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3509 E Evans Drive Phoenix, AZ 85032

2 Beds 1 Baths 1,236 sqft Built 1979

$275,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $222.49
  • 3 Days on Market
  • MLS # : 6154771
  • Updated Date : 11/02/2020 at 08:57
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,236 sqft
  • Baths : 1 full
Listing Agent

Homesmart

Listing Agent's Description

This updated home is located in a quiet cul-de-sac with easy access to the 51 freeway. This home has stainless steel appliances,vinyl flooring with tile in the bathroom, granite countertops, and a large Arizona room. This property has a large lot with roomto grow and no HOA. The leased solar panels provide a cost effective way to cool the home in the hot summer months.

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
Indian Bend Elementary School Primary Regular 571 35 5
Indian Bend Elementary School Middle Regular 571 35 5
Shadow Mountain High School High Regular 1,390 67 3

Indian Bend Elementary School

  • Education Level: Primary
  • # of students: 571
  • # of teachers: 35
5
GreatSchools Rating

Indian Bend Elementary School

  • Education Level: Middle
  • # of students: 571
  • # of teachers: 35
5
GreatSchools Rating

Shadow Mountain High School

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

$247,500$302,500$275,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$1,015
Property Tax -$173
Property Insurance -$51
Property Management Fees -$99
CASH FLOW
-$38

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.

$275,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$17,050

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,424

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,1953$1,1954$1,3005$1,325
$1,325
RENT COMPS ANALYSIS
  • 3509 E Evans Drive Phoenix, AZ 4
    • 2 beds 1 baths ∙ 1,236 Sqft ∙ Built 1979 2 beds 1 baths ∙ 1,236 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.05
    •  
  • 15402 N 28th Street #129 Phoenix, AZ 1
    • 2 beds 2 baths ∙ 946 Sqft ∙ Built 1984 2 beds 2 baths ∙ 946 Sqft ∙ Built 1984
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $1.05
    •  
  • 3845 E Greenway Road #218 Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,014 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,014 Sqft ∙ Built 1988
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.18
    •  
  • 3845 E Greenway Road #230 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,014 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,014 Sqft ∙ Built 1988
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.18
    •  
  • 4034 E Nisbet Road Phoenix, AZ 5
    • 2 beds 1 baths ∙ 1,104 Sqft ∙ Built 1983 2 beds 1 baths ∙ 1,104 Sqft ∙ Built 1983
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.20
    •  
PROPERTY LISTING DETAILS
Henry Collins
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154771
Last Updated: 11/02/2020
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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