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

3102 N 42nd Street Phoenix, AZ 85018

4 Beds 3 Baths 2,200 sqft Built 1959

$725,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $329.55
  • 3 Days on Market
  • MLS # : 6160229
  • Updated Date : 11/13/2020 at 15:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,200 sqft
  • Baths : 3 full
Listing Agent

West Usa Realty

Listing Agent's Description

Welcome to The Arcadia Light House! This beautiful 4 bedroom 3 bath home is located in an iconic Central Phoenix Arcadia neighborhood and is a rare find with two master suites! Enter through the front door and instantly feel at ease with a spacious floor plan, the home is great for family gatherings as the kitchen, living room and dining room areas are open and connected. The kitchen features granite counters and stainless steel appliances and gas cooking! Step outside to the private backyard where you'll find a large heated diving pool, BBQ grill & covered patio. Positioned to offer your buyer a one-of-a-kind experience, The Arcadia Light House is just minutes to Biltmore Fashion Square & Old Town Scottsdale!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Olivette Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500kPrice in $91k502k

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

Neighborhood: Olivette Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9342438

* 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
Tavan Elementary School Primary Regular 718 43 5
Ingleside Middle School Middle Regular 772 33 7
Arcadia High School High Regular 1,731 72 5

Tavan Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 43
5
GreatSchools Rating

Ingleside Middle School

  • Education Level: Middle
  • # of students: 772
  • # of teachers: 33
7
GreatSchools Rating

Arcadia High School

  • Education Level: High
  • # of students: 1,731
  • # of teachers: 72
5
GreatSchools Rating
 

$652,500$797,500$725,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$2,675
Property Tax -$375
Property Insurance -$70
Property Management Fees -$99
CASH FLOW
-$549

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.

$725,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 8.5%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,675

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$10,870

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $2,673

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,5503$2,6704$2,8005$2,995
$2,995
RENT COMPS ANALYSIS
  • 3102 N 42nd Street Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1959 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $1.21
    •  
  • 3409 N 43rd Place Phoenix, AZ 1
    • 4 beds 2 baths ∙ 2,211 Sqft ∙ Built 1955 4 beds 2 baths ∙ 2,211 Sqft ∙ Built 1955
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.97
    •  
  • 4138 E Pinchot Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 2,164 Sqft ∙ Built 1952 3 beds 2 baths ∙ 2,164 Sqft ∙ Built 1952
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.18
    •  
  • 4244 E Mitchell Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,197 Sqft ∙ Built 1958 3 beds 2 baths ∙ 2,197 Sqft ∙ Built 1958
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.27
    •  
  • 3915 E Whitton Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 1954 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 1954
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.44
    •  
PROPERTY LISTING DETAILS
Michael Smith
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160229
Last Updated: 11/13/2020
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