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2715 E Fairmount Avenue Phoenix, AZ 85016

2 Beds 1 Baths 921 sqft Built 1946

$329,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1946
  • Price/Sqft : $357.22
  • 3 Days on Market
  • MLS # : 6153125
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 2
  • Floor Size : 921 sqft
  • Baths : 1 full
Listing Agent

United Brokers Group

Listing Agent's Description

You have just found the gem of Arcadia Lite! Brand New tear off roof, newer windows, newer HVAC, Remodeled and Updated Kitchen and Bathroom - Just move on in! This cute 2 bedroom 1 bathroom, great room floor plan is within walking and biking distance to Sprouts, Nelson's Fish Market, The Wandering Tortoise and Helton Brewing just to name a few. Kitchen features Quartz Counters, Soft Close Drawers and Doors, New Can Lighting, Newer Appliances. Inside Laundry with never used Euro Style Washer & Dryer. Large Storage shed out back with plenty of room to expand. Available to see on November 13th. Make your appointment today!

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
Larry C. Kennedy School Primary Regular 672 35 2
Larry C. Kennedy School Middle Regular 672 35 2
Camelback High School High Regular 2,048 110 4

Larry C. Kennedy School

  • Education Level: Primary
  • # of students: 672
  • # of teachers: 35
2
GreatSchools Rating

Larry C. Kennedy School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 35
2
GreatSchools Rating

Camelback High School

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

$296,100$361,900$329,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$1,214
Property Tax -$209
Property Insurance -$45
Property Management Fees -$99
CASH FLOW
-$267

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.

$329,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

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

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$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$5,076

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
  • $1,294

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$8953$1,1754$1,4995$1,534
$1,534
RENT COMPS ANALYSIS
  • 2715 E Fairmount Avenue Phoenix, AZ 1
    • 2 beds 1 baths ∙ 921 Sqft ∙ Built 1946 2 beds 1 baths ∙ 921 Sqft ∙ Built 1946
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2503 E Clarendon Avenue #8 Phoenix, AZ 2
    • 2 beds 1 baths ∙ 801 Sqft ∙ Built 1960 2 beds 1 baths ∙ 801 Sqft ∙ Built 1960
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $1.12
    •  
  • 2501 E Clarendon Avenue ##3 Phoenix, AZ 3
    • 2 beds 1 baths ∙ 800 Sqft ∙ Built 1943 2 beds 1 baths ∙ 800 Sqft ∙ Built 1943
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $1.47
    •  
  • 2438 E Amelia Avenue Phoenix, AZ 4
    • 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1950 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1950
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.50
    •  
  • 2434 E Amelia Avenue Phoenix, AZ 5
    • 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1950 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1950
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,534
    • $1.53
    •  
PROPERTY LISTING DETAILS
Dean Carver
United Brokers Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6153125
Last Updated: 11/13/2020
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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