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2901 E Libby Street Phoenix, AZ 85032

2 Beds 1 Baths 1,320 sqft Built 1985

$299,995

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $227.27
  • 3 Days on Market
  • MLS # : 6187329
  • Updated Date : 01/29/2021 at 18:42
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,320 sqft
  • Baths : 1 full
Listing Agent

Homie

Listing Agent's Description

2 bed/1 bath home in north Phoenix near Desert Ridge area! Get to almost anywhere in the valley in 20 minutes. Just minutes from the Loop 101, the 51, Mayo Clinic, Desert Ridge Mall and within the Paradise Valley School District. Short distance to elementary and middle schools. Fireplace, open floor plan. Large workshop area. Includes all kitchen appliances, washer/dryer and extra fridge. Large low maintenance backyard. Corner lot with 2 RV gates. NO HOA

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Pepper Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Pepper Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8351567

* 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
Vista Verde Middle School Middle Regular 637 31 4
Paradise Valley High School High Regular 1,806 99 5
Paradise Valley High School High Unknown NA

Vista Verde Middle School

  • Education Level: Middle
  • # of students: 637
  • # of teachers: 31
4
GreatSchools Rating

Paradise Valley High School

  • Education Level: High
  • # of students: 1,806
  • # of teachers: 99
5
GreatSchools Rating

Paradise Valley High School

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

$269,996$329,995$299,995

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,042
Property Tax -$189
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
$67

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.

$299,995

PROJECTED PRICE

$1,450

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,249

INVESTMENT

$85,249

Down Payment
$74,999
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,999
Loan Amount $224,996
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$24,379

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
  • $1,597

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4803$1,6454$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 2901 E Libby Street Phoenix, AZ 1
    • 2 beds 1 baths ∙ 1,320 Sqft ∙ Built 1985 2 beds 1 baths ∙ 1,320 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 18042 N 25th Way Phoenix, AZ 2
    • 2 beds 3 baths ∙ 1,191 Sqft ∙ Built 1985 2 beds 3 baths ∙ 1,191 Sqft ∙ Built 1985
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.24
    •  
  • 18420 N 25th Street Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,363 Sqft ∙ Built 1986 2 beds 2 baths ∙ 1,363 Sqft ∙ Built 1986
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.21
    •  
  • 18040 N 24th Place Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,433 Sqft ∙ Built 1986 2 beds 2 baths ∙ 1,433 Sqft ∙ Built 1986
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.15
    •  
  • 18410 N 25th Street Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,363 Sqft ∙ Built 1986 2 beds 2 baths ∙ 1,363 Sqft ∙ Built 1986
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.24
    •  
PROPERTY LISTING DETAILS
Dorrie J Sauerzopf
Homie
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187329
Last Updated: 01/29/2021
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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