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2913 N 89th Drive Phoenix, AZ 85037

4 Beds 3 Baths 1,931 sqft Built 2001

$344,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $178.15
  • 2 Days on Market
  • MLS # : 6210113
  • Updated Date : 03/20/2021 at 20:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,931 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gold Trust Realty

Listing Agent's Description

Renovated - New paint, New laminated wood flooring upstairs. All bedrooms and a large loft are located upstairs. Come take advantage of this 4 bed - 2.5 bath with nice yard, new security door, and nearby the freeway, shopping centers, and schools.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k271k

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

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6831567

* 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
Copper Canyon High School High Regular 2,251 82 1

Copper Canyon High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 82
1
GreatSchools Rating
 

$309,600$378,400$344,000

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 -$1,195
Property Tax -$213
Property Insurance -$65
HOA -$53
Property Management Fees -$99
CASH FLOW
-$174

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.

$344,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 13.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$96,910

INVESTMENT

$96,910

Down Payment
$86,000
Rehab Estimate
$5,750
Closing Costs
$5,160

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,195

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,000
Loan Amount $258,000
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$7,641

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,511

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,5004$1,5755$1,695
$1,695
RENT COMPS ANALYSIS
  • 2913 N 89th Drive Phoenix, AZ 2
    • 4 beds 3 baths ∙ 1,931 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,931 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.75
    •  
  • 8351 W Vernon Avenue Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2008
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.75
    •  
  • 8476 W Lewis Avenue Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2008
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
  • 8731 W Wilshire Drive Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1988
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.75
    •  
  • 2537 N 88th Lane Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1986
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
PROPERTY LISTING DETAILS
Wendy Kuang
Gold Trust Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6210113
Last Updated: 03/20/2021
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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