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3112 E Mulberry Drive Phoenix, AZ 85016

4 Beds 3 Baths 1,516 sqft Built 1945

$450,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1945
  • Price/Sqft : $296.83
  • 3 Days on Market
  • MLS # : 6192780
  • Updated Date : 02/13/2021 at 01:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,516 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mojica & Associates Real Estate

Listing Agent's Description

This meticulous home is in the perfect location...close to restaurants, shops, and highways! New windows and roof as of 2016. NEW AC JULY 2020! This cute as a button home features a guest casita for an office work space, In-Law area, or studio space! The backyard is an oasis to retreat from a long day. There are Upgraded Granite countertops and cabinets in the kitchen and upgraded vanities with tiled showers. Come see this ASAP! This one won't last long...

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Camelback East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $91k307k

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

Neighborhood: Camelback East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
Camelback High School High Regular 2,048 110 4
Phoenix Coding Academy High Regular NA
Phoenix Coding Academy High Unknown NA

Camelback High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 110
4
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,563
Property Tax -$285
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$264

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.

$450,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.7%
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$1.4M$1.6M

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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,987

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,929

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,7403$2,0004$2,2005$2,215
$2,215
RENT COMPS ANALYSIS
  • 3112 E Mulberry Drive Phoenix, AZ 2
    • 4 beds 3 baths ∙ 1,516 Sqft ∙ Built 1945 4 beds 3 baths ∙ 1,516 Sqft ∙ Built 1945
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $1.15
    •  
  • 3225 E Earll Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 1947
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.10
    •  
  • 2647 E Whitton Avenue Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1952 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1952
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.32
    •  
  • 4002 N 32nd Place Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1949
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.30
    •  
  • 3115 E Osborn Road Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1951
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,215
    • $1.37
    •  
PROPERTY LISTING DETAILS
Heather Martin
Mojica & Associates Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192780
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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