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3438 W Corrine Drive Phoenix, AZ 85029

3 Beds 2 Baths 1,158 sqft Built 1960

$250,000

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $215.89
  • 2 Days on Market
  • MLS # : 6157619
  • Updated Date : 11/07/2020 at 17:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,158 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

WOW. Completely remodeled 3 bedroom and 2 bath home. This home has an open floor plan with all new windows, new doors, new flooring, new cabinets, new quartz counters. There is a one car garage and large laundry room. New paint inside and out along with fresh landscape front and rear as well. The roof and AC are also newer, this home is like new all the way around. Easy access to the freeway. This home is a must see.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Westown

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $80k271k

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

Neighborhood: Westown

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8061567

* 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
Sahuaro Elementary School Primary Regular 599 29 5
Sahuaro Elementary School Middle Regular 599 29 5
Moon Valley High School High Regular 1,479 70 5

Sahuaro Elementary School

  • Education Level: Primary
  • # of students: 599
  • # of teachers: 29
5
GreatSchools Rating

Sahuaro Elementary School

  • Education Level: Middle
  • # of students: 599
  • # of teachers: 29
5
GreatSchools Rating

Moon Valley High School

  • Education Level: High
  • # of students: 1,479
  • # of teachers: 70
5
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$922
Property Tax -$149
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
-$130

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.

$250,000

PROJECTED PRICE

$1,090

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.3%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,759

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
  • $1,089

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2003$1,2504$1,3505$1,385
$1,385
RENT COMPS ANALYSIS
  • 3438 W Corrine Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,158 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,158 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3108 W Larkspur Drive W Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1960
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.89
    •  
  • 4002 W Cortez Street Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1978
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.95
    •  
  • 3308 W Surrey Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1962
    property image
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 3150 W Willow Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1961
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $0.96
    •  
PROPERTY LISTING DETAILS
Leonard Behie
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157619
Last Updated: 11/07/2020
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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