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28621 N 21st Lane Phoenix, AZ 85085

4 Beds 2 Baths 1,782 sqft Built 2004

$365,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $204.83
  • 2 Days on Market
  • MLS # : 6170822
  • Updated Date : 12/12/2020 at 15:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,782 sqft
  • Baths : 2 full
Listing Agent

Caprock Properties, Llc

Listing Agent's Description

Beautiful home in highly sought after Dynamite Mountain Ranch! This light and bright 4 bedroom 2 bathroom home features vaulted ceilings, walk-in master closet, 2-car garage, and a primo location backing to a desert greenbelt. Home has new carpeting in the bedrooms and new interior paint (both 12/2020). The spacious backyard features newly installed lawn, but is low maintenance, with room for a pool if you want. Close to shopping, hiking, and the I-17 freeway. Blink and this little lovely will be gone!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Gateway

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k395k

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

Neighborhood: North Gateway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342120

* 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
Sonoran Foothills School Primary Regular NA
Sonoran Foothills School Middle Regular NA
Barry Goldwater High School High Regular 1,856 88 4

Sonoran Foothills School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Sonoran Foothills School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,347
Property Tax -$218
Property Insurance -$62
HOA -$15
Property Management Fees -$99
CASH FLOW
-$1

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.

$365,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$25,291

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,751

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7403$1,7954$1,8005$1,995
$1,995
RENT COMPS ANALYSIS
  • 28621 N 21st Lane Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.98
    •  
  • 2165 W Barwick Drive Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 2007
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.02
    •  
  • 29416 N 24th Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2007
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 2431 W Via Dona Road Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2005
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 27913 N 23 Drive Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2002
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.01
    •  
PROPERTY LISTING DETAILS
Lynda Person
Caprock Properties, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170822
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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