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3501 E Crocus Drive Phoenix, AZ 85032

4 Beds 2 Baths 1,396 sqft Built 1978

$399,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $285.82
  • 3 Days on Market
  • MLS # : 6206368
  • Updated Date : 03/13/2021 at 02:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,396 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Beautifully remodeled 4 bedroom, 2 bath home located in Paradise Valley Oasis. Located on an amazing street with even more amazing neighbors and NO HOA! Almost everything is brand new! NEW roof, NEW AC, NEW electrical, NEW bathrooms, NEW flooring, NEW appliances, NEW kitchen cabinets, seriously everything is new! The living spaces was opened up for an open concept. Extremely desirable PV school district and minutes from the Phoenix Mountain Preserve. PRIME LOCATION minutes away from parks, shopping, fine dining, freeways, airport, downtown Phx, hiking, golf, & PV Mall!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Paradise Valley Oasis

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $90k271k

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

Neighborhood: Paradise Valley Oasis

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8541567

* 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
Greenway Middle School Middle Regular 518 26 2
Shadow Mountain High School High Regular 1,390 67 3
Greenway Middle School Middle Unknown NA

Greenway Middle School

  • Education Level: Middle
  • # of students: 518
  • # of teachers: 26
2
GreatSchools Rating

Shadow Mountain High School

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

Greenway Middle School

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

$359,100$438,900$399,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,386
Property Tax -$251
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$241

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$399,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,698

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,668

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5003$1,5504$1,6495$1,750
$1,750
RENT COMPS ANALYSIS
  • 3501 E Crocus Drive Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,396 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,396 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.11
    •  
  • 3510 E Ludlow Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1969
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.13
    •  
  • 3832 E Emile Zola Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1971
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.21
    •  
  • 14030 N 34th Place Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,340 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,340 Sqft ∙ Built 1969
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $1.23
    •  
  • 3463 E Thunderbird Road Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1970
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.22
    •  
PROPERTY LISTING DETAILS
Tanya Toliver
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206368
Last Updated: 03/13/2021
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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