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2827 W Herro Lane Phoenix, AZ 85017

3 Beds 2 Baths 1,345 sqft Built 2005

$289,900

List Price

$1,120

$1K - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $215.54
  • 5 Days on Market
  • MLS # : 6195426
  • Updated Date : 02/18/2021 at 16:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,345 sqft
  • Baths : 2 full
Listing Agent

Re/max Desert Showcase

Listing Agent's Description

Beautiful elegant court yard entrance leads you into a well designed open floor plan. Professionally designed private backyard with large covered patio and artificial grass area. High end LG washer and dryer convey

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Harbor Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Harbor Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7771567

* 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
Palo Verde Middle School Middle Regular 925 46 3
Washington High School High Regular 1,714 73 4

Palo Verde Middle School

  • Education Level: Middle
  • # of students: 925
  • # of teachers: 46
3
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 73
4
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$1,007
Property Tax -$173
Property Insurance -$53
HOA -$24
Property Management Fees -$99
CASH FLOW
-$237

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.

$289,900

PROJECTED PRICE

$1,120

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 14.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,646

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
  • $1,116

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,350
$1,350
RENT COMPS ANALYSIS
  • 2827 W Herro Lane Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7734 N 30th Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1987
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.82
    •  
  • 4138 W Oregon Avenue Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,601 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,601 Sqft ∙ Built 2000
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.84
    •  
PROPERTY LISTING DETAILS
Bruce Kuntz
Re/max Desert Showcase
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6195426
Last Updated: 02/18/2021
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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