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317 W Loma Lane Phoenix, AZ 85021

4 Beds 3 Baths 2,548 sqft Built 1958

$800,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $313.97
  • 3 Days on Market
  • MLS # : 6193240
  • Updated Date : 02/12/2021 at 23:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,548 sqft
  • Baths : 3 full
Listing Agent

West Usa Realty

Listing Agent's Description

HURRY! CUL-DE-SAC, GUEST HOUSE, PLANTATION SHUTTERS, LARGE LOT WITH POOL! Beautiful curb appeal with a fantastic shade tree! Inside is a spacious open floor plan that is perfect for entertaining! A stunning kitchen with custom white shaker cabinets, gorgeous granite counters, breakfast bar seating, SS appliances, and a deep farm sink. The family room has custom built-in entertainment center. Travertine flooring. Living room has a cozy brick fireplace. Bedrooms have new plush carpeting. The owner's suite has a beautiful custom walk-in travertine shower and walk-in closet. The resort-like backyard has a large lawn area, sparkling pool, guest house with a living room, kitchenette, 3/4 bath, and a bedroom. Easy access to the 51 or the I17. Don't miss out on this home. It will go fast!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Windsor Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500k550kPrice in $91k567k

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

Neighborhood: Windsor Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9342480

* 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
Richard E. Miller Elementary School Primary Regular 569 26 4
Sunnyslope High School High Regular 2,064 88 6

Richard E. Miller Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 26
4
GreatSchools Rating

Sunnyslope High School

  • Education Level: High
  • # of students: 2,064
  • # of teachers: 88
6
GreatSchools Rating
 

$720,000$880,000$800,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$2,779
Property Tax -$477
Property Insurance -$77
Property Management Fees -$99
CASH FLOW
-$1,032

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.

$800,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.1%
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$2.5M

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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,750

INVESTMENT

$217,750

Down Payment
$200,000
Rehab Estimate
$5,750
Closing Costs
$12,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,779

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $200,000
Loan Amount $600,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$244

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,382

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1953$2,2004$2,4005$3,000
$3,000
RENT COMPS ANALYSIS
  • 317 W Loma Lane Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1958 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.94
    •  
  • 8735 N Drey Lane Phoenix, AZ 1
    • 3 beds 2 baths ∙ 2,232 Sqft ∙ Built 1966 3 beds 2 baths ∙ 2,232 Sqft ∙ Built 1966
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 41 E Myrtle Avenue Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,638 Sqft ∙ Built 1940 4 beds 3 baths ∙ 2,638 Sqft ∙ Built 1940
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.83
    •  
  • 524 W Harmont Drive Phoenix, AZ 3
    • 4 beds 2 baths ∙ 2,548 Sqft ∙ Built 1954 4 beds 2 baths ∙ 2,548 Sqft ∙ Built 1954
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
  • 7802 N 5th Avenue Phoenix, AZ 5
    • 5 beds 3 baths ∙ 2,609 Sqft ∙ Built 1974 5 beds 3 baths ∙ 2,609 Sqft ∙ Built 1974
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.15
    •  
PROPERTY LISTING DETAILS
Tracy Hart
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193240
Last Updated: 02/12/2021
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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