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3410 E Lazy Lane Phoenix, AZ 85028

3 Beds 2 Baths 2,150 sqft Built 1965

INVESTimate

$559,000

List Price

$2,010

$1,809 - $2,211

Rent Est.

$593,993  ( +6.26%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1965
  • Price/Sqft : $260.00
  • 6 Days on Market
  • MLS # : 6120318
  • Updated Date : 08/25/2020 at 14:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,150 sqft
  • Baths : 2 full
Listing Agent

Dpr Realty Llc

Listing Agent's Description

LOOK NO FURTHER than Phoenix Mountain Preserve and Mercury Mine Park, the gorgeous mountain views leads you to a beautiful desert landscaped home with a welcome courtyard that open the doors to a remodel home with impressive plantations shutters, dual pane energy windows, 18'' floor tile , ceiling fans, upgraded heating and A/C systems upgraded plumbling and electrical panel system, remodel family rm, with vaulted ceiling with solar tube skylight that give natural light that accents the granite stone fireplace , remodel kitchen with beautiful cabinetry, stainless steel appliances , with granite counter top and walk in pantry, 480 sq ft pool and sheded pump, bar b que grill, cover patio with ceiling fan,fruits trees and plant, 2 car garage with built in shelves for storage.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sher-Renee Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k412k

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

Neighborhood: Sher-Renee Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Mercury Mine Elementary School Primary Regular 546 27 8
Mercury Mine Elementary School Middle Regular 546 27 8
Shadow Mountain High School High Regular 1,390 67 3

Mercury Mine Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Mercury Mine Elementary School

  • Education Level: Middle
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$503,100$614,900$559,000

PURCHASE PRICE

$1,809$2,211$2,010

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$2,062
Property Tax -$352
Property Insurance -$69
Property Management Fees -$99
CASH FLOW
-$573

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.

$559,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.26%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$153,885

INVESTMENT

$153,885

Down Payment
$139,750
Rehab Estimate
$5,750
Closing Costs
$8,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,750
Loan Amount $419,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,813

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,037

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,8003$2,0004$2,0105$2,195
$2,195
RENT COMPS ANALYSIS
  • 3410 E Lazy Lane Phoenix, 4
    • 3 beds 2 baths ∙ 2,150 Sqft ∙ Built 1965 3 beds 2 baths ∙ 2,150 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.93
    •  
  • 3550 E Cannon Drive Phoenix, 1
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 1971
    property image
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.93
    •  
  • 3429 E Cochise Drive Phoenix, 2
    • 3 beds 2 baths ∙ 2,137 Sqft ∙ Built 1970 3 beds 2 baths ∙ 2,137 Sqft ∙ Built 1970
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 3555 E North Lane Phoenix, 3
    • 4 beds 2 baths ∙ 2,175 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,175 Sqft ∙ Built 1971
    property image
    LEASED 04/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.92
    •  
  • 10809 N 33rd Place Phoenix, 5
    • 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1973
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.10
    •  
PROPERTY LISTING DETAILS
Alvin Ray Johnson
Dpr Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120318
Last Updated: 08/25/2020
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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