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3223 E Redwood Lane Phoenix, AZ 85048

4 Beds 3 Baths 3,135 sqft Built 1987

$575,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $183.41
  • 6 Days on Market
  • MLS # : 6170530
  • Updated Date : 12/17/2020 at 10:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,135 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Maricopa Real Estate Co

Listing Agent's Description

Incredible POOL home located in LAKEWOOD! So many CUSTOM features. ELEGANT front entrance with custom GLASS and IRON door, kitchen island, incredible top of the line stainless steel gas stove with double oven & dishwasher, tile floors with the combination of large tile and wood through out the house. Custom wood shutters on most windows, with Fireplace in the master bedroom & family room. Wood flooring in the loft area. Incredible laundry room with all the bells and whistles. Pebble tech pool with separate play area and Built in barbecue, including a Argentina Wood Cooking Stove. Wonderful curb appeal with pavers on your front porch and walkways. Come take a look today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lakewood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k371k

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

Neighborhood: Lakewood

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
Kyrene De La Estrella Elementary School Primary Regular 440 27 8
Kyrene Akimel A-al Middle School Middle Regular 1,064 52 8
Desert Vista High School High Regular 3,037 130 8

Kyrene De La Estrella Elementary School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 27
8
GreatSchools Rating

Kyrene Akimel A-al Middle School

  • Education Level: Middle
  • # of students: 1,064
  • # of teachers: 52
8
GreatSchools Rating

Desert Vista High School

  • Education Level: High
  • # of students: 3,037
  • # of teachers: 130
8
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$2,122
Property Tax -$409
Property Insurance -$88
HOA -$7
Property Management Fees -$99
CASH FLOW
$275

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.

$575,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.6%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$68,825

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,362

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,7503$2,9504$3,5005$3,995
$3,995
RENT COMPS ANALYSIS
  • 3223 E Redwood Lane Phoenix, AZ 1
    • 4 beds 3 baths ∙ 3,135 Sqft ∙ Built 1987 4 beds 3 baths ∙ 3,135 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2758 E Windmere Drive Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,997 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,997 Sqft ∙ Built 1991
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.92
    •  
  • 3359 E Tanglewood Drive Phoenix, AZ 3
    • 5 beds 3 baths ∙ 2,820 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,820 Sqft ∙ Built 1988
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.05
    •  
  • 15856 S 38th Street Phoenix, AZ 4
    • 4 beds 3 baths ∙ 3,307 Sqft ∙ Built 1992 4 beds 3 baths ∙ 3,307 Sqft ∙ Built 1992
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.06
    •  
  • 15824 S 31st Street Phoenix, AZ 5
    • 5 beds 4 baths ∙ 3,182 Sqft ∙ Built 1995 5 beds 4 baths ∙ 3,182 Sqft ∙ Built 1995
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.26
    •  
PROPERTY LISTING DETAILS
James Leonard
The Maricopa Real Estate Co
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170530
Last Updated: 12/17/2020
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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