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2947 N 81st Avenue Phoenix, AZ 85033

3 Beds 1 Baths 1,162 sqft Built 1961

$210,000

List Price

$940

$846 - $1K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $180.72
  • 2 Days on Market
  • MLS # : 6187593
  • Updated Date : 01/30/2021 at 19:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,162 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Elite

Listing Agent's Description

Do not miss this mid century 4bed/1.5bath available in Phoenix. The charming light and bright interior is full of potential. Great floor plan with just the right amount of open and a spacious well appointed kitchen with stainless steel range. Bedrooms are generously sized and offer flexibility. The low maintenance expansive backyard is ready to made into your own private oasis. Great opportunity! Home needs TLC, but priced accordingly. HVAC 2 years old, dual pane vinyl windows 6 years old, roof 7 years old, stucco exterior. A little sweat equity and you got yourself a great income producing property.See it today and make it yours.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k271k

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

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6831567

* 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
Manuel Pena Jr. Elementary School Primary Regular 923 38 2
Estrella Middle School Middle Regular 1,338 55 4
Trevor Browne High School High Regular 3,077 144 3

Manuel Pena Jr. Elementary School

  • Education Level: Primary
  • # of students: 923
  • # of teachers: 38
2
GreatSchools Rating

Estrella Middle School

  • Education Level: Middle
  • # of students: 1,338
  • # of teachers: 55
4
GreatSchools Rating

Trevor Browne High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 144
3
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$846$1,034$940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $940
EXPENSES Loan Payment -$729
Property Tax -$126
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
-$65

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.

$210,000

PROJECTED PRICE

$940

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 13.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$7,664

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $940

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $949

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$940
1$9402$1,0493$1,1494$1,200
$1,200
RENT COMPS ANALYSIS
  • 2947 N 81st Avenue Phoenix, AZ 1
    • 3 beds 1 baths ∙ 1,162 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,162 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $940
    • $0.81
    •  
  • 3015 N 77th Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1979
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,049
    • $0.75
    •  
  • 7141 W Westview Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1971
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,149
    • $0.85
    •  
  • 7507 W Roma Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1978
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.85
    •  
PROPERTY LISTING DETAILS
Shannon Cunningham
Keller Williams Elite
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187593
Last Updated: 01/30/2021
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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