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3628 W Griswold Road Phoenix, AZ 85051

3 Beds 2 Baths 1,780 sqft Built 1966

$274,900

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $154.44
  • 2 Days on Market
  • MLS # : 6163605
  • Updated Date : 11/21/2020 at 15:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,780 sqft
  • Baths : 2 full
Listing Agent

Maplewood Homes

Listing Agent's Description

WOW! This home has recently been remodeled by a licensed contractor. The home features fresh paint, new flooring, and updated fixtures throughout. Walk in to a spacious living room filled with natural light. The kitchen has been completely redone with new white cabinets, quartz counter tops, stainless steel appliances, and new hardware. All bedrooms boast new carpet, fresh paint, and new light fixtures. Both bathrooms have newer vanities, counter tops, and fixtures. No HOA!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Northern Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $79k271k

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

Neighborhood: Northern Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7921567

* 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
Manzanita Elementary School Primary Regular 797 41 4
Manzanita Elementary School Middle Regular 797 41 4
Cortez High School High Regular 1,127 55 4

Manzanita Elementary School

  • Education Level: Primary
  • # of students: 797
  • # of teachers: 41
4
GreatSchools Rating

Manzanita Elementary School

  • Education Level: Middle
  • # of students: 797
  • # of teachers: 41
4
GreatSchools Rating

Cortez High School

  • Education Level: High
  • # of students: 1,127
  • # of teachers: 55
4
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$1,014
Property Tax -$164
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$29

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.

$274,900

PROJECTED PRICE

$1,310

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$17,291

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,428

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3103$1,4994$1,5155$1,575
$1,575
RENT COMPS ANALYSIS
  • 3628 W Griswold Road Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.74
    •  
  • 4141 W Orchid Lane Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1976
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.80
    •  
  • 4134 W Las Palmaritas Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1966
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.83
    •  
  • 3827 W Loma Lane Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 1971
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,515
    • $0.77
    •  
  • 3602 W Ruth Avenue Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1960
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.81
    •  
PROPERTY LISTING DETAILS
Eric R Hartsburg
Maplewood Homes
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163605
Last Updated: 11/21/2020
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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