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3502 E Janice Way Phoenix, AZ 85032

4 Beds 2 Baths 1,870 sqft Built 1979

$419,977

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $224.59
  • 3 Days on Market
  • MLS # : 6165234
  • Updated Date : 11/28/2020 at 20:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,870 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Incredible opportunity, Amazing location. 4 bedroom, 2 bath, 1870 sq ft, 2 car garage, beautiful mature landscape, N/S exposure, Quiet cul-de-sac, Corner lot. Completely renovated home: New white shaker cabinets throughout * New quartz countertops * New plank tile * Custom stand-up shower in master bathroom, with custom glass * Custom tile surround in hall bath, with soaker tub * New dual flush toilets * New carpet * New high-end stainless appliances * New modern hardware throughout * New neutral paint, interior and exterior * Large inside laundry room. Too much to list... Hurry, a must see! Book a showing today!

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
Arrowhead Elementary School Primary Regular 491 36 2
Arrowhead Elementary School Middle Regular 491 36 2
Paradise Valley High School High Regular 1,806 99 5

Arrowhead Elementary School

  • Education Level: Primary
  • # of students: 491
  • # of teachers: 36
2
GreatSchools Rating

Arrowhead Elementary School

  • Education Level: Middle
  • # of students: 491
  • # of teachers: 36
2
GreatSchools Rating

Paradise Valley High School

  • Education Level: High
  • # of students: 1,806
  • # of teachers: 99
5
GreatSchools Rating
 

$377,979$461,975$419,977

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,550
Property Tax -$265
Property Insurance -$64
Property Management Fees -$99
CASH FLOW
-$357

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.

$419,977

PROJECTED PRICE

$1,620

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,044

INVESTMENT

$117,044

Down Payment
$104,994
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,994
Loan Amount $314,983
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,291

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,6503$1,7004$1,8255$1,935
$1,935
RENT COMPS ANALYSIS
  • 3502 E Janice Way Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,870 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,870 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.87
    •  
  • 3947 E Nisbet Road Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1979
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 3452 E Acoma Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1978
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 14801 N 37th Place Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 1972
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.99
    •  
  • 3412 E Claire Drive Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,976 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,976 Sqft ∙ Built 1977
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,935
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jody M Bowen
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165234
Last Updated: 11/28/2020
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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