Middle
  • # of students: 738
  • # of teachers: 40
1
GreatSchools Rating

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$903
Property Tax -$169
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
$26

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.

$259,900

PROJECTED PRICE

$1,250

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$17,526

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
  • $1,207

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2493$1,3954$1,4005$1,449
$1,449
RENT COMPS ANALYSIS
  • 2703 E Corona Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2222 E Saint Anne Avenue Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,392 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,392 Sqft ∙ Built 2008
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.90
    •  
  • 1934 E Pueblo Avenue Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,623 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,623 Sqft ∙ Built 2008
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.86
    •  
  • 4008 S 28th Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2004
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 1455 E Bloch Road Phoenix, AZ 5
    • 4 beds 3 baths ∙ 1,580 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,580 Sqft ∙ Built 2003
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.92
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181407
Last Updated: 01/15/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

BESbswy