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3509 E Verbena Drive Phoenix, AZ 85044

3 Beds 3 Baths 1,611 sqft Built 1987

$405,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $251.40
  • 4 Days on Market
  • MLS # : 6202627
  • Updated Date : 03/12/2021 at 01:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,611 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Arizona Realty

Listing Agent's Description

Three bedrooms and two and a half bathrooms in this bright and cheerful single family home. Soaring two story ceiling in great room. Private backyard HEATED pool and spa tub. Eat in kitchen. Fireplace. Master has two large closets. Master bath has a soaking tub and seperate shower. Mountain Park Ranch maintains 3 beautiful recreational areas with pool, spa, tennis courts, children's pool and playground area, volleyball, pickelball and picnic areas. Low HOA of about $25/month. Bus stop nearby. Shopping across the street. Amazing Kyrene schools! http://www.mtparkranch.org for all documents and community features.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Falconpoint

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Falconpoint

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Kyrene Monte Vista School Primary Regular 557 30 10
Kyrene Altadena Middle School Middle Regular 1,065 52 9
Desert Vista High School High Regular 3,037 130 8

Kyrene Monte Vista School

  • Education Level: Primary
  • # of students: 557
  • # of teachers: 30
10
GreatSchools Rating

Kyrene Altadena Middle School

  • Education Level: Middle
  • # of students: 1,065
  • # of teachers: 52
9
GreatSchools Rating

Desert Vista High School

  • Education Level: High
  • # of students: 3,037
  • # of teachers: 130
8
GreatSchools Rating
 

$364,500$445,500$405,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,407
Property Tax -$288
Property Insurance -$59
HOA -$4
Property Management Fees -$99
CASH FLOW
-$17

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.

$405,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,075

INVESTMENT

$113,075

Down Payment
$101,250
Rehab Estimate
$5,750
Closing Costs
$6,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,407

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $101,250
Loan Amount $303,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$21,292

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,828

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,8404$1,8505$1,995
$1,995
RENT COMPS ANALYSIS
  • 3509 E Verbena Drive Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,611 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,611 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $1.14
    •  
  • 3236 E Chandler Boulevard #2024 Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1996
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 3346 E Windmere Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1995
    property image
    LEASED 03/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
  • 3236 E Chandler Boulevard #2016 Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1996
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.17
    •  
  • 3341 E Long Lake Road Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1996
    property image
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.20
    •  
PROPERTY LISTING DETAILS
Heather Kay
Keller Williams Arizona Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202627
Last Updated: 03/12/2021
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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