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2825 N 42nd Street #9 # 9 Phoenix, AZ 85008

3 Beds 4 Baths 2,229 sqft Built 2017

INVESTimate

$525,000

List Price

$2,010

$1,809 - $2,211

Rent Est.

$581,280  ( +10.72%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $235.53
  • 5 Days on Market
  • MLS # : 6121252
  • Updated Date : 08/22/2020 at 11:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,229 sqft
  • Baths : 3 full , 1 half
Listing Agent

On Q Property Management

Listing Agent's Description

Come see this 2017 built, 3 bed + bonus room/loft, 3.5 bath home within walking distance of the community pool! Upon entry, you'll notice beautiful wood tile w/ a modern kitchen complete with quartz counters, white cabinets and stainless appliances! The master suite has a walk in closet + bath with double sinks and a huge walk in tile shower. The walk out roof top deck and oversized loft/bonus room are both must see features! This stunning community offers a community pool, cabana, BBQ and gated pet area. Close to fine dining, Downtown Phoenix, ASU, Camelback and Old Town. COME SEE IT TODAY!

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
Griffith Elementary School Primary Regular 734 39 2
Griffith Elementary School Middle Regular 734 39 2
Camelback High School High Regular 2,048 110 4

Griffith Elementary School

  • Education Level: Primary
  • # of students: 734
  • # of teachers: 39
2
GreatSchools Rating

Griffith Elementary School

  • Education Level: Middle
  • # of students: 734
  • # of teachers: 39
2
GreatSchools Rating

Camelback High School

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

$472,500$577,500$525,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

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$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,937
Property Tax -$310
Property Insurance -$71
HOA -$235
Property Management Fees -$99
CASH FLOW
-$642

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.

$525,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.72%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$660

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,608

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,010
1$2,0102$2,1953$2,2504$2,6505$2,895
$2,895
RENT COMPS ANALYSIS
  • 2825 N 42nd Street #9 Phoenix, 1
    • 3 beds 4 baths ∙ 2,229 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,229 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.90
    •  
  • 3030 N 38th Street #f112 Phoenix, 2
    • 3 beds 3 baths ∙ 1,911 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,911 Sqft ∙ Built 2017
    LEASED 03/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.15
    •  
  • 3446 E Avalon Drive Phoenix, 3
    • 3 beds 4 baths ∙ 1,953 Sqft ∙ Built 2007 3 beds 4 baths ∙ 1,953 Sqft ∙ Built 2007
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.15
    •  
  • 3028 N 37th Place Phoenix, 4
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2019
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.23
    •  
  • 4804 E Merrell Street Phoenix, 5
    • 3 beds 3 baths ∙ 2,513 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,513 Sqft ∙ Built 2002
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.15
    •  
PROPERTY LISTING DETAILS
Eric Dixon
On Q Property Management
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121252
Last Updated: 08/22/2020
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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