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2808 N 51st Street Phoenix, AZ 85008

3 Beds 1 Baths 1,041 sqft Built 1954

$410,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $393.85
  • 1 Days on Market
  • MLS # : 6213359
  • Updated Date : 03/27/2021 at 21:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,041 sqft
  • Baths : 1 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

Pride of Ownership is evident throughout this wonderful Home! Custom palette, handsome laminate wood floors, ceiling fans, & lots of natural light. Open floor plan w/a spacious eat-in kitchen, beautiful tile floor, stylish counters, & plenty of wood cabinets w/hardware. Plush carpet/padding in 2 bedrooms, ample closets, & 1 pristine bath. The master retreat boasts patio access & a laminate wood floor. Interior laundry room w/storage cabinets. Enjoy the sparkling pool & covered paver patio. This one of a kind gem will go fast! A new roof, and new ac unit all installed in 2020 water heater installed 2019. Easy access to Old Town Scottsdale, Tempe, and Papago Park.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Papago Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k284k

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

Neighborhood: Papago Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621575

* 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
Camelback High School High Regular 2,048 110 4
Phoenix Coding Academy High Regular NA
Phoenix Coding Academy High Unknown NA

Camelback High School

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

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$1,424
Property Tax -$242
Property Insurance -$48
Property Management Fees -$99
CASH FLOW
-$583

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.

$410,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.8%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$69

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,265

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,5953$1,650
$1,650
RENT COMPS ANALYSIS
  • 2808 N 51st Street Phoenix, AZ 1
    • 3 beds 1 baths ∙ 1,041 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,041 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.18
    •  
  • 4609 E Almeria Road Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1953
    property image
    LEASED 03/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.22
    •  
  • 6544 E Hubbell Street Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1964
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.21
    •  
PROPERTY LISTING DETAILS
Craig Rafferty
Re/max Alliance Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6213359
Last Updated: 03/27/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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