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3048 E Redfield Road Phoenix, AZ 85032

3 Beds 3 Baths 2,337 sqft Built 1995

$489,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $209.24
  • 2 Days on Market
  • MLS # : 6194027
  • Updated Date : 02/13/2021 at 14:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,337 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ironwood Fine Properties

Listing Agent's Description

Pride of ownership. Corner homesite located between Phoenix Mountain Preserve and Venturoso Park with easy access to the 51. Hardwood floors and vaulted ceilings upon entry. Stainless steel appliances, kitchen island and plenty of cabinet space. Fireplaces in living room and master bedroom. Custom tiled master bath and shower with walk in closet. Master bedroom also boasts walk out patio. Pool and extended deck space make for an entertainers back yard.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dreamstreet

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k400k

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

Neighborhood: Dreamstreet

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342180

* 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
Shea Middle School Middle Regular 641 37 6
Shadow Mountain High School High Regular 1,390 67 3

Shea Middle School

  • Education Level: Middle
  • # of students: 641
  • # of teachers: 37
6
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$440,100$537,900$489,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,698
Property Tax -$308
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
$52

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.

$489,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.6%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,335

INVESTMENT

$135,335

Down Payment
$122,250
Rehab Estimate
$5,750
Closing Costs
$7,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,698

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,250
Loan Amount $366,750
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$32,279

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
  • $2,249

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8253$2,0954$2,1655$2,250
$2,250
RENT COMPS ANALYSIS
  • 3048 E Redfield Road Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,337 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,337 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 15015 N 20th Place Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 1978
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.90
    •  
  • 2916 E Ludlow Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 2,253 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,253 Sqft ∙ Built 1991
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.93
    •  
  • 14838 N 38th Street Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 1977
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,165
    • $1.02
    •  
  • 2928 E Ludlow Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,253 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,253 Sqft ∙ Built 1992
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jeffrey A Seman
Ironwood Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6194027
Last Updated: 02/13/2021
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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