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3202 E Dry Creek Road Phoenix, AZ 85044

3 Beds 2 Baths 2,049 sqft Built 1987

INVESTimate

$429,900

List Price

$1,870

$1,683 - $2,057

Rent Est.

$451,954  ( +5.13%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $209.81
  • 5 Days on Market
  • MLS # : 6121215
  • Updated Date : 08/23/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,049 sqft
  • Baths : 2 full
Listing Agent

Wise Choice Properties

Listing Agent's Description

Large 3-bedroom with den, single level Ahwatukee home comes with a pool and spa and sits on a 9,300+ sq ft, corner lot and is located in the desirable Mountain Park Ranch. The kitchen has granite counter tops and stainless-steel appliances. The home has separate living, family and dining rooms and has vaulted ceilings and 7 ceiling fans throughout. The large master bedroom has a separate entrance to the backyard and also a nice bathroom with a separate tub and shower. Great location! Close to shopping, restaurants, hiking and the I-10 & 202 freeways! Mountain Park Ranch offers 3 community pools, tennis courts, clubhouse and walking/bike paths, with hiking at South Mountain Park nearby. WATCH VIDEO TOUR

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
 

$386,910$472,890$429,900

PURCHASE PRICE

$1,683$2,057$1,870

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,586
Property Tax -$306
Property Insurance -$67
HOA -$25
Property Management Fees -$99
CASH FLOW
-$213

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.

$429,900

PROJECTED PRICE

$1,870

PROJECTED RENT

0.43%

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$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,586

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$12,128

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,911

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8703$1,8754$1,9005$1,995
$1,995
RENT COMPS ANALYSIS
  • 3202 E Dry Creek Road Phoenix, 2
    • 3 beds 2 baths ∙ 2,049 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,049 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.91
    •  
  • 3324 E Long Lake Road Phoenix, 1
    • 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 1996
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 3537 E Verbena Drive Phoenix, 3
    • 3 beds 3 baths ∙ 1,898 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,898 Sqft ∙ Built 1987
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.99
    •  
  • 2750 E Cathedral Rock Drive Phoenix, 4
    • 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 1988
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.85
    •  
  • 3517 E Dry Creek Road Phoenix, 5
    • 4 beds 2 baths ∙ 2,006 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,006 Sqft ∙ Built 1989
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.99
    •  
PROPERTY LISTING DETAILS
Michael Buttery
Wise Choice Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121215
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.

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