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3002 E Golden Vista Lane Phoenix, AZ 85028

3 Beds 2 Baths 2,182 sqft Built 1973

$589,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $269.94
  • 1 Days on Market
  • MLS # : 6182142
  • Updated Date : 01/17/2021 at 01:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,182 sqft
  • Baths : 2 full
Listing Agent

Re/max Fine Properties

Listing Agent's Description

This well appointed three-bedroom two-bath is welcoming you home! Situated in the corner of a quiet cul-de-sac, step through the front door into a bright living room with a beamed high ceiling. Directly off the living room, you'll find an airy dining room, with plenty of space to host friends and family. The dining area seamlessly transitions into the kitchen. Designed with convenience in mind, the kitchen features wood cabinets, stainless steel appliances, an eating bar, and a bank of windows overlooking the backyard. The master bedroom suite sits at the front of the house with views of the lush front yard. Step into the ensuite master bathroom outfitted with double sinks and ample closet space. Pamper yourself in the spacious walk-in shower with a bench. In addition to the two other...

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PRICE & RENT TRENDS

Neighborhood: Heritage Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k492k

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

Neighborhood: Heritage Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9342249

* 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
Mercury Mine Elementary School Primary Regular 546 27 8
Mercury Mine Elementary School Middle Regular 546 27 8
Shadow Mountain High School High Regular 1,390 67 3

Mercury Mine Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Mercury Mine Elementary School

  • Education Level: Middle
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$530,100$647,900$589,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$2,046
Property Tax -$371
Property Insurance -$70
HOA -$100
Property Management Fees -$99
CASH FLOW
-$685

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.

$589,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

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$161,835

INVESTMENT

$161,835

Down Payment
$147,250
Rehab Estimate
$5,750
Closing Costs
$8,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,046

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,250
Loan Amount $441,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$478

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,018

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,8003$1,9504$2,0005$2,195
$2,195
RENT COMPS ANALYSIS
  • 3002 E Golden Vista Lane Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,182 Sqft ∙ Built 1973 3 beds 2 baths ∙ 2,182 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.92
    •  
  • 3550 E Cannon Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 1971
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.93
    •  
  • 3429 E Cochise Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 2,137 Sqft ∙ Built 1970 3 beds 2 baths ∙ 2,137 Sqft ∙ Built 1970
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 3409 E Mountain View Road Phoenix, AZ 3
    • 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 1960 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 1960
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
  • 3555 E North Lane Phoenix, AZ 5
    • 4 beds 2 baths ∙ 2,175 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,175 Sqft ∙ Built 1971
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.01
    •  
PROPERTY LISTING DETAILS
Grant Van Dyke
Re/max Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6182142
Last Updated: 01/17/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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