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331 E Verde Lane Phoenix, AZ 85012

4 Beds 3 Baths 2,413 sqft Built 1935

$594,900

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1935
  • Price/Sqft : $246.54
  • 4 Days on Market
  • MLS # : 6159441
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,413 sqft
  • Baths : 3 full
Listing Agent

Win Properties

Listing Agent's Description

This charming historic home has it all! A huge main house including 3 bedrooms and 2 baths and a guest house with another bedroom and bath! This home is located in beautiful La Hacienda Historic District. The home is perfect for all families just starting out, families with kids, empty nesters, stay at home Mom's or retired couples that want to just relax by the pool. It is the perfect home in a great location. So close to so many amenities, like restaurants, groceries, or a walk to downtown and the rail! The guest house is perfect for a yoga studio, a second office or even an AirBnB! See the documents section for additional information. See GH through exterior door in Master hall.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mayfair

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k433k

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

Neighborhood: Mayfair

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9131699

* 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
 

$535,410$654,390$594,900

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$2,195
Property Tax -$313
Property Insurance -$74
Property Management Fees -$99
CASH FLOW
-$512

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.

$594,900

PROJECTED PRICE

$2,170

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.8%
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-$10k-$5.0k$0.0$5.0k$10k$15k

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$163,399

INVESTMENT

$163,399

Down Payment
$148,725
Rehab Estimate
$5,750
Closing Costs
$8,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,725
Loan Amount $446,175
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,360

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,419

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,9953$2,1704$2,3505$2,850
$2,850
RENT COMPS ANALYSIS
  • 331 E Verde Lane Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 1935 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 1935
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.90
    •  
  • 309 W Almeria Road Phoenix, AZ 1
    • 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 1945 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 1945
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.77
    •  
  • 1201 E Almeria Road Phoenix, AZ 2
    • 3 beds 2 baths ∙ 2,213 Sqft ∙ Built 1953 3 beds 2 baths ∙ 2,213 Sqft ∙ Built 1953
    LEASED 09/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 1221 E Windsor Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1951 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1951
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.13
    •  
  • 1144 W Edgemont Avenue Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 1950 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 1950
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.21
    •  
PROPERTY LISTING DETAILS
Patricia J Flock
Win Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159441
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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