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3621 S 73rd Drive Phoenix, AZ 85043

3 Beds 2 Baths 1,557 sqft Built 2000

INVESTimate

$229,900

List Price

$1,170

$1,053 - $1,287

Rent Est.

$250,131  ( +8.80%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $147.66
  • 10 Days on Market
  • MLS # : 6118691
  • Updated Date : 08/23/2020 at 10:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,557 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Great starter home, just needs some cosmetic updating! Covered patios in front and back. Close to two parks and a high school. Large Kitchen and eating area. Don't miss this great buy! Court Approval Required! 45-55 COE time frame.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Marbella

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $72k271k

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

Neighborhood: Marbella

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7421567

* 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
Tuscano Elementary School Primary Regular 719 34 4
Western Valley Middle School Middle Regular 795 41 3
Sierra Linda High School High Regular 1,883 72 1

Tuscano Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 34
4
GreatSchools Rating

Western Valley Middle School

  • Education Level: Middle
  • # of students: 795
  • # of teachers: 41
3
GreatSchools Rating

Sierra Linda High School

  • Education Level: High
  • # of students: 1,883
  • # of teachers: 72
1
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$848
Property Tax -$133
Property Insurance -$58
HOA -$72
Property Management Fees -$99
CASH FLOW
-$40

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.

$229,900

PROJECTED PRICE

$1,170

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.80%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$12,229

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,323

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,3453$1,3504$1,3955$1,395
$1,395
RENT COMPS ANALYSIS
  • 3621 S 73rd Drive Phoenix, 1
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.75
    •  
  • 7225 W Forest Grove Avenue Phoenix, 2
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2005
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.87
    •  
  • 7343 W Raymond Street Phoenix, 3
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2001
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 3426 S 72nd Lane Phoenix, 4
    • 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 2005
    property image
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.81
    •  
  • 7241 W Williams Street Phoenix, 5
    • 4 beds 2 baths ∙ 1,669 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,669 Sqft ∙ Built 2005
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.84
    •  
PROPERTY LISTING DETAILS
Daniel Popescu
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6118691
Last Updated: 08/23/2020
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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