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2915 E Corrine Drive Phoenix, AZ 85032

3 Beds 2 Baths 1,798 sqft Built 1971

INVESTimate

$369,900

List Price

$1,650

$1,485 - $1,815

Rent Est.

$398,937  ( +7.85%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $205.73
  • 8 Days on Market
  • MLS # : 6119639
  • Updated Date : 08/20/2020 at 00:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,798 sqft
  • Baths : 2 full
Listing Agent

Dpr Realty Llc

Listing Agent's Description

Beautiful remodel 3 bed 2 bath house in one the best location in N Phoenix, Open floor plan with upgraded kitchen, including Quartz counter-top with brand new SS appliance. Modern ceramic tile newer baseboard, upgraded bathrooms. RV gate with No HOA and big backyard and Extended covered patio. New double pane windows. Close to the Freeway and shopping.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Paradise Valley West

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k276k

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

Neighborhood: Paradise Valley West

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
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

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$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,365
Property Tax -$233
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$109

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.

$369,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.85%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$17,825

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,883

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6753$1,8004$1,9005$2,100
$2,100
RENT COMPS ANALYSIS
  • 2915 E Corrine Drive Phoenix, 1
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 2733 E Larkspur Drive Phoenix, 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
    •  
  • 2706 E Sylvia Street Phoenix, 3
    • 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
    •  
  • 2810 E Willow Avenue Phoenix, 4
    • 4 beds 2 baths ∙ 1,650 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,650 Sqft ∙ Built 1973
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.15
    •  
  • 2835 E Pershing Avenue Phoenix, 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
Mehrzad Paimany
Dpr Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119639
Last Updated: 08/20/2020
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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