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

3145 E Dry Creek Road Phoenix, AZ 85048

4 Beds 3 Baths 2,800 sqft Built 1986

INVESTimate

$585,000

List Price

$2,360

$2,124 - $2,596

Rent Est.

$615,011  ( +5.13%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $208.93
  • 6 Days on Market
  • MLS # : 6120995
  • Updated Date : 08/23/2020 at 15:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,800 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

BEAUTIFUL HOME ON SPACIOUS HILLSIDE PRESERVE LOT. RARE OPPORTUNITY IN SOUGHT AFTER HIGHLANDS AT MOUNTAIN PARK RANCH. NEW INTERIOR PAINT AND BRONZE HARDWARE IN 2020. GOURMET KITCHEN FEATURES LARGE ISLAND, STAINLESS STEEL APPLIANCES, RAISED-PANEL CABINETRY AND EAT-IN AREA. OPEN FLOOR PLAN WITH 20'' TRAVERTINE FLOORING, FIREPLACE AND TWO SETS OF ARCADIA DOORS TO PATIO FROM FAMILY ROOM. FORMAL LIVING AND DINING ROOM. MASTER SUITE AND TWO BEDROOMS ON THE MAIN FLOOR. ADDITIONAL ENSUITE BEDROOM, LARGE LOFT AND BALCONY UPSTAIRS. ABUNDANT STORAGE CABINETRY IN GARAGE, 2019 ROOF REPLACEMENT, 2017 POOL TILE AND 2016 SPA HEATER. BACK YARD AMENITIES INCLUDE EXPANDED FLAGSTONE PATIO, PEBBLE TEC POOL WITH SPA PLUS PICTURE PERFECT MOUNTAIN VIEWS. LOCATED CLOSE TO PARKS, TENNIS COURTS, POOLS AND TRAILS.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Highlands at Mountain Park Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k439k

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

Neighborhood: Highlands at Mountain Park Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9342051

* 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
Kyrene Monte Vista School Primary Regular 557 30 10
Kyrene Altadena Middle School Middle Regular 1,065 52 9
Desert Vista High School High Regular 3,037 130 8

Kyrene Monte Vista School

  • Education Level: Primary
  • # of students: 557
  • # of teachers: 30
10
GreatSchools Rating

Kyrene Altadena Middle School

  • Education Level: Middle
  • # of students: 1,065
  • # of teachers: 52
9
GreatSchools Rating

Desert Vista High School

  • Education Level: High
  • # of students: 3,037
  • # of teachers: 130
8
GreatSchools Rating
 

$526,500$643,500$585,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

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-$10k-$5.0k$0.0$5.0k$10k$15k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,158
Property Tax -$416
Property Insurance -$82
HOA -$25
Property Management Fees -$99
CASH FLOW
-$421

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.

$585,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.13%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$8,748

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,548

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,360
1$2,3602$2,3753$2,4004$2,5005$2,750
$2,750
RENT COMPS ANALYSIS
  • 3145 E Dry Creek Road Phoenix, 1
    • 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.84
    •  
  • 3232 E Muirwood Drive Phoenix, 2
    • 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 1995
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.95
    •  
  • 2724 E Mountain Sky Avenue Phoenix, 3
    • 4 beds 3 baths ∙ 2,799 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,799 Sqft ∙ Built 1990
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
  • 3532 E Brookwood Court Phoenix, 4
    • 5 beds 3 baths ∙ 2,760 Sqft ∙ Built 1991 5 beds 3 baths ∙ 2,760 Sqft ∙ Built 1991
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.91
    •  
  • 2758 E Windmere Drive Phoenix, 5
    • 4 beds 3 baths ∙ 2,997 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,997 Sqft ∙ Built 1991
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.92
    •  
PROPERTY LISTING DETAILS
Mike Mendoza
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120995
Last Updated: 08/23/2020
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