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3018 W Butler Drive Phoenix, AZ 85051

4 Beds 2 Baths 1,764 sqft Built 1954

INVESTimate

$239,500

List Price

$1,280

$1,152 - $1,408

Rent Est.

$265,629  ( +10.91%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $135.77
  • 8 Days on Market
  • MLS # : 6119673
  • Updated Date : 08/20/2020 at 23:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,764 sqft
  • Baths : 2 full
Listing Agent

Nexgen Real Estate

Listing Agent's Description

Desert rock out front welcomes you to this newly painted home. Walk through your new front door into an open floor plan with all new interior paint and trim work. You'll find updated tile and carpet flooring in every room, along with new windows throughout the entire home! Enjoy plenty of light in the modern kitchen with new cabinets, countertops, a breakfast bar, open shelving and plenty of storage! Both bathrooms feature new vanities, countertops, double sinks, faucets, mirrors and tile surrounds. Step through two sets of French doors to enjoy the back patio and backyard. From the WELCOME HOME GROUP!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alta Vista

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $72k271k

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

Neighborhood: Alta Vista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6461567

* 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
Alta Vista Elementary School Primary Regular 647 36 3
Alta Vista Elementary School Middle Regular 647 36 3
Cortez High School High Regular 1,127 55 4

Alta Vista Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 36
3
GreatSchools Rating

Alta Vista Elementary School

  • Education Level: Middle
  • # of students: 647
  • # of teachers: 36
3
GreatSchools Rating

Cortez High School

  • Education Level: High
  • # of students: 1,127
  • # of teachers: 55
4
GreatSchools Rating
 

$215,550$263,450$239,500

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$884
Property Tax -$143
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
$93

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.

$239,500

PROJECTED PRICE

$1,280

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.91%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,218

INVESTMENT

$69,218

Down Payment
$59,875
Rehab Estimate
$5,750
Closing Costs
$3,593

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$884

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,875
Loan Amount $179,625
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$26,972

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,469

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,249
1$1,2492$1,2803$1,4154$1,5755$1,650
$1,650
RENT COMPS ANALYSIS
  • 3018 W Butler Drive Phoenix, 2
    • 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.73
    •  
  • 8608 N 33rd Avenue Phoenix, 1
    • 4 beds 2 baths ∙ 1,556 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,556 Sqft ∙ Built 1960
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.80
    •  
  • 7609 N 34th Avenue Phoenix, 3
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1970
    property image
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,415
    • $0.86
    •  
  • 3602 W Ruth Avenue Phoenix, 4
    • 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1960
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.81
    •  
  • 3109 W Lane Avenue Phoenix, 5
    • 5 beds 2 baths ∙ 1,920 Sqft ∙ Built 1965 5 beds 2 baths ∙ 1,920 Sqft ∙ Built 1965
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
PROPERTY LISTING DETAILS
John R Aguero
Nexgen Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119673
Last Updated: 08/20/2020
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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