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2946 W Thorn Tree Drive Phoenix, AZ 85085

4 Beds 4 Baths 3,247 sqft Built 2014

$635,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $195.57
  • 4 Days on Market
  • MLS # : 6205396
  • Updated Date : 03/13/2021 at 18:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,247 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

Welcome Home to the highly sought after Stoneledge at North Canyon gated community. This Tahoe Model 4 bed/3.5 bath has it all. Designer upgrades include a gourmet kitchen, large granite center island, staggered cabinets, breakfast nook with additional dining that opens to the great room. Double sliding doors lead out to your private backyard and sparkling pool. Upstairs you will find a huge Master Suite with a sitting room, large walk in closet, upgraded master bath with dual sinks, soaking tub and separate shower. Other 3 bedrooms have walk-in closets. This home is energy efficient, tankless water heater, Smart switches, and motion lights and an alarm system. Great community with parks and walking paths

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
Barry Goldwater High School High Regular 1,856 88 4

Barry Goldwater High School

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

$571,500$698,500$635,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$2,206
Property Tax -$380
Property Insurance -$90
HOA -$92
Property Management Fees -$99
CASH FLOW
-$447

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.

$635,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.38%

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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$174,025

INVESTMENT

$174,025

Down Payment
$158,750
Rehab Estimate
$5,750
Closing Costs
$9,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,206

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $158,750
Loan Amount $476,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,846

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,305

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2453$2,2954$2,4205$2,600
$2,600
RENT COMPS ANALYSIS
  • 2946 W Thorn Tree Drive Phoenix, AZ 4
    • 4 beds 4 baths ∙ 3,247 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,247 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.75
    •  
  • 33608 N 25th Avenue Phoenix, AZ 1
    • 4 beds 3 baths ∙ 3,098 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,098 Sqft ∙ Built 2006
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.68
    •  
  • 33510 N 25th Avenue Phoenix, AZ 2
    • 5 beds 3 baths ∙ 3,253 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,253 Sqft ∙ Built 2006
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,245
    • $0.69
    •  
  • 33211 N 24th Drive Phoenix, AZ 3
    • 5 beds 3 baths ∙ 3,333 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,333 Sqft ∙ Built 2005
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.69
    •  
  • 32628 N 24th Drive Phoenix, AZ 5
    • 4 beds 3 baths ∙ 3,339 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,339 Sqft ∙ Built 2004
    property image
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.78
    •  
PROPERTY LISTING DETAILS
Melissa Shepherd
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6205396
Last Updated: 03/13/2021
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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