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34 W Fernwood Drive Phoenix, AZ 85086

5 Beds 4 Baths 3,199 sqft Built 2003

$679,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $212.25
  • 3 Days on Market
  • MLS # : 6212439
  • Updated Date : 03/28/2021 at 01:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,199 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Your oasis the desert awaits. Come see this gorgeous Santa Fe style home nestled in the Daisy Mountains with stunning views of the hilltops night or day. The kitchen was updated with stone flooring, granite counter tops, custom-built wood accents on bar and island and custom cabinetry and new stainless appliances including double ovens, microwave and low decibel dishwasher. Guest suite has private access, perfect for multi-generational family living. As you walk through this palatial home notice the high ceilings family room and dining room. The large backyard is perfect for entertaining with a built in barbecue that includes a sound system. 3 car garage is oversized and comes with built-in cabinetry. RV parking on your acre lot with double RV gate. Don't wait! It won't last.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: New River

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k477k

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

Neighborhood: New River

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10452722

* 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
Boulder Creek High School High Regular 2,639 105 6
Boulder Creek High School High Unknown NA

Boulder Creek High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 105
6
GreatSchools Rating

Boulder Creek High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$611,100$746,900$679,000

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$2,358
Property Tax -$529
Property Insurance -$90
Property Management Fees -$99
CASH FLOW
-$186

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.

$679,000

PROJECTED PRICE

$2,890

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.5%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$185,685

INVESTMENT

$185,685

Down Payment
$169,750
Rehab Estimate
$5,750
Closing Costs
$10,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,358

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $169,750
Loan Amount $509,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$23,176

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,855

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,8903$2,8954$2,9505$3,200
$3,200
RENT COMPS ANALYSIS
  • 34 W Fernwood Drive Phoenix, AZ 2
    • 5 beds 3 baths ∙ 3,199 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,199 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $0.90
    •  
  • 2211 W Morse Court Anthem, AZ 1
    • 4 beds 3 baths ∙ 3,084 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,084 Sqft ∙ Built 2003
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.84
    •  
  • 38241 N 3rd Street Phoenix, AZ 3
    • 5 beds 3 baths ∙ 3,342 Sqft ∙ Built 1996 5 beds 3 baths ∙ 3,342 Sqft ∙ Built 1996
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.87
    •  
  • 40924 N Lambert Trail Phoenix, AZ 4
    • 4 beds 4 baths ∙ 3,304 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,304 Sqft ∙ Built 2004
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.89
    •  
  • 1327 W Spirit Drive Anthem, AZ 5
    • 4 beds 4 baths ∙ 3,304 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,304 Sqft ∙ Built 2004
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.97
    •  
PROPERTY LISTING DETAILS
Melissa M Bailey
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6212439
Last Updated: 03/28/2021
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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