Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

30 E Harmont Drive Phoenix, AZ 85020

3 Beds 3 Baths 2,583 sqft Built 1964

INVESTimate

$695,000

List Price

$2,650

$2,400 - $2,900

Rent Est.

$744,415  ( +7.11%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1964
  • Price/Sqft : $269.07
  • 5 Days on Market
  • MLS # : 6118117
  • Updated Date : 08/22/2020 at 02:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,583 sqft
  • Baths : 3 full
Listing Agent

West Usa Realty

Listing Agent's Description

Check out this rare opportunity to own a classic Phoenix ranch home, residing on an almost 13,000 sq. foot lot in the highly sought after North Central Corridor! This updated home boasts 3 bedrooms, 3 FULL baths, sparkling pool, and expansive grassy front/backyards situated on a dead-end block. The gourmet kitchen includes: granite countertops, pot filler, gas stove, and built-in wine rack. Additional features: hardwood floors, wood burning fireplace, window shutters, recessed lighting and french doors. Let's talk about location. Just minutes to the 51 Freeway and hiking at PHX Mtns/Piestewa Peak. Close to retail/dining along Central Ave./7th St. Direct access to Murphy's Bridle Path! Home resides inside the Sunnnyslope High School boundary. Schedule a visit or view the 3D Virtual Tour!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mountain View Homes

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500kPrice in $91k502k

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

Neighborhood: Mountain View Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9342314

* 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
Richard E. Miller Elementary School Primary Regular 569 26 4
Royal Palm Middle School Middle Regular 725 41 3
Sunnyslope High School High Regular 2,064 88 6

Richard E. Miller Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 26
4
GreatSchools Rating

Royal Palm Middle School

  • Education Level: Middle
  • # of students: 725
  • # of teachers: 41
3
GreatSchools Rating

Sunnyslope High School

  • Education Level: High
  • # of students: 2,064
  • # of teachers: 88
6
GreatSchools Rating
 

$625,500$764,500$695,000

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$2,564
Property Tax -$415
Property Insurance -$78
Property Management Fees -$99
CASH FLOW
-$505

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.

$695,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.11%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$189,925

INVESTMENT

$189,925

Down Payment
$173,750
Rehab Estimate
$5,750
Closing Costs
$10,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,564

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $173,750
Loan Amount $521,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$10,998

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,363

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2454$2,6505$2,895
$2,895
RENT COMPS ANALYSIS
  • 30 E Harmont Drive Phoenix, 4
    • 3 beds 3 baths ∙ 2,583 Sqft ∙ Built 1964 3 beds 3 baths ∙ 2,583 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.03
    •  
  • 202 E El Caminito Drive Phoenix, 1
    • 3 beds 2 baths ∙ 2,304 Sqft ∙ Built 1969 3 beds 2 baths ∙ 2,304 Sqft ∙ Built 1969
    LEASED 04/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
  • 524 W Harmont Drive Phoenix, 2
    • 4 beds 2 baths ∙ 2,548 Sqft ∙ Built 1954 4 beds 2 baths ∙ 2,548 Sqft ∙ Built 1954
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
  • 604 E Orangewood Avenue Phoenix, 3
    • 3 beds 2 baths ∙ 2,510 Sqft ∙ Built 1961 3 beds 2 baths ∙ 2,510 Sqft ∙ Built 1961
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,245
    • $0.89
    •  
  • 215 W El Caminito Drive Phoenix, 5
    • 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 1971
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.00
    •  
PROPERTY LISTING DETAILS
Dan Mullarkey
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6118117
Last Updated: 08/22/2020
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.

BESbswy