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2714 N 88th Drive Phoenix, AZ 85037

4 Beds 3 Baths 2,050 sqft Built 1987

$300,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $146.34
  • 7 Days on Market
  • MLS # : 6173614
  • Updated Date : 12/22/2020 at 16:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,050 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Arizona Foothills

Listing Agent's Description

Cul-De-Sac.4 Bedroom, 2.5-Bath, 2 Car Garage, and Diving Pool-ALL ON A HUGE LOT! Close to Banner Estrella Medical Center, Cardinal Stadium, Coyotes Stadium, Westgate for Entertainment and Shopping, and Easy Freeway Access to 101 and I-10

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Westridge Shadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Westridge Shadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7841567

* 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
Amberlea Elementary School Primary Regular 706 31 3
Amberlea Elementary School Middle Regular 706 31 3
Copper Canyon High School High Regular 2,251 82 1

Amberlea Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 31
3
GreatSchools Rating

Amberlea Elementary School

  • Education Level: Middle
  • # of students: 706
  • # of teachers: 31
3
GreatSchools Rating

Copper Canyon High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 82
1
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,107
Property Tax -$186
Property Insurance -$67
Property Management Fees -$99
CASH FLOW
$111

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.

$300,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 12.3%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$33,395

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,604

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,5753$1,6954$1,6995$1,699
$1,699
RENT COMPS ANALYSIS
  • 2714 N 88th Drive Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.77
    •  
  • 8731 W Wilshire Drive Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1988
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.75
    •  
  • 2537 N 88th Lane Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1986
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
  • 2405 N 92nd Lane Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 2003
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.77
    •  
  • 8913 W Cypress Street Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 1995
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.78
    •  
PROPERTY LISTING DETAILS
Thomas M Sanchez
Century 21 Arizona Foothills
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6173614
Last Updated: 12/22/2020
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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