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3036 N 28th Street Phoenix, AZ 85016

3 Beds 2 Baths 1,597 sqft Built 1947

$400,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $250.47
  • 5 Days on Market
  • MLS # : 6172502
  • Updated Date : 12/23/2020 at 16:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,597 sqft
  • Baths : 2 full
Listing Agent

Desert North Realty

Listing Agent's Description

Looking for a modern home in the highly sought after Phoenix Homestead Neighborhood? Well, look no further. Completely remodeled in 2017 this contemporary home has a TON of potential sweat equity and NO HOA. As soon as you walk in the door you will notice the beautiful floor and tile work throughout the home. The kitchen boasts gorgeous granite countertops as well as stainless steel appliances. The large open backyard makes it the perfect place to entertain or a great blank canvas for you to turn into your own private backyard oasis. On top of everything else, there is a 2 car garage which is not common in this area. Call today to book your showing!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Phoenix Homesteads

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $91k303k

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

Neighborhood: Phoenix Homesteads

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
Larry C. Kennedy School Primary Regular 672 35 2
Larry C. Kennedy School Middle Regular 672 35 2
Camelback High School High Regular 2,048 110 4

Larry C. Kennedy School

  • Education Level: Primary
  • # of students: 672
  • # of teachers: 35
2
GreatSchools Rating

Larry C. Kennedy School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 35
2
GreatSchools Rating

Camelback High School

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

$360,000$440,000$400,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,476
Property Tax -$301
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
$206

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$400,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$52,081

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $1.34

    LIST RENT PER SQFT
  • $2,156

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,0003$2,1404$2,2005$2,650
$2,650
RENT COMPS ANALYSIS
  • 3036 N 28th Street Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1947
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $1.34
    •  
  • 2502 E Avalon Drive Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,552 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,552 Sqft ∙ Built 1950
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.16
    •  
  • 2647 E Whitton Avenue Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1952 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1952
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.32
    •  
  • 3232 N 27th Place Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1948
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.32
    •  
  • 3116 N 27th Street Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1948
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.60
    •  
PROPERTY LISTING DETAILS
Jacob Chapman
Desert North Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172502
Last Updated: 12/23/2020
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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