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313 E Oraibi Drive Phoenix, AZ 85024

3 Beds 2 Baths 1,160 sqft Built 1985

$265,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $228.45
  • 3 Days on Market
  • MLS # : 6170170
  • Updated Date : 12/11/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,160 sqft
  • Baths : 2 full
Listing Agent

Re/max Excalibur

Listing Agent's Description

Charming updated 3 bed/2ba home with a hot tub and 2 car garage in North Phoenix. Well maintained neighborhood NO HOA. The vaulted ceilings make this home feel more spacious. Split floorplan. Gorgeous wood looking tile throughout. Bright kitchen with updated granite counters, tile backsplash and white cabinets. Dual pane windows. Ceiling fans in every room. Easy care landscaping front and back all on auto water. Covered Patio. Includes stainless BBQ grill. Enjoy the cool nights soaking in your own private hot tub while gazing at the stars. Clean and Move In Ready. Cut your drive time to work. This house is 2 minutes from the freeway.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Blue Hills

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $71k271k

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

Neighborhood: Blue Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6651567

* 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
Eagle Ridge Elementary School Primary Regular 581 41 5
Mountain Trail Middle School Middle Regular 714 29 7
North Canyon High School High Regular 1,957 86 4

Eagle Ridge Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 41
5
GreatSchools Rating

Mountain Trail Middle School

  • Education Level: Middle
  • # of students: 714
  • # of teachers: 29
7
GreatSchools Rating

North Canyon High School

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

$238,500$291,500$265,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$978
Property Tax -$167
Property Insurance -$50
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 14% of earned rent to cover both maintenance and periods of vacancy.

$265,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.3%
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

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$19,481

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,302

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2903$1,2954$1,3505$1,399
$1,399
RENT COMPS ANALYSIS
  • 313 E Oraibi Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $1.11
    •  
  • 1001 E Wahalla Lane Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,136 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,136 Sqft ∙ Built 1984
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.10
    •  
  • 8 W Oraibi Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 1985
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.10
    •  
  • 514 E Marco Polo Road Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1986
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.16
    •  
  • 342 W Morrow Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1983
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $1.13
    •  
PROPERTY LISTING DETAILS
Robyn Viktor
Re/max Excalibur
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170170
Last Updated: 12/11/2020
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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