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2926 E Sunland Avenue Phoenix, AZ 85040

3 Beds 3 Baths 1,806 sqft Built 2018

$385,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $213.18
  • 5 Days on Market
  • MLS # : 6152674
  • Updated Date : 11/02/2020 at 12:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,806 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

RARE OPPORTUNITY TO OWN ONE OF THE VERY FEW 2-STORY HOMES & LARGEST LOTS IN SOUTHERN ENCLAVE! Located in a great central location with convenient freeway access, this model-like home features a spacious and bright kitchen with large eat-in island, dark espresso cabinets with high end GRANITE countertops and upgraded tile flooring. Three bed, loft and 2.5 bathrooms, open great room for entertaining, luxurious enlarged master shower, generous backyard size and much more!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: South Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: South Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7291567

* 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
T.g. Barr School Primary Regular 516 29 2
T.g. Barr School Middle Regular 516 29 2
South Mountain High School High Regular 1,706 102 2

T.g. Barr School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 29
2
GreatSchools Rating

T.g. Barr School

  • Education Level: Middle
  • # of students: 516
  • # of teachers: 29
2
GreatSchools Rating

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,420
Property Tax -$250
Property Insurance -$62
HOA -$122
Property Management Fees -$99
CASH FLOW
-$454

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.

$385,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.9%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$669

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,567

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,5004$1,6955$1,695
$1,695
RENT COMPS ANALYSIS
  • 2926 E Sunland Avenue Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 2620 E Hidalgo Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 2004
    LEASED 05/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.89
    •  
  • 2950 E Mobile Lane Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,729 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,729 Sqft ∙ Built 2004
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 2113 E Sunland Avenue Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,951 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,951 Sqft ∙ Built 2005
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 2343 E Sunland Avenue Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,941 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,941 Sqft ∙ Built 2006
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
PROPERTY LISTING DETAILS
Scott Puglisi
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152674
Last Updated: 11/02/2020
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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