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2812 N 24th Place Phoenix, AZ 85008

2 Beds 1 Baths 963 sqft Built 1948

$280,000

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $290.76
  • 4 Days on Market
  • MLS # : 6159547
  • Updated Date : 11/14/2020 at 13:27
CONSTRUCTION
  • Beds : 2
  • Floor Size : 963 sqft
  • Baths : 1 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Incredible opportunity to own this 2bed/1bath beautifully remodeled 1948 bungalow in Foote Hill Historic District. Completely remodeled with New AC, New Windows , New Roof, New electrical wiring and service, new plumbing. Conveniently located just minutes away from the Biltmore Shopping and Dining District, Phoenix SkyHarbor Airport and downtown Phoenix. Charming curb appeal leads you into the light and bright interior featuring wood look flooring, a soothing neutral paint palate, and an open concept floor plan. Kitchen boasts stainless steel appliances and gorgeous white shaker style cabinetry.Enjoy the expansive grassy backyard with tropical vegetation and a detached garage. Don't miss out! See it today and make it yours.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Camelback East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $91k307k

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

Neighborhood: Camelback East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
Larry C. Kennedy School Primary Regular 672 35 2
Larry C. Kennedy School Middle Regular 672 35 2
Camelback High School High Regular 2,048 110 4

Larry C. Kennedy School

  • Education Level: Primary
  • # of students: 672
  • # of teachers: 35
2
GreatSchools Rating

Larry C. Kennedy School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 35
2
GreatSchools Rating

Camelback High School

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

$252,000$308,000$280,000

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$1,033
Property Tax -$184
Property Insurance -$46
Property Management Fees -$99
CASH FLOW
-$302

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.

$280,000

PROJECTED PRICE

$1,060

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,546

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,060

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,119

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$895
1$8952$9003$1,0004$1,0005$1,060
$1,060
RENT COMPS ANALYSIS
  • 2812 N 24th Place Phoenix, AZ 5
    • 2 beds 1 baths ∙ 963 Sqft ∙ Built 1948 2 beds 1 baths ∙ 963 Sqft ∙ Built 1948
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $1.10
    •  
  • 2503 E Clarendon Avenue #8 Phoenix, AZ 1
    • 2 beds 1 baths ∙ 801 Sqft ∙ Built 1960 2 beds 1 baths ∙ 801 Sqft ∙ Built 1960
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $1.12
    •  
  • 2020 N 26th Place #4 Phoenix, AZ 2
    • 2 beds 1 baths ∙ 768 Sqft ∙ Built 1945 2 beds 1 baths ∙ 768 Sqft ∙ Built 1945
    property image
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $1.17
    •  
  • 2326 E Pinchot Avenue #9 Phoenix, AZ 3
    • 2 beds 1 baths ∙ 850 Sqft ∙ Built 1958 2 beds 1 baths ∙ 850 Sqft ∙ Built 1958
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $1.18
    •  
  • 2326 E Pinchot Avenue #8 Phoenix, AZ 4
    • 2 beds 1 baths ∙ 850 Sqft ∙ Built 1958 2 beds 1 baths ∙ 850 Sqft ∙ Built 1958
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $1.18
    •  
PROPERTY LISTING DETAILS
Travis E Mast
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159547
Last Updated: 11/14/2020
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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