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2735 E Cholla Street Phoenix, AZ 85028

4 Beds 2 Baths 2,200 sqft Built 1974

$605,000

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $275.00
  • 4 Days on Market
  • MLS # : 6154400
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,200 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Gorgeous remodel of this great 4/2 Family home. Walk in to your bright and spacious family room w/ a custom designed wood wall. A kitchen to die for with gorgeous wood beams, high end appliances, huge built-in fridge & two tone kitchen cabinets. The open concept dining area is complete with a wet bar & shelving. Rich hardwood floors throughout entire home. Beautifully tiled bathrooms with new vanities & quartz counters. The master has a seamless tiled floor that flows into the shower & chic window paned shower doors. All the windows, doors, baseboards & casing have been replaced. Updated lighting, hardware, plumbing fixtures and that is just inside. Outback find a diving pool, mountain views and a large remodeled patio. This is practically a brand new house you must see before it is gone!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Paradise Valley Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Paradise Valley Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Desert Cove Elementary School Primary Regular 523 37 6
Desert Cove Elementary School Middle Regular 523 37 6
Shadow Mountain High School High Regular 1,390 67 3

Desert Cove Elementary School

  • Education Level: Primary
  • # of students: 523
  • # of teachers: 37
6
GreatSchools Rating

Desert Cove Elementary School

  • Education Level: Middle
  • # of students: 523
  • # of teachers: 37
6
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$544,500$665,500$605,000

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$2,232
Property Tax -$381
Property Insurance -$70
Property Management Fees -$99
CASH FLOW
-$322

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.

$605,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$166,075

INVESTMENT

$166,075

Down Payment
$151,250
Rehab Estimate
$5,750
Closing Costs
$9,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,232

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $151,250
Loan Amount $453,750
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$16,437

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,767

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,419
1$2,4192$2,4603$2,5004$2,5255$2,700
$2,700
RENT COMPS ANALYSIS
  • 2735 E Cholla Street Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1974 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $1.12
    •  
  • 2614 E Sahuaro Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 1973
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,419
    • $1.26
    •  
  • 2318 E Cortez Street Phoenix, AZ 3
    • 4 beds 2 baths ∙ 2,058 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,058 Sqft ∙ Built 1978
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.21
    •  
  • 3033 E Sierra Street Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,047 Sqft ∙ Built 1970 4 beds 2 baths ∙ 2,047 Sqft ∙ Built 1970
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,525
    • $1.23
    •  
  • 2658 E Brown Street Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,028 Sqft ∙ Built 1963 3 beds 3 baths ∙ 2,028 Sqft ∙ Built 1963
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.33
    •  
PROPERTY LISTING DETAILS
Caitlin Bronsky
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154400
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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