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29432 N 23rd Drive Phoenix, AZ 85085

3 Beds 3 Baths 2,265 sqft Built 2007

$399,500

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $176.38
  • 5 Days on Market
  • MLS # : 6164751
  • Updated Date : 11/25/2020 at 12:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,265 sqft
  • Baths : 2 full , 1 half
Listing Agent

Urban Luxe Real Estate

Listing Agent's Description

Mountain Views! New carpet in living spaces. 3 bedroom plus loft, 2.5 bath home in North Gateway in north Phoenix. Open floor plan, soaring ceilings, bay windows, great room, open stairway, loft overlooking great room. kitchen with breakfast bar overlooking living Area, lots of counterspace & cabinets, pantry, breakfast nook. Master suite has bay window with amazing views, walk-in closet, double sinks, vanity, garden tub, separate shower. Extended covered patio, huge yard, RV gate, mountain views!!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Gateway

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k395k

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

Neighborhood: North Gateway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342120

* 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
Sonoran Foothills School Primary Regular NA
Sonoran Foothills School Middle Regular NA
Barry Goldwater High School High Regular 1,856 88 4

Sonoran Foothills School

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

Sonoran Foothills School

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

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$359,550$439,450$399,500

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,474
Property Tax -$239
Property Insurance -$71
HOA -$54
Property Management Fees -$99
CASH FLOW
-$177

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.

$399,500

PROJECTED PRICE

$1,760

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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-$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,618

INVESTMENT

$111,618

Down Payment
$99,875
Rehab Estimate
$5,750
Closing Costs
$5,993

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,474

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,875
Loan Amount $299,625
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$12,770

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,869

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7603$1,8004$1,9005$1,995
$1,995
RENT COMPS ANALYSIS
  • 29432 N 23rd Drive Phoenix, AZ 2
    • 3 beds 3 baths ∙ 2,265 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,265 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.78
    •  
  • 2526 W Cordia Lane Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 2007
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 28943 N Nobel Road Phoenix, AZ 3
    • 3 beds 2 baths ∙ 2,313 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,313 Sqft ∙ Built 2004
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 2242 W Peak View Road Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,313 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,313 Sqft ∙ Built 2004
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
  • 2205 W Steed Ridge Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,313 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,313 Sqft ∙ Built 2005
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
PROPERTY LISTING DETAILS
David B Schenck
Urban Luxe Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164751
Last Updated: 11/25/2020
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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