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

3002 E Glenrosa Avenue Phoenix, AZ 85016

3 Beds 3 Baths 1,924 sqft Built 1955

$599,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $311.33
  • 5 Days on Market
  • MLS # : 6159232
  • Updated Date : 11/14/2020 at 15:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,924 sqft
  • Baths : 3 full
Listing Agent

West Usa Realty

Listing Agent's Description

Amazing location across from Los Olivos Park. Great family home on corner lot. Vaulted ceilings w/ wood accents, travertine tile, & custom light fixtures. Roof & AC replaced 2014. Chef's kitchen w/ stainless steel appliances, granite counters, and custom cherry cabinets. Oversized Master Bedroom closet, dual vanities in master bathroom, & walk-in shower. Great room w/ gas fireplace, covered patio with built-in television entertainment center, speakers, stone tile, + built-in gas BBQ. Surround sound throughout. Walking distance from restaurants & cafes and a few minute drive to Biltmore Fashion Park. Future development, The Farm at Los Olivos, is a 4.5-acre farm to table & community gardening concept. NO HOA!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sharondale South

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k439k

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

Neighborhood: Sharondale South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9341786

* 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
Madison Camelview Elementary School Primary Regular 689 33 4
Madison Park Middle School Middle Regular 423 22 4
Camelback High School High Regular 2,048 110 4

Madison Camelview Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 33
4
GreatSchools Rating

Madison Park Middle School

  • Education Level: Middle
  • # of students: 423
  • # of teachers: 22
4
GreatSchools Rating

Camelback High School

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

$539,100$658,900$599,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,210
Property Tax -$431
Property Insurance -$65
Property Management Fees -$99
CASH FLOW
-$444

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.

$599,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.7%
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$1.6M$1.8M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$10,265

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,785

    COMP ESTIMATED VALUE
  • $1.45

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5003$2,6004$2,8995$3,200
$3,200
RENT COMPS ANALYSIS
  • 3002 E Glenrosa Avenue Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 1955 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3029 E Heatherbrae Drive Phoenix, AZ 2
    • 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1955 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1955
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.27
    •  
  • 3053 E Elm Street Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1954
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.50
    •  
  • 3114 E Coolidge Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 1955
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,899
    • $1.49
    •  
  • 3129 E Turney Avenue Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1956 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1956
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.53
    •  
PROPERTY LISTING DETAILS
Lauren Rosin
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159232
Last Updated: 11/14/2020
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