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2818 E Turquoise Drive Phoenix, AZ 85028

3 Beds 2 Baths 1,977 sqft Built 1962

$475,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $240.26
  • 2 Days on Market
  • MLS # : 6170823
  • Updated Date : 12/12/2020 at 19:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,977 sqft
  • Baths : 2 full
Listing Agent

Value Rite Homes

Listing Agent's Description

**LOCATION**LOCATION**LOCATION** with close proximity to the Mountain Preserves where you can enjoy endless miles of hiking and biking. This property is also within blocks to all three K-12 Paradise Valley Schools. This Desert Dwelling gives the feel of living in the pines offering 3 Beds/2 Baths and a 14' x 21' bonus room that is air duct heated and cooled. A few of the updates include; newer AC (past 5-6 years), newer roof, pool resurfaced, detached 1-2 car tandem garage as well as Covered Parking. Other updates include; smooth finished ceilings T/O, upgraded kitchen cabinets and granite counters, convection oven and side by side SS fridge.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Paradise Valley Oasis South

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k397k

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

Neighborhood: Paradise Valley Oasis South

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
Mercury Mine Elementary School Primary Regular 546 27 8
Mercury Mine Elementary School Middle Regular 546 27 8
Shadow Mountain High School High Regular 1,390 67 3

Mercury Mine Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Mercury Mine Elementary School

  • Education Level: Middle
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Shadow Mountain High School

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

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

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,753
Property Tax -$299
Property Insurance -$66
Property Management Fees -$99
CASH FLOW
-$6

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

$2,210

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.2%
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

PROJECTED ANNUAL CASH FLOW

11530$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

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 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$32,679

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,387

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2003$2,2104$2,4195$2,700
$2,700
RENT COMPS ANALYSIS
  • 2818 E Turquoise Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,977 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,977 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $1.12
    •  
  • 10809 N 33rd Place Phoenix, AZ 1
    • 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1973
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.10
    •  
  • 3076 E Onyx Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1970
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.14
    •  
  • 2614 E Sahuaro Drive Phoenix, AZ 4
    • 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
    •  
  • 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
Gina Ladick
Value Rite Homes
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170823
Last Updated: 12/12/2020
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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