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PROPERTY INFO
FACTS
- Single Family
- Built In 2018
- Price/Sqft : $275.78
- 4 Days on Market
- MLS # : 6198754
- Updated Date : 02/25/2021 at 01:51
CONSTRUCTION
- Beds : 3
- Floor Size : 2,085 sqft
- Baths : 2 full , 1 half
Listing Agent
Russ Lyon Sotheby's International Realty
Listing Agent's Description
Better than new 2 year old home in the resort style community of Sky Crossing has a large backyard with lush artificial grass and colorful plantings. The modern kitchen boasts gray cabinets, granite counters, stainless steel appliances, a large center island w/an array of contemporary pendant lights, & a walk-in pantry accented by a custom barn door. The kitchen opens to the cafe & the gathering room which has a tiled fireplace & built-in media center & a sliding glass door which provides easy access to the extended covered patio running the length of the house. Upstairs the owners suite benefits from gorgeous mountain views and the owners bath has dual sinks, a large shower w/seat & an oversize walk-in closet. There are 2 additional bedrooms, laundry room, hall bathroom & a spacious loft.
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PRICE & RENT TRENDS
Neighborhood: Desert View
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Desert View
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,290 |
| EXPENSES | Loan Payment | -$1,997 |
| Property Tax | -$362 | |
| Property Insurance | -$68 | |
| HOA | -$112 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$348
|
||
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.
$575,000
PROJECTED PRICE
$2,290
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.17% |
| Appreciation Year (1-5) | 3.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.60% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$158,125
LOAN DETAILS
$1,997
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $143,750 |
| Loan Amount | $431,250 |
2.17
YEARS SAVED
$8,492
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$2,966
COMP ESTIMATED VALUE -
$1.42
COMP AVG. RENT PER SQFT
Comps Range
-
2858 E Sands Drive Phoenix, AZ 1
- 3 beds 3 baths ∙ 2,085 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,085 Sqft ∙ Built 2018
![property image]()
- Rent
- Rent Per SQFT
- $0
- $0.00
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23409 N 25th Terrace Phoenix, AZ 2
- 3 beds 2 baths ∙ 1,829 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,829 Sqft ∙ Built 2007
![property image]()
LEASED 02/23/20- Rent
- Rent Per SQFT
- $2,300
- $1.26
-
21244 N 36th Place Phoenix, AZ 3
- 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 2012
![property image]()
LEASED 11/01/20- Rent
- Rent Per SQFT
- $2,600
- $1.39
-
3249 E Louise Drive Phoenix, AZ 4
- 3 beds 2 baths ∙ 1,973 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,973 Sqft ∙ Built 2018
![property image]()
LEASED 09/04/20- Rent
- Rent Per SQFT
- $2,895
- $1.47
-
3318 E Louise Drive Phoenix, AZ 5
- 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2020
![property image]()
LEASED 09/15/20- Rent
- Rent Per SQFT
- $3,200
- $1.57
PROPERTY LISTING DETAILS
Russ Lyon Sotheby's International Realty
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6198754
Last Updated: 02/25/2021
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.
