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3243 E Hononegh Drive Phoenix, AZ 85050

3 Beds 2 Baths 1,356 sqft Built 1997

$319,900

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $235.91
  • 4 Days on Market
  • MLS # : 6159481
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,356 sqft
  • Baths : 2 full
Listing Agent

Mcmath Realty Llc

Listing Agent's Description

**ATTENTION INVESTORS** THE PERFECT RENTAL PROPERTY WITH TONS OF POTENTIAL. TENANT HAS BEEN HERE FOR OVER 12 YEARS! IDEAL 3 BEDROOM, 2 BATH, OPEN FLOOR PLAN. LOW MAINTENANCE YARDS. MASTER SUITE HAS A LARGE WALK-IN CLOSET, DUAL VANITY, AND WALK-IN SHOWER. 2 CAR GARAGE. EVERYTHING YOU'RE LOOKING FOR IN AN INVESTMENT PROPERTY! CURRENT, TRANSFERRABLE LEASE. NEAR TO GREAT SCHOOLS, SHOPPING, AND JUST MINUTES TO THE 101. DON'T MISS OUT ON THIS MUST SEE!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Springfield Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Springfield Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9231981

* 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
Quail Run Elementary School Primary Regular 723 36 8
Quail Run Elementary School Middle Regular 723 36 8
Pinnacle High School High Regular 2,443 96 8

Quail Run Elementary School

  • Education Level: Primary
  • # of students: 723
  • # of teachers: 36
8
GreatSchools Rating

Quail Run Elementary School

  • Education Level: Middle
  • # of students: 723
  • # of teachers: 36
8
GreatSchools Rating

Pinnacle High School

  • Education Level: High
  • # of students: 2,443
  • # of teachers: 96
8
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,180
Property Tax -$201
Property Insurance -$54
HOA -$6
Property Management Fees -$99
CASH FLOW
$79

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.

$319,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$30,240

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,620

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5453$1,6204$1,6505$1,925
$1,925
RENT COMPS ANALYSIS
  • 3243 E Hononegh Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.19
    •  
  • 3150 E Beardsley Road #1049 Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,361 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,361 Sqft ∙ Built 2003
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.10
    •  
  • 3150 E Beardsley Road #1070 Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,372 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,372 Sqft ∙ Built 2002
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $1.13
    •  
  • 20019 N 33rd Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 1994
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.26
    •  
  • 20221 N 33rd Street Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 1996
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.29
    •  
PROPERTY LISTING DETAILS
Tyler Nick
Mcmath Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159481
Last Updated: 11/13/2020
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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