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311 W Fellars Drive W Phoenix, AZ 85023

2 Beds 2 Baths 1,246 sqft Built 1984

$325,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $260.83
  • 3 Days on Market
  • MLS # : 6182898
  • Updated Date : 01/22/2021 at 08:15
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,246 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Great location. A well kept community of beautiful homes called Turtle Creek. This is the Willow model with 2 bedrooms, 2 full baths, 1246 sq.ft, great room concept, very open floor plan, double French door, 2 car garage, covered patio, resort like back yard and very low maintenance landscaping both front and back.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Turtle Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Turtle Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8821981

* 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
Lookout Mountain Elementary School Primary Regular 1,022 50 9
Lookout Mountain Elementary School Middle Regular 1,022 50 9
Thunderbird High School High Regular 1,507 63 6

Lookout Mountain Elementary School

  • Education Level: Primary
  • # of students: 1,022
  • # of teachers: 50
9
GreatSchools Rating

Lookout Mountain Elementary School

  • Education Level: Middle
  • # of students: 1,022
  • # of teachers: 50
9
GreatSchools Rating

Thunderbird High School

  • Education Level: High
  • # of students: 1,507
  • # of teachers: 63
6
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$1,129
Property Tax -$194
Property Insurance -$52
HOA -$20
Property Management Fees -$99
CASH FLOW
-$194

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.

$325,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.9%
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

PROJECTED ANNUAL CASH FLOW

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

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,661

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
  • $1,392

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4003$1,4004$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 311 W Fellars Drive W Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,246 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,246 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 15447 N 1st Place Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,350 Sqft ∙ Built 1985 2 beds 2 baths ∙ 1,350 Sqft ∙ Built 1985
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.04
    •  
  • 229 E Anderson Avenue E Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,256 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,256 Sqft ∙ Built 1983
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.11
    •  
  • 34 E Coral Gables Drive Phoenix, AZ 4
    • 2 beds 3 baths ∙ 1,225 Sqft ∙ Built 1986 2 beds 3 baths ∙ 1,225 Sqft ∙ Built 1986
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.14
    •  
  • 15436 N 1st Place Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,225 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,225 Sqft ∙ Built 1983
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.18
    •  
PROPERTY LISTING DETAILS
Safe Karoubi
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6182898
Last Updated: 01/22/2021
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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