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2809 N 8th Street Phoenix, AZ 85006

2 Beds 2 Baths 1,216 sqft Built 1980

$350,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $287.83
  • 2 Days on Market
  • MLS # : 6181969
  • Updated Date : 01/16/2021 at 16:42
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,216 sqft
  • Baths : 1 full , 1 half
Listing Agent

Brokers Hub Realty, Llc

Listing Agent's Description

This is a rare opportunity. It is rare to find a block home built in 1980. Here it is! It is rare to find an open floor plan and spacious bedrooms in a two bedroom home in a historic district. Here it is! It is rare to find a larger lot like this in a historic district at this price. Here it is! It is rare to find a garage in historic neighborhoods at this price, especially one with direct access into the home. Here it is! It is rare to find a Downtown home at this price with a newer roof, tile throughout (no icky carpet!), spacious great room, nice kitchen with a pantry, TWO baths (and nice sized ones at that), upgraded services, block fenced back yard, and a great location w/in walking distance to some of our best eateries in Phoenix and the light rail. Here it is! Come Buy!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Country Club Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k341k

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

Neighborhood: Country Club Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8751567

* 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
Emerson School Primary Regular 430 29 3
Emerson School Middle Regular 430 29 3
North High School High Regular 2,616 128 5

Emerson School

  • Education Level: Primary
  • # of students: 430
  • # of teachers: 29
3
GreatSchools Rating

Emerson School

  • Education Level: Middle
  • # of students: 430
  • # of teachers: 29
3
GreatSchools Rating

North High School

  • Education Level: High
  • # of students: 2,616
  • # of teachers: 128
5
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$1,216
Property Tax -$216
Property Insurance -$51
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 14% of earned rent to cover both maintenance and periods of vacancy.

$350,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 11.6%
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

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,338

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
  • $1,374

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2453$1,2954$1,2955$1,299
$1,299
RENT COMPS ANALYSIS
  • 2809 N 8th Street Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,216 Sqft ∙ Built 1980 2 beds 2 baths ∙ 1,216 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3434 N 11th Street #7 Phoenix, AZ 2
    • 2 beds 3 baths ∙ 1,096 Sqft ∙ Built 1983 2 beds 3 baths ∙ 1,096 Sqft ∙ Built 1983
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $1.14
    •  
  • 3302 N 7th Street #269 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,178 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,178 Sqft ∙ Built 1999
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.10
    •  
  • 353 E Thomas Road #c107 Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,102 Sqft ∙ Built 1960 2 beds 2 baths ∙ 1,102 Sqft ∙ Built 1960
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.18
    •  
  • 3302 N 7th Street #157 Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,178 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,178 Sqft ∙ Built 1999
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.10
    •  
PROPERTY LISTING DETAILS
Sherry L Rampy
Brokers Hub Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181969
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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