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3118 W Caribbean Lane Phoenix, AZ 85053

4 Beds 2 Baths 1,368 sqft Built 1970

$260,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $190.06
  • 5 Days on Market
  • MLS # : 6165900
  • Updated Date : 12/03/2020 at 15:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,368 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Wonderful 4 bed/2 bath block construction home on a large lot under $300k! Eat-in kitchen with stainless steel appliances, granite counters and breakfast bar. New Mohawk carpet in the bedrooms and new vanities in the bathrooms. Newer roof and AC, all windows have been replaced with dual pane vinyl windows. Large backyard with a huge patio. RV gate and storage shed for your toys. Plenty of space in front and backyard to store multiple trailers, boats, RVs, trucks, etc. Walking distance to schools and parks. No HOA. Priced to sell. Owner wants sold before end of year.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Country Gables

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $79k271k

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

Neighborhood: Country Gables

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Acacia Elementary School Primary Regular 772 41 7
Acacia Elementary School Middle Regular 772 41 7
Greenway High School High Regular 1,474 68 7

Acacia Elementary School

  • Education Level: Primary
  • # of students: 772
  • # of teachers: 41
7
GreatSchools Rating

Acacia Elementary School

  • Education Level: Middle
  • # of students: 772
  • # of teachers: 41
7
GreatSchools Rating

Greenway High School

  • Education Level: High
  • # of students: 1,474
  • # of teachers: 68
7
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$959
Property Tax -$155
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
$3

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.

$260,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$19,182

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,270
$1,270
RENT COMPS ANALYSIS
  • 3118 W Caribbean Lane Phoenix, AZ
    • 4 beds 2 baths ∙ 1,368 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,368 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.93
    •  
PROPERTY LISTING DETAILS
Bradley Spies
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165900
Last Updated: 12/03/2020
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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