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3029 E Diamond Street Phoenix, AZ 85008

4 Beds 2 Baths 1,560 sqft Built 1950

$245,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $157.05
  • 2 Days on Market
  • MLS # : 6187786
  • Updated Date : 01/30/2021 at 14:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,560 sqft
  • Baths : 1 full , 1 half
Listing Agent

Launch Real Estate

Listing Agent's Description

Great home to fix up and call your own. Many of the costly improvements have been done in the past 5 year including HVAC, roof, water heater, exterior paint, sewer line from inside of home to new cleanouts in back yard. Cabinets in kitchen fairly new, need a few adjustments.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mcdowell Homes

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $76k271k

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

Neighborhood: Mcdowell Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7821567

* 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
Camelback High School High Regular 2,048 110 4
Phoenix Coding Academy High Regular NA
Phoenix Coding Academy High Unknown NA

Camelback High School

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

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$851
Property Tax -$155
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
$287

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.

$245,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

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$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$43,065

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
  • $1,654

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3453$1,3954$1,5005$1,790
$1,790
RENT COMPS ANALYSIS
  • 3029 E Diamond Street Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1950
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2702 E Brill Street Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1938
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.99
    •  
  • 2448 N 38th Street Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,237 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,237 Sqft ∙ Built 1955
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.13
    •  
  • 1802 N 20th Street Phoenix, AZ 4
    • 3 beds 1 baths ∙ 1,440 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,440 Sqft ∙ Built 1947
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
  • 2027 N 28th Place Phoenix, AZ 5
    • 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 1950 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 1950
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.08
    •  
PROPERTY LISTING DETAILS
Eric Brown
Launch Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187786
Last Updated: 01/30/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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