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2911 E Windmere Drive Phoenix, AZ 85048

3 Beds 3 Baths 1,594 sqft Built 1989

$385,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $241.53
  • 6 Days on Market
  • MLS # : 6152403
  • Updated Date : 11/02/2020 at 11:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,594 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

This home is truly amazing and won't last long! Entertainer's dream back yard centers around a gorgeous 3 tiered fountain, two fire features, mature fruit trees, and maintenance free synthetic grass. Covered extended outdoor bar/kitchen area with tons of patio space, built in BBQ, sink and oversized propane fireplace will make you want to live outdoors. The spotless interior is just as fabulous with wood look tile and stacked stone accents surrounding the fireplace and kitchen walls. Chef's kitchen w/ stainless appliances and granite counters. New everything...AC, roof, appliances, drip system. Garage features 12K in built in cabinetry and granite floors. Home is an established Airbnb averaging$27K/yr. Fabulous community with heated pools and spas, tennis courts, playgrounds, etc.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mirage

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Mirage

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Kyrene De La Estrella Elementary School Primary Regular 440 27 8
Kyrene Akimel A-al Middle School Middle Regular 1,064 52 8
Desert Vista High School High Regular 3,037 130 8

Kyrene De La Estrella Elementary School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 27
8
GreatSchools Rating

Kyrene Akimel A-al Middle School

  • Education Level: Middle
  • # of students: 1,064
  • # of teachers: 52
8
GreatSchools Rating

Desert Vista High School

  • Education Level: High
  • # of students: 3,037
  • # of teachers: 130
8
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,420
Property Tax -$274
Property Insurance -$58
HOA -$4
Property Management Fees -$99
CASH FLOW
-$176

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.

$385,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.0%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$12,162

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,781

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6803$1,8504$1,8755$1,995
$1,995
RENT COMPS ANALYSIS
  • 2911 E Windmere Drive Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,594 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,594 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.05
    •  
  • 3236 E Chandler Boulevard #2024 Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1996
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 3006 E Windmere Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1991
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
  • 3312 E Brookwood Court Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1995
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.13
    •  
  • 3229 E Brookwood Court Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1995
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.20
    •  
PROPERTY LISTING DETAILS
Rich Madden
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152403
Last Updated: 11/02/2020
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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