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PROPERTY INFO
FACTS
- Single Family
- Built In 1965
- Price/Sqft : $228.76
- 11 Days on Market
- MLS # : 6186506
- Updated Date : 02/06/2021 at 21:36
CONSTRUCTION
- Beds : 3
- Floor Size : 1,530 sqft
- Baths : 2 full
Listing Agent
Berkshire Hathaway Homeservices Arizona Properties
Listing Agent's Description
Seldom does a home come on the market that offers: HUGE LOT. HUGE WOKSHOP. Plenty of room for all your toys, hobbies and entertaining. This three bedroom, two bath features an oversizede two gar garage, and behind the garage is a work shop 22' x 15' Home also features: recent dual pane windows throughout, roof, air conditioner, also recent kitchen. Home has TWO RV GATES. There is even room to park your helicopter in the back yard by the work shop. and you may need approval from the city of Phoenix for that type of accomplishment . Feels like you are living in the country, yet you are still in the city.
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PRICE & RENT TRENDS
Neighborhood: Siesta Terrace
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Siesta Terrace
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,420 |
| EXPENSES | Loan Payment | -$1,216 |
| Property Tax | -$187 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$138
|
||
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.
$350,000
PROJECTED PRICE
$1,420
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.32% |
| Appreciation Year (1-5) | 9.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.56% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$98,500
LOAN DETAILS
$1,216
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $87,500 |
| Loan Amount | $262,500 |
3.58
YEARS SAVED
$10,865
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,420
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$1,553
COMP ESTIMATED VALUE -
$1.02
COMP AVG. RENT PER SQFT
Comps Range
-
3166 N 24th Drive Phoenix, AZ 1
- 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1965
- Rent
- Rent Per SQFT
- $1,420
- $0.93
-
3418 N 23rd Avenue Phoenix, AZ 2
- 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1953
LEASED 10/01/19- Rent
- Rent Per SQFT
- $1,475
- $1.00
-
2340 W Osborn Road Phoenix, AZ 3
- 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1953
LEASED 11/01/19- Rent
- Rent Per SQFT
- $1,475
- $1.02
-
2322 W Cheery Lynn Road Phoenix, AZ 4
- 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1954
LEASED 12/01/20- Rent
- Rent Per SQFT
- $1,725
- $1.04
-
1937 W Weldon Avenue Phoenix, AZ 5
- 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1950
LEASED 08/15/20- Rent
- Rent Per SQFT
- $1,800
- $1.00
PROPERTY LISTING DETAILS
Berkshire Hathaway Homeservices Arizona Properties
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6186506
Last Updated: 02/06/2021
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.
