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3417 E Lazy Lane Phoenix, AZ 85028

3 Beds 2 Baths 2,057 sqft Built 1961

$589,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $286.34
  • 4 Days on Market
  • MLS # : 6192933
  • Updated Date : 02/13/2021 at 20:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,057 sqft
  • Baths : 2 full
Listing Agent

Precision Real Estate

Listing Agent's Description

Take in the Phoenix Mountain Preserve views of Piestewa Peak from this corner lot home offering 2,057 sq/ft, 3 bedrooms, 2 baths, including an Office. Storage abound- with 3 enclosed storage areas and a 2-car garage. This N/S facing, single-level home resides in the popular Sher-Renee Heights subdivision, within the re-branded ''32 North neighborhood''. The Open Kitchen features: maple cabinets, over-sized granite eat-in kitchen counter, separate back bar/food prep- area with wood top, and dark colored appliances. The Kitchen looks over the inviting family room and informal dining area with a brick gas fireplace/mantle. The Cozy Master-Bedroom suite has a master bath with glass walk-in shower and dressing area. Traditional Saltillo tiled floors in common areas & carpeted bedrooms.

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
Shea Middle School Middle Regular 641 37 6
Shadow Mountain High School High Regular 1,390 67 3

Shea Middle School

  • Education Level: Middle
  • # of students: 641
  • # of teachers: 37
6
GreatSchools Rating

Shadow Mountain High School

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

$530,100$647,900$589,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$2,046
Property Tax -$371
Property Insurance -$67
Property Management Fees -$99
CASH FLOW
-$673

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.

$589,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.3%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$161,835

INVESTMENT

$161,835

Down Payment
$147,250
Rehab Estimate
$5,750
Closing Costs
$8,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,046

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,250
Loan Amount $441,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$701

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,006

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8003$1,9504$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 3417 E Lazy Lane Phoenix, AZ 1
    • 3 beds 2 baths ∙ 2,057 Sqft ∙ Built 1961 3 beds 2 baths ∙ 2,057 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3429 E Cochise Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 2,137 Sqft ∙ Built 1970 3 beds 2 baths ∙ 2,137 Sqft ∙ Built 1970
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 3409 E Mountain View Road Phoenix, AZ 3
    • 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 1960 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 1960
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
  • 3555 E North Lane Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,175 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,175 Sqft ∙ Built 1971
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.01
    •  
  • 10602 N 35th Street Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 1973
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.13
    •  
PROPERTY LISTING DETAILS
Mike Tart
Precision Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192933
Last Updated: 02/13/2021
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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