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31518 N 24th Drive Phoenix, AZ 85085

4 Beds 3 Baths 2,155 sqft Built 2019

$441,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $204.64
  • 4 Days on Market
  • MLS # : 6178000
  • Updated Date : 01/08/2021 at 17:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,155 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

Built in 2019, this Phoenix two-story cul-de-sac home offers a patio, quartz countertops, stainless steel appliances, and a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sonoran Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500kPrice in $91k546k

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

Neighborhood: Sonoran Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9342561

* 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
Sonoran Foothills School Primary Regular NA
Sonoran Foothills School Middle Regular NA
Barry Goldwater High School High Regular 1,856 88 4

Sonoran Foothills School

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

Sonoran Foothills School

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

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$396,900$485,100$441,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,532
Property Tax -$264
Property Insurance -$69
HOA -$110
Property Management Fees -$99
CASH FLOW
-$34

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.

$441,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.4%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,615

INVESTMENT

$122,615

Down Payment
$110,250
Rehab Estimate
$5,750
Closing Costs
$6,615

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,532

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,250
Loan Amount $330,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$21,078

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,993

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,9504$2,0405$2,050
$2,050
RENT COMPS ANALYSIS
  • 31518 N 24th Drive Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,155 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,155 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.95
    •  
  • 31916 N 23rd Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 2004
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 2375 W Sleepy Ranch Road Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 2005
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 2406 W Jake Haven Phoenix, AZ 3
    • 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 2004
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.93
    •  
  • 32112 N 23rd Avenue Phoenix, AZ 5
    • 4 beds 2 baths ∙ 2,162 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,162 Sqft ∙ Built 2004
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.95
    •  
PROPERTY LISTING DETAILS
Lisa Soltesz
Opendoor Brokerage, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178000
Last Updated: 01/08/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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