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2926 E Wayland Drive Phoenix, AZ 85040

4 Beds 3 Baths 1,942 sqft Built 2018

INVESTimate

$399,900

List Price

$1,600

$1,440 - $1,760

Rent Est.

$447,368  ( +11.87%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $205.92
  • 5 Days on Market
  • MLS # : 6121366
  • Updated Date : 08/22/2020 at 12:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,942 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Excalibur

Listing Agent's Description

This beautiful home is located in a friendly and safe gated community and offers 4 bedrooms , 2.75 bathrooms and 1,942 square feet! With-in walking distance you'll find dinning options, shopping, entertainment, and the beautiful Esteban Park! This home features N/S exposures, 9 ft ceilings, a chefs kitchen including stainless appliances, antiqued cabinets with 42'' upper cabinets, walk-in pantry,and quartz counter tops! This home also includes wood-like tile floors, full house water treatment system, water softener, gas tank-less water heater, upgraded cabinets in bathrooms, blinds for all the windows, the master bedroom is a split floor-plan with a walk in closet! The entire home is in designer paint colors and the backyard has synthetic grass backyard!! Schedule a showing today!!

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
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,440$1,760$1,600

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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,475
Property Tax -$260
Property Insurance -$65
HOA -$122
Property Management Fees -$99
CASH FLOW
-$421

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.

$399,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.87%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,553

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,680

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6003$1,6504$1,6955$1,695
$1,695
RENT COMPS ANALYSIS
  • 2926 E Wayland Drive Phoenix, 2
    • 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 2018 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
  • 2950 E Mobile Lane Phoenix, 1
    • 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
    •  
  • 2723 E Darrel Road Phoenix, 3
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2001
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 2113 E Sunland Avenue Phoenix, 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, 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
Jason L Penrose
Re/max Excalibur
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121366
Last Updated: 08/22/2020
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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