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3015 E Meadowbrook Avenue Phoenix, AZ 85016

3 Beds 2 Baths 1,539 sqft Built 1958

INVESTimate

$410,000

List Price

$1,790

$1,611 - $1,969

Rent Est.

$437,347  ( +6.67%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1958
  • Price/Sqft : $266.41
  • 6 Days on Market
  • MLS # : 6120510
  • Updated Date : 08/25/2020 at 21:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,539 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

This charming mid century ranch house is a perfect opportunity for a buyer to purchase a home in one of the most desirable areas in Phoenix. Featuring 3 bedrooms, 2 baths, kitchen, living room with a fireplace, block construction, and double garage. The location can't be beat! This large corner lot sits in the middle of a fantastic neighborhood with quiet streets, beautiful homes, and lush green trees. Right next to Biltmore, Arcadia, and Camelback Corridor restaurants, shopping, and services. The spacious backyard comes with a patio, 2 sheds, and is great for entertaining. This house is being sold in 'as is' condition. Don't miss this great opportunity!

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PRICE & RENT TRENDS

Neighborhood: Campbell Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k454k

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

Neighborhood: Campbell Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9342019

* 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
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,513
Property Tax -$377
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$256

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.

$410,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.67%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,784

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
  • $1,778

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4953$1,5954$1,9505$2,100
$2,100
RENT COMPS ANALYSIS
  • 3015 E Meadowbrook Avenue Phoenix, 1
    • 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4514 N 34th Street Phoenix, 2
    • 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 1957
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.01
    •  
  • 3122 E Montecito Avenue Phoenix, 3
    • 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 1955
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.99
    •  
  • 2838 E Avenida Olivos Street Phoenix, 4
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1975
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.29
    •  
  • 2617 E Campbell Avenue #7 Phoenix, 5
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1961
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.33
    •  
PROPERTY LISTING DETAILS
Bradley Nirk
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120510
Last Updated: 08/25/2020
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.

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