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3234 W Corrine Drive Phoenix, AZ 85029

3 Beds 2 Baths 1,840 sqft Built 1960

$299,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $162.50
  • 4 Days on Market
  • MLS # : 6174396
  • Updated Date : 12/24/2020 at 10:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,840 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Original owner family! Located next to HUGE city park with ballfield and playground and also next to elementary school making this an ideal family location! Centrally located near dining, shopping, and freeway access. Home has two RV gates with easy RV parking. Beautiful red brick fireplace in a large bonus/game room. Large enclosed workshop. Large covered patio.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Westown

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $80k271k

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

Neighborhood: Westown

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8061567

* 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
Sahuaro Elementary School Primary Regular 599 29 5
Sahuaro Elementary School Middle Regular 599 29 5
Moon Valley High School High Regular 1,479 70 5

Sahuaro Elementary School

  • Education Level: Primary
  • # of students: 599
  • # of teachers: 29
5
GreatSchools Rating

Sahuaro Elementary School

  • Education Level: Middle
  • # of students: 599
  • # of teachers: 29
5
GreatSchools Rating

Moon Valley High School

  • Education Level: High
  • # of students: 1,479
  • # of teachers: 70
5
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,103
Property Tax -$178
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
$26

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.

$299,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$24,412

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,624

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,4704$1,5505$1,925
$1,925
RENT COMPS ANALYSIS
  • 3234 W Corrine Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.80
    •  
  • 12425 N 30th Avenue Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 1960
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 2529 W Wethersfield Road Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1963
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 3301 W Altadena Avenue Phoenix, AZ 4
    • 4 beds 3 baths ∙ 1,713 Sqft ∙ Built 1961 4 beds 3 baths ∙ 1,713 Sqft ∙ Built 1961
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
  • 12028 N 30th Drive Phoenix, AZ 5
    • 4 beds 2 baths ∙ 2,022 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,022 Sqft ∙ Built 1969
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.95
    •  
PROPERTY LISTING DETAILS
David Kinnaman
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174396
Last Updated: 12/24/2020
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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