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324 W Seldon Lane Phoenix, AZ 85021

4 Beds 2 Baths 2,366 sqft Built 1958

$699,900

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $295.82
  • 5 Days on Market
  • MLS # : 6207822
  • Updated Date : 03/20/2021 at 15:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,366 sqft
  • Baths : 2 full
Listing Agent

United Real Estate Specialists

Listing Agent's Description

Fall in love with this beautifully updated home in the Sunnyslope High School District, within walking distance to the school and Murphy's Bridle Path. Upgrades throughout in 2020 including kitchen, bathrooms, lighting, paint, trim, too many to list! 4 bed/2 bath PLUS an office/den. One bedroom features a reading/study nook. Open floorplan kitchen with granite counters and plenty of storage is made for entertaining! Outdoor living on easy maintenance large, flood irrigated lot. Outdoor buffet with sink for parties! Large laundry room and owners entry/mudroom add additional storage. New tankless water heater in 2020 and roof, AC, electrical and windows in last 5 - 8 years. Live the life you've dreamed of 'between the 7's' in this North Central Charmer!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sands Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k445k

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

Neighborhood: Sands Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342178

* 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
 

$629,910$769,890$699,900

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$2,431
Property Tax -$418
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
-$841

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$699,900

PROJECTED PRICE

$2,180

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$695

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,224

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9953$2,0004$2,1805$2,195
$2,195
RENT COMPS ANALYSIS
  • 324 W Seldon Lane Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,366 Sqft ∙ Built 1958 4 beds 2 baths ∙ 2,366 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.92
    •  
  • 1524 W Mission Lane Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1959 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1959
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.86
    •  
  • 1566 W Lawrence Lane Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 1959 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 1959
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.97
    •  
  • 8735 N Drey Lane Phoenix, AZ 3
    • 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
    •  
  • 7529 N 8th Avenue Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 1956 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 1956
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.03
    •  
PROPERTY LISTING DETAILS
Shawnee Doherty
United Real Estate Specialists
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6207822
Last Updated: 03/20/2021
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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