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

2727 W Echo Lane Phoenix, AZ 85051

3 Beds 2 Baths 1,046 sqft Built 1953

$250,000

List Price

$1,000

$900 - $1.1K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $239.01
  • 3 Days on Market
  • MLS # : 6159841
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,046 sqft
  • Baths : 1 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Great location literally just minutes from the I-17. tile flooring throughout makes for a very elegant look and of course easy clean up. There are 4 good sized bedrooms and 2 masters. The property is move-in ready and all it needs is your furniture. The kitchen offers granite countertops, stainless steel appliances, tile backsplash, and beautiful upgraded cabinets. Huge back yard with covered patio and all the room you need to relax or entertain. It's ideal for a starter home or a rental property. You don't want to miss out on this beautiful home so hurry and come take a look before it's gone.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alta Vista

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $72k271k

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

Neighborhood: Alta Vista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6461567

* 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
Washington Elementary School Primary Regular 957 49 3
Palo Verde Middle School Middle Regular 925 46 3
Cortez High School High Regular 1,127 55 4

Washington Elementary School

  • Education Level: Primary
  • # of students: 957
  • # of teachers: 49
3
GreatSchools Rating

Palo Verde Middle School

  • Education Level: Middle
  • # of students: 925
  • # of teachers: 46
3
GreatSchools Rating

Cortez High School

  • Education Level: High
  • # of students: 1,127
  • # of teachers: 55
4
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$900$1,100$1,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,000
EXPENSES Loan Payment -$922
Property Tax -$149
Property Insurance -$48
Property Management Fees -$99
CASH FLOW
-$218

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.

$250,000

PROJECTED PRICE

$1,000

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

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

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$2,997

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,000

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $941

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,0003$1,195
$1,195
RENT COMPS ANALYSIS
  • 2727 W Echo Lane Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,046 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,046 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.96
    •  
  • 3902 W Griswold Road Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1961
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.92
    •  
  • 3613 W Harmont Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1970
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.88
    •  
PROPERTY LISTING DETAILS
Gildardo Meza
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159841
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.

BESbswy