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315 W Edgemont Avenue Phoenix, AZ 85003

3 Beds 2 Baths 1,868 sqft Built 1945

$695,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1945
  • Price/Sqft : $372.06
  • 2 Days on Market
  • MLS # : 6193021
  • Updated Date : 02/13/2021 at 15:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,868 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Looking for an amazing downtown Phoenix neighborhood? Look no further -- it's Willo! Charm and historic character is what defines the neighborhood and this special home is no exception. Three large bedrooms, stained concrete throughout, remodeled bathrooms and kitchen, arched doorways and a 9-foot island in the kitchen with stainless steel appliances. The backyard features multiple citrus trees, a large covered porch and an above ground spa.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lou Mar Vista

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k444k

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

Neighborhood: Lou Mar Vista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Encanto School Primary Alternative 664 32 3
Osborn Middle School Middle Alternative 565 30 5
Central High School High Regular 2,251 136 3

Encanto School

  • Education Level: Primary
  • # of students: 664
  • # of teachers: 32
3
GreatSchools Rating

Osborn Middle School

  • Education Level: Middle
  • # of students: 565
  • # of teachers: 30
5
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
GreatSchools Rating
 

$625,500$764,500$695,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$2,414
Property Tax -$366
Property Insurance -$64
Property Management Fees -$99
CASH FLOW
-$813

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.

$695,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.31%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$189,925

INVESTMENT

$189,925

Down Payment
$173,750
Rehab Estimate
$5,750
Closing Costs
$10,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,414

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $173,750
Loan Amount $521,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$749

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,386

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,1304$2,4955$2,495
$2,495
RENT COMPS ANALYSIS
  • 315 W Edgemont Avenue W Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1945
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.14
    •  
  • 3333 N 13th Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 1955
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.19
    •  
  • 1609 W Vernon Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1940
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.26
    •  
  • 2028 N 11th Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 1936 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 1936
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.25
    •  
  • 505 W Virginia Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 1945
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.41
    •  
PROPERTY LISTING DETAILS
Anne Thorne
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193021
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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