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34016 N 29th Drive Phoenix, AZ 85085

3 Beds 3 Baths 2,606 sqft Built 2016

INVESTimate

$560,000

List Price

$2,250

$2,025 - $2,475

Rent Est.

$578,592  ( +3.32%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $214.89
  • 5 Days on Market
  • MLS # : 6121287
  • Updated Date : 08/22/2020 at 15:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,606 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

Opportunity is knocking ! This gorgeous 3 bed 3 bath home is ready for you to call home. Luxuriously appointed W/ over $123,000 of upgrades . Including a cabana with BBQ costing $40 K - add to that a beautiful pool & you have a back yard that's either an entertainers dream come true OR the perfect spot to shelter in place - you may never want to leave home. The kitchen is absolutely stunning - ample cabinets,granite counter-tops,fantastic SS appliances - including a trash compactor. Gotta love a gas cook top. enormous island with room for bar stool eating with dinning/breakfast room just off to the side. Island faces great room open concept to living room...keeping all the activity centered & focused in the nucleus of the house while the HUGE bedrooms stay private & relaxing OWNED SOLAR

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Gateway

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k395k

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

Neighborhood: North Gateway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342120

* 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
Desert Mountain School Primary Regular 695 42 7
Desert Mountain School Middle Regular 695 42 7
Barry Goldwater High School High Regular 1,856 88 4

Desert Mountain School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
7
GreatSchools Rating

Desert Mountain School

  • Education Level: Middle
  • # of students: 695
  • # of teachers: 42
7
GreatSchools Rating

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$504,000$616,000$560,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

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-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$2,066
Property Tax -$335
Property Insurance -$78
HOA -$92
Property Management Fees -$99
CASH FLOW
-$420

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.

$560,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.32%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$7,491

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,293

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2003$2,2504$2,2955$2,350
$2,350
RENT COMPS ANALYSIS
  • 34016 N 29th Drive Phoenix, 3
    • 3 beds 3 baths ∙ 2,606 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,606 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.86
    •  
  • 2643 W Gray Wolf Trail Phoenix, 1
    • 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2016
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.86
    •  
  • 3220 W Gran Paradiso Drive Phoenix, 2
    • 4 beds 3 baths ∙ 2,455 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,455 Sqft ∙ Built 2012
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 2314 W Old Paint Trail Phoenix, 4
    • 3 beds 3 baths ∙ 2,708 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,708 Sqft ∙ Built 2006
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.85
    •  
  • 2942 W Amber Sun Drive Phoenix, 5
    • 4 beds 3 baths ∙ 2,590 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,590 Sqft ∙ Built 2016
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.91
    •  
PROPERTY LISTING DETAILS
Rick J Patrick
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121287
Last Updated: 08/22/2020
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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