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3036 W Desert Cove Avenue Phoenix, AZ 85029

3 Beds 2 Baths 1,725 sqft Built 1972

$285,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $165.22
  • 2 Days on Market
  • MLS # : 6212742
  • Updated Date : 03/27/2021 at 22:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,725 sqft
  • Baths : 2 full
Listing Agent

Re/max Solutions

Listing Agent's Description

3 bedroom 2 bathroom on a large lot with a 2 car garage in great area location. Quite neighborhood approx 1 mile from the I17 and from a shopping/entertainment corridor with restaurants, movie theatre, shopping and more! North/South exposure. Tile throughout the entire home! New exterior paint. Some rooms inside were just painted as well. New master vanity. Great home for a great price! Home is in need of some repairs and updating. Home is to be purchased as-is and is already priced accordingly.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $88k271k

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

Neighborhood: North Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8821567

* 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
 

$256,500$313,500$285,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$990
Property Tax -$170
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
-$40

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.

$285,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$14,185

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
  • $0.74

    LIST RENT PER SQFT
  • $1,427

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,199
1$1,1992$1,2803$1,4504$1,5455$1,550
$1,550
RENT COMPS ANALYSIS
  • 3036 W Desert Cove Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.74
    •  
  • 11629 N 31 Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1967
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $0.78
    •  
  • 2529 W Wethersfield Road Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1963
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 10410 N 37th Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 1971
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.80
    •  
  • 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
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
PROPERTY LISTING DETAILS
Justin Cook
Re/max Solutions
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6212742
Last Updated: 03/27/2021
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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