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2931 E Grovers Avenue Phoenix, AZ 85032

4 Beds 2 Baths 2,341 sqft Built 2017

$440,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $187.95
  • 3 Days on Market
  • MLS # : 6194972
  • Updated Date : 02/28/2021 at 03:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,341 sqft
  • Baths : 2 full
Listing Agent

Century 21 Arizona Foothills

Listing Agent's Description

Welcome to your home in NE Phoenix. Conveniently located near the 101 and the 51 this 4 bed, 2 bath, newer home sits on a huge lot. No HOA means you can make your backyard your very own oasis. Home features 9ft ceilings with beautiful wood-look and tile floors with carpet in all the right places. Open concept floor plan is perfect for entertaining. Kitchen boast custom cabinets, stainless steel appliances with antimicrobial quartz countertops and a large walk-in pantry.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Campo Bello

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Campo Bello

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Vista Verde Middle School Middle Regular 637 31 4
Paradise Valley High School High Regular 1,806 99 5
Paradise Valley High School High Unknown NA

Vista Verde Middle School

  • Education Level: Middle
  • # of students: 637
  • # of teachers: 31
4
GreatSchools Rating

Paradise Valley High School

  • Education Level: High
  • # of students: 1,806
  • # of teachers: 99
5
GreatSchools Rating

Paradise Valley High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,528
Property Tax -$277
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
-$47

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.

$440,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 3.9%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$22,122

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,072

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9253$1,9304$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 2931 E Grovers Avenue Phoenix, AZ 3
    • 4 beds 2 baths ∙ 2,341 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,341 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.82
    •  
  • 1920 E Bell Road #1121 Phoenix, AZ 1
    • 4 beds 4 baths ∙ 2,124 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,124 Sqft ∙ Built 2006
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 18611 N 22nd Street #61 Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 1999
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.81
    •  
  • 2729 E Shady Glen Drive Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2007
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 3713 E Utopia Road Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,313 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,313 Sqft ∙ Built 2007
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
PROPERTY LISTING DETAILS
Brooke C Doucett
Century 21 Arizona Foothills
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6194972
Last Updated: 02/28/2021
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.

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