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2946 E Flower Street Phoenix, AZ 85016

3 Beds 1 Baths 1,111 sqft Built 1950

$420,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $378.04
  • 4 Days on Market
  • MLS # : 6205807
  • Updated Date : 03/12/2021 at 15:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,111 sqft
  • Baths : 1 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Phoenix one-story cul-de-sac home offers a one-car garage.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Camelback East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $91k307k

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

Neighborhood: Camelback East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
Camelback High School High Regular 2,048 110 4
Phoenix Coding Academy High Regular NA
Phoenix Coding Academy High Unknown NA

Camelback High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 110
4
GreatSchools Rating

Phoenix Coding Academy

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

Phoenix Coding Academy

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

$378,000$462,000$420,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,459
Property Tax -$266
Property Insurance -$49
Property Management Fees -$99
CASH FLOW
-$453

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$420,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,152

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $1,555

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$1,249
1$1,2492$1,2953$1,3504$1,4205$1,600
$1,600
RENT COMPS ANALYSIS
  • 2946 E Flower Street Phoenix, AZ 4
    • 3 beds 1 baths ∙ 1,111 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,111 Sqft ∙ Built 1950
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.28
    •  
  • 3402 N 32nd Street #158 Phoenix, AZ 1
    • 3 beds 2 baths ∙ 941 Sqft ∙ Built 1969 3 beds 2 baths ∙ 941 Sqft ∙ Built 1969
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $1.33
    •  
  • 3402 N 32nd Street #147 Phoenix, AZ 2
    • 3 beds 2 baths ∙ 940 Sqft ∙ Built 1969 3 beds 2 baths ∙ 940 Sqft ∙ Built 1969
    property image
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.38
    •  
  • 3402 N 32nd Street #113 Phoenix, AZ 3
    • 3 beds 2 baths ∙ 940 Sqft ∙ Built 1969 3 beds 2 baths ∙ 940 Sqft ∙ Built 1969
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.44
    •  
  • 3001 E Avalon Drive Phoenix, AZ 5
    • 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1954
    property image
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.45
    •  
PROPERTY LISTING DETAILS
Jacqueline Moore
Opendoor Brokerage, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6205807
Last Updated: 03/12/2021
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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