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2777 W Redwood Lane Phoenix, AZ 85045

3 Beds 3 Baths 2,944 sqft Built 2002

$475,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $161.35
  • 3 Days on Market
  • MLS # : 6181689
  • Updated Date : 01/16/2021 at 20:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,944 sqft
  • Baths : 3 full
Listing Agent

Brokers Only, Llc

Listing Agent's Description

Family Home in the great South Mountain Preserve area. It is surrounded with mountain views from all sides. It has a pebble tec pool w/rock fountain, 3 bedrooms (2 were converted to 1 large) full kitchen with upgrades, 2 living rooms, 2 car garage, office room and loft area with plenty of storage space. Front and Surround Speakers are integrated into the ceilings for your entertainment. Maintenance free yard with fake grass in front and back. It is right along the trail to take you to South Mountain Park. Easy access to the South Mountain 202 Freeway opening up the East and the West. AC Units and Water Heater were replaced just 2 years ago. Home is move-in ready. Grab it before it is gone.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Foothills Reserve

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k476k

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

Neighborhood: Foothills Reserve

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9342285

* 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
Kyrene De Los Cerritos Leadership Academy Primary Regular 531 32 10
Kyrene Altadena Middle School Middle Regular 1,065 52 9
Desert Vista High School High Regular 3,037 130 8

Kyrene De Los Cerritos Leadership Academy

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 32
10
GreatSchools Rating

Kyrene Altadena Middle School

  • Education Level: Middle
  • # of students: 1,065
  • # of teachers: 52
9
GreatSchools Rating

Desert Vista High School

  • Education Level: High
  • # of students: 3,037
  • # of teachers: 130
8
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,650
Property Tax -$338
Property Insurance -$85
HOA -$34
Property Management Fees -$99
CASH FLOW
-$205

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.

$475,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.4%
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

PROJECTED ANNUAL CASH FLOW

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

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$11,552

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,017

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0953$2,200
$2,200
RENT COMPS ANALYSIS
  • 2777 W Redwood Lane Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,944 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,944 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.68
    •  
  • 16646 S 27th Avenue Phoenix, AZ 2
    • 4 beds 4 baths ∙ 3,125 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,125 Sqft ∙ Built 2004
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.67
    •  
  • 2743 W Cottonwood Lane Phoenix, AZ 3
    • 4 beds 3 baths ∙ 3,150 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,150 Sqft ∙ Built 2003
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.70
    •  
PROPERTY LISTING DETAILS
Jeffrey Davis
Brokers Only, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181689
Last Updated: 01/16/2021
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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