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3029 W Laurel Lane Phoenix, AZ 85029

3 Beds 2 Baths 1,451 sqft Built 1970

$299,500

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $206.41
  • 2 Days on Market
  • MLS # : 6203373
  • Updated Date : 03/06/2021 at 02:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,451 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Recently remodeled home ready to go! Located just minutes from the I-17 for easy commute. This single story property offers open, cozy living spaces with endless possibilities of entertainment, 3 fantastic bedrooms, and 2 modern baths. There's neutral color paint and tile throughout for an easy care and a bright feel! Spotless kitchen features white cabinets, stainless steel appliances, walk-in pantry, and mosaic back-plash. Awesome master suite includes spacious closet for all your belongings and en-suite bath for an added comfort. Outside, in backyard, create a resort style masterpiece, enjoy exercising the thought from the covered patio. Don't forget about the fabulous workshop! You'll want to view this home right away, so call or text today for a private showing!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Westown

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $80k271k

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

Neighborhood: Westown

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8061567

* 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
Cholla Middle School Middle Regular 658 38 4
Moon Valley High School High Regular 1,479 70 5

Cholla Middle School

  • Education Level: Middle
  • # of students: 658
  • # of teachers: 38
4
GreatSchools Rating

Moon Valley High School

  • Education Level: High
  • # of students: 1,479
  • # of teachers: 70
5
GreatSchools Rating
 

$269,550$329,450$299,500

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$1,040
Property Tax -$179
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
-$173

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.

$299,500

PROJECTED PRICE

$1,200

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.3%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,118

INVESTMENT

$85,118

Down Payment
$74,875
Rehab Estimate
$5,750
Closing Costs
$4,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,040

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,875
Loan Amount $224,625
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$6,044

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,299

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2003$1,2004$1,3955$1,550
$1,550
RENT COMPS ANALYSIS
  • 3029 W Laurel Lane Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.83
    •  
  • 11026 N 28th Drive #36 Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1979
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.92
    •  
  • 3108 W Larkspur Drive W Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1960
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.89
    •  
  • 3037 W Charter Oak Road Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1960
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 3301 W Altadena Avenue Phoenix, AZ 5
    • 4 beds 3 baths ∙ 1,713 Sqft ∙ Built 1961 4 beds 3 baths ∙ 1,713 Sqft ∙ Built 1961
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
PROPERTY LISTING DETAILS
Yadira Viridiana Luna Perez
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203373
Last Updated: 03/06/2021
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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