Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2921 W El Caminito Drive Phoenix, AZ 85051

4 Beds 2 Baths 2,005 sqft Built 1953

$315,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $157.11
  • 9 Days on Market
  • MLS # : 6193846
  • Updated Date : 02/19/2021 at 18:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,005 sqft
  • Baths : 2 full
Listing Agent

Novus Realty Agency

Listing Agent's Description

HONEY STOP THE CAR! THIS IS IT! HUGE HOME SITTING ON A HUGE CORNER LOT. PERFECT POOL READY FOR THOSE LONG AND HOT SUMMER DAYS! IMAGINE THE BBQ'S YOU CAN HOST? THE PRIVATE OASIS YOU CAN ENJOY AND THE SPACE TO DECORATE THE HOME LIKE A LIFE & STYLE MAGAZINE. YOU CAN BE THE ENVY OF EVERYONE ON THE BLOCK! AGENTS PLEASE TAKE NOTE OF THE PRIVATE REMARKS IN ORDER FOR VIEWINGS TO GO AS SMOOTHLY AS POSSIBLE.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alta Vista

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $72k271k

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

Neighborhood: Alta Vista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6461567

* 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
Palo Verde Middle School Middle Regular 925 46 3
Cortez High School High Regular 1,127 55 4

Palo Verde Middle School

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

Cortez High School

  • Education Level: High
  • # of students: 1,127
  • # of teachers: 55
4
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,094
Property Tax -$188
Property Insurance -$66
Property Management Fees -$99
CASH FLOW
$23

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.

$315,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.9%
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

PROJECTED ANNUAL CASH FLOW

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

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$20,564

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,594

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,5153$1,5454$1,5755$1,695
$1,695
RENT COMPS ANALYSIS
  • 2921 W El Caminito Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 1953 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.73
    •  
  • 3827 W Loma Lane Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 1971
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,515
    • $0.77
    •  
  • 10410 N 37th Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 1971
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.80
    •  
  • 3602 W Ruth Avenue Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1960
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.81
    •  
  • 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
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
PROPERTY LISTING DETAILS
Ivon Estrada
Novus Realty Agency
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193846
Last Updated: 02/19/2021
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.

BESbswy