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3422 N 24th Drive #0 Phoenix, AZ 85015

3 Beds 2 Baths 1,222 sqft Built 1953

$349,900

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $286.33
  • 2 Days on Market
  • MLS # : 6190826
  • Updated Date : 02/06/2021 at 08:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,222 sqft
  • Baths : 2 full
Listing Agent

Emg Real Estate

Listing Agent's Description

Location, location, location, look no further Home Sweet Home is ready for you. This home is located in a highly desired area close to downtown, schools, golf course, and has freeway access. Charming home is completely remodeled and ready for move in. Home features new kitchen cabinets, galaxy style granite countertops, new farmhouse style light fixtures, stylish backspalsh, new stainless steel kitchen appliances, farmhouse kitchen faucet, custom rustic grey barn door, completely remodeled restrooms with standup glass showers, walk in closet in bedroom, new carpet, new tile, new plumbing, new electrical wiring, and much more. Spend your summer days refreshing in your gated pebbletech pool with low maintance landscaping. Home also offers a completely remodeled workshop approx 500 sq ft.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Siesta Terrace

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $77k271k

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

Neighborhood: Siesta Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8231567

* 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
Central High School High Regular 2,251 136 3
Phoenix Coding Academy High Regular NA
Phoenix Coding Academy High Unknown NA

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
GreatSchools Rating

Phoenix Coding Academy

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

Phoenix Coding Academy

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

$314,910$384,890$349,900

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$1,215
Property Tax -$192
Property Insurance -$51
Property Management Fees -$99
CASH FLOW
-$337

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.

$349,900

PROJECTED PRICE

$1,220

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,866

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,210

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2003$1,2204$1,4755$1,475
$1,475
RENT COMPS ANALYSIS
  • 3422 N 24th Drive #0 Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $1.00
    •  
  • 2525 N 22nd Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1968
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.91
    •  
  • 2228 W Flower Street Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 1954
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.03
    •  
  • 3418 N 23rd Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1953
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.00
    •  
  • 2340 W Osborn Road Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1953
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.02
    •  
PROPERTY LISTING DETAILS
Janette Olvera-aviles
Emg Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190826
Last Updated: 02/06/2021
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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