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2917 W Marlette Avenue Phoenix, AZ 85017

4 Beds 4 Baths 2,159 sqft Built 1958

$270,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1958
  • Price/Sqft : $125.06
  • 2 Days on Market
  • MLS # : 6157657
  • Updated Date : 11/07/2020 at 14:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,159 sqft
  • Baths : 3 full , 1 half
Listing Agent

Highland Real Estate

Listing Agent's Description

Great 4 bedroom 3.75 bathroom all block home located in Central Phoenix. Features include a large owners suite with a large bathroom, bedroom #2 has its own bathroom, 2 main living areas (1 with a fireplace), a large eat-in kitchen, and a split guest bedroom with a bathroom on that side of the home. Out back is a large covered patio and plenty of yard space. This home is a great opportunity!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7781567

* 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
Ocotillo Elementary School Primary Regular 789 36 2
Palo Verde Middle School Middle Regular 925 46 3
Washington High School High Regular 1,714 73 4

Ocotillo Elementary School

  • Education Level: Primary
  • # of students: 789
  • # of teachers: 36
2
GreatSchools Rating

Palo Verde Middle School

  • Education Level: Middle
  • # of students: 925
  • # of teachers: 46
3
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 73
4
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$996
Property Tax -$161
Property Insurance -$69
Property Management Fees -$99
CASH FLOW
$135

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.

$270,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.8%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$33,734

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
  • $1,646

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3493$1,4254$1,5005$1,695
$1,695
RENT COMPS ANALYSIS
  • 2917 W Marlette Avenue Phoenix, AZ 1
    • 4 beds 4 baths ∙ 2,159 Sqft ∙ Built 1958 4 beds 4 baths ∙ 2,159 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5620 N 34th Avenue Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1954
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.73
    •  
  • 3444 W Morten Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 1969
    property image
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.73
    •  
  • 2122 W Keim Drive Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,907 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,907 Sqft ∙ Built 1958
    property image
    LEASED 05/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
  • 2911 W Cactus Wren Drive Phoenix, AZ 5
    • 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 1972
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
PROPERTY LISTING DETAILS
Rick Ramella
Highland Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157657
Last Updated: 11/07/2020
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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