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2911 E Surrey Avenue Phoenix, AZ 85032

4 Beds 2 Baths 2,136 sqft Built 1971

$395,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $184.93
  • 2 Days on Market
  • MLS # : 6190663
  • Updated Date : 02/06/2021 at 20:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,136 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

NEW CARPET AND FRESH PAINT!!!Paradise Valley School District! Charm and character in the foothills! Large 4 bedroom with a sparkling diving pool. The pool has been completely removed and is self fill and cleaning! Cozy family room with a fireplace. Spacious kitchen w/ travertine countertops and a large dining area! Master bedroom has his and her closets and nice updated bathroom. Artificial grass in the front yard. The home also has an brand new RV gate and an RV charging plug in. All new duct work completed in 2016. New HVAC unit put in 2019

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Paradise Valley Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Paradise Valley Highlands

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
Shea Middle School Middle Regular 641 37 6
Shadow Mountain High School High Regular 1,390 67 3

Shea Middle School

  • Education Level: Middle
  • # of students: 641
  • # of teachers: 37
6
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,372
Property Tax -$249
Property Insurance -$69
Property Management Fees -$99
CASH FLOW
$111

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.

$395,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.6%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$34,509

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
  • $2,147

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6753$1,8004$1,8005$2,100
$2,100
RENT COMPS ANALYSIS
  • 2911 E Surrey Avenue Phoenix, AZ 1
    • 4 beds 2 baths ∙ 2,136 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,136 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2733 E Larkspur Drive Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 1970
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.92
    •  
  • 12629 N 33rd Street Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1973
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
  • 2706 E Sylvia Street Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 1970
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 2835 E Pershing Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1972
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.15
    •  
PROPERTY LISTING DETAILS
Shanna Reidhead
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190663
Last Updated: 02/06/2021
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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