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308 E Helena Drive Phoenix, AZ 85022

3 Beds 2 Baths 1,808 sqft Built 1980

$395,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $218.47
  • 2 Days on Market
  • MLS # : 6160550
  • Updated Date : 11/14/2020 at 23:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,808 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

FINAL TOUCHES TAKING PLACE. No show til Sunday 11/15. A FANTASTIC updated MOVE-IN READY home in one of the most undervalued neighborhoods in North Phoenix. Here's your chance to get a great 3 bedroom, 2 bath home on a large lot in an area where few homes come up for sale! New interior/exterior paint, stunning new tile floors (new carpet in bedrms). HUGE Greatroom floorplan w 2 dining areas (one can be HOME OFFICE). Updated kitchen w new stainless steel appliances. 2 spacious secondary bedrooms plus lrg hall bathroom, freshly remodeled. Master suite w double door entry, LRG walk-in closet, gorgeous newly tiled master shower. Backyard big enough for your pool & features lrg covd patio. BIG laundry rm. 2-c garage. AC new 2015. Near shopping, dining & EZ access to freeways & downtown Phx!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Bell Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $91k328k

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

Neighborhood: Desert Bell Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9341718

* 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
Cactus View Elementary School Primary Regular 712 41 4
Cactus View Elementary School Middle Regular 712 41 4
North Canyon High School High Regular 1,957 86 4

Cactus View Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 41
4
GreatSchools Rating

Cactus View Elementary School

  • Education Level: Middle
  • # of students: 712
  • # of teachers: 41
4
GreatSchools Rating

North Canyon High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 86
4
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,457
Property Tax -$249
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$278

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.

$395,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.4%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,960

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,681

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5253$1,5904$1,6755$1,795
$1,795
RENT COMPS ANALYSIS
  • 308 E Helena Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.88
    •  
  • 526 W Kelton Lane Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1994
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 415 W Aire Libre Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1995
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.94
    •  
  • 1253 E Helena Drive Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 1994
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.90
    •  
  • 1314 E Angela Drive Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,887 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,887 Sqft ∙ Built 1994
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.95
    •  
PROPERTY LISTING DETAILS
Shannon Collins
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160550
Last Updated: 11/14/2020
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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