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2714 E Montecito Avenue Phoenix, AZ 85016

3 Beds 2 Baths 1,588 sqft Built 1958

$465,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1958
  • Price/Sqft : $292.82
  • 4 Days on Market
  • MLS # : 6154445
  • Updated Date : 10/31/2020 at 12:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,588 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Biltmore Partners

Listing Agent's Description

Aesthetically pleasing Remodeled Home w/lush green landscape! Sparkling backyard pool, covered tiled patio w/fans, swaying palm trees, & grassy play area. Perfect for outdoor entertaining! Step into perfection w/handsome tiled floors, custom palette, French doors into den w/wood floors in all the right places, plush carpet, & plantation shutters. Stunning chef's kitchen features a large center island, granite counters, breakfast bar, upgraded lighting, SS appliances, pantry, & plethora of wood cabinetry w/stylish hardware. All appliances included. Fabulous location to everything! Fine Dining, Shopping, Biltmore, & Medical Buildings. See It! Love It! Live It!

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
Madison Camelview Elementary School Primary Regular 689 33 4
Madison Park Middle School Middle Regular 423 22 4
Camelback High School High Regular 2,048 110 4

Madison Camelview Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 33
4
GreatSchools Rating

Madison Park Middle School

  • Education Level: Middle
  • # of students: 423
  • # of teachers: 22
4
GreatSchools Rating

Camelback High School

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

$418,500$511,500$465,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,716
Property Tax -$334
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$507

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.

$465,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.37%

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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,984

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
  • $1,854

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5253$1,6954$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 2714 E Montecito Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3028 E Coolidge Street Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1955
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.10
    •  
  • 2711 E Fairmount Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1945
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.07
    •  
  • 2513 E Roma Avenue Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,566 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,566 Sqft ∙ Built 1951
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.21
    •  
  • 2838 E Avenida Olivos Street Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1975
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.29
    •  
PROPERTY LISTING DETAILS
Sela Dragan
Keller Williams Realty Biltmore Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154445
Last Updated: 10/31/2020
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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