Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3047 E Redwood Lane Phoenix, AZ 85048

4 Beds 3 Baths 2,100 sqft Built 1989

$380,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $180.95
  • 2 Days on Market
  • MLS # : 6168175
  • Updated Date : 12/05/2020 at 10:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,100 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

Great opportunity to own a gorgeous two-story property in Phoenix! Featuring 2 car garage w/epoxy floor and a carefully maintained front yard, this 4 bed, 2.5 bath home is the one for you! Inside, you're greeted by a spacious living room with high ceilings and a bright dining. Large & cozy family room includes a wood-burning fireplace & sliding doors to back patio. The fabulous kitchen is equipped with ample cabinets, stainless steel appliances, granite countertops, tile backsplash, a breakfast bar, and a breakfast room. The master suite has vaulted ceilings, and a full ensuite with round glass vessel vanity, soaking tub, and walk-in closet. The large backyard is a true gem with covered patio and grassy area, enjoy fun gatherings & evenings with your loved ones. Make an offer today

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lakeside

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Lakeside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Kyrene De La Estrella Elementary School Primary Regular 440 27 8
Kyrene Akimel A-al Middle School Middle Regular 1,064 52 8
Desert Vista High School High Regular 3,037 130 8

Kyrene De La Estrella Elementary School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 27
8
GreatSchools Rating

Kyrene Akimel A-al Middle School

  • Education Level: Middle
  • # of students: 1,064
  • # of teachers: 52
8
GreatSchools Rating

Desert Vista High School

  • Education Level: High
  • # of students: 3,037
  • # of teachers: 130
8
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,402
Property Tax -$271
Property Insurance -$68
HOA -$5
Property Management Fees -$99
CASH FLOW
$55

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.

$380,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$31,398

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,058

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$1,9954$2,1505$2,250
$2,250
RENT COMPS ANALYSIS
  • 3047 E Redwood Lane Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.90
    •  
  • 16010 S 32nd Place Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1987
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
  • 3233 E Brookwood Court Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,963 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,963 Sqft ∙ Built 1995
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.02
    •  
  • 16635 S 33rd Street Phoenix, AZ 4
    • 3 beds 3 baths ∙ 2,205 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,205 Sqft ∙ Built 1986
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.98
    •  
  • 2917 E Windsong Drive Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,164 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,164 Sqft ∙ Built 1995
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.04
    •  
PROPERTY LISTING DETAILS
Ronald E. Hendrix
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6168175
Last Updated: 12/05/2020
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.

BESbswy