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329 E Weldon Avenue Phoenix, AZ 85012

3 Beds 2 Baths 1,200 sqft Built 1942

$360,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1942
  • Price/Sqft : $300.00
  • 3 Days on Market
  • MLS # : 6160055
  • Updated Date : 11/14/2020 at 19:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Brokers Hub Realty, Llc

Listing Agent's Description

Great opportunity to live in increasingly popular Mid-town Phoenix. Walk to Steele Indian School Park, Melrose District and Metro Light Rail to get to Downtown, Airport and Tempe/Mesa. This is a great newly remodeled 3 bed, 2 bath bungalow. Contemporary kitchen with beautiful backsplash granite counters. Both baths are remodeled w/ new vanities, shower surrounds and toilets. New inside laundry closet for full sized stacked units. The house has 200amp electrical service, new roof and AC. Seller has never occupied the property. Property is being sold As Is and seller will make no repairs, please include in offer.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alamo Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $82k271k

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

Neighborhood: Alamo Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8241567

* 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
Longview Elementary School Primary Alternative 627 33 2
Osborn Middle School Middle Alternative 565 30 5
Central High School High Regular 2,251 136 3

Longview Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 33
2
GreatSchools Rating

Osborn Middle School

  • Education Level: Middle
  • # of students: 565
  • # of teachers: 30
5
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,328
Property Tax -$190
Property Insurance -$51
Property Management Fees -$99
CASH FLOW
-$178

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.

$360,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.8%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,941

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $1,737

    COMP ESTIMATED VALUE
  • $1.45

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4903$1,5004$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 329 E Weldon Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1942
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.24
    •  
  • 805 E Turney Avenue Phoenix, AZ 1
    • 3 beds 1 baths ∙ 1,050 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,050 Sqft ∙ Built 1962
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.33
    •  
  • 1123 E Fairmount Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,015 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,015 Sqft ∙ Built 1935
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.48
    •  
  • 325 E Clarendon Avenue Phoenix, AZ 4
    • 3 beds 1 baths ∙ 1,009 Sqft ∙ Built 1941 3 beds 1 baths ∙ 1,009 Sqft ∙ Built 1941
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.58
    •  
  • 905 E Amelia Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,142 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,142 Sqft ∙ Built 1935
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.40
    •  
PROPERTY LISTING DETAILS
Chris F Campbell
Brokers Hub Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160055
Last Updated: 11/14/2020
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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