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2914 E Cactus Road Phoenix, AZ 85032

3 Beds 2 Baths 1,496 sqft Built 1970

$360,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $240.64
  • 2 Days on Market
  • MLS # : 6163508
  • Updated Date : 11/21/2020 at 11:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,496 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Must see this beautiful updated home! This show stopper has clean, modern curb appeal with an RV gate, brand new windows, ducting, electrical, fresh interior paint, and updated plank flooring throughout! The eat-in kitchen boasts beautiful cherry cabinets, tons of natural light, all new appliances, and breakfast bar seating. The bedrooms are spacious with lush carpet, plenty of closet space and the guest bathroom has been beautifully updated a new vanity and custom tiled shower. The backyard is HUGE and has tons of potential to turn it into the backyard of your dreams! With the perfect sized pool, low maintenance landscaping and room for all your motorized toys! Located just minutes form Paradise Valley Mall and quick access to the freeway. This home won't last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Topaz Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Topaz Park

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
Larkspur Elementary School Primary Regular 517 34 4
Shea Middle School Middle Regular 641 37 6
Shadow Mountain High School High Regular 1,390 67 3

Larkspur Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 34
4
GreatSchools Rating

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
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,328
Property Tax -$227
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$100

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.

$360,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.45%

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

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$17,895

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,806

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$1,7253$1,7504$1,8955$1,975
$1,975
RENT COMPS ANALYSIS
  • 2914 E Cactus Road Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $1.08
    •  
  • 2922 E Sierra Street Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1971
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.22
    •  
  • 3033 E Dahlia Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1972
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.10
    •  
  • 3016 E Dahlia Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1972
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.23
    •  
  • 12807 N 31st Street Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1972
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.28
    •  
PROPERTY LISTING DETAILS
George Laughton
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163508
Last Updated: 11/21/2020
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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