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3632 N 88th Drive Phoenix, AZ 85037

3 Beds 2 Baths 1,496 sqft Built 1979

$289,900

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $193.78
  • 4 Days on Market
  • MLS # : 6162203
  • Updated Date : 11/18/2020 at 22:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,496 sqft
  • Baths : 1 full , 1 half
Listing Agent

Delex Realty

Listing Agent's Description

Nice home with a pool and play area for the kids, Nice size bedrooms, family and living rooms open floorplan and kitchen open to family room & sliding doors to the back yard, bay window in kitchen, inside laundry, walk-in in master bed, desert landscaping, cov. patio, RV Gate/Parking.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Braewood Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $75k271k

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

Neighborhood: Braewood Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7471567

* 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
Pendergast Elementary School Primary Regular 784 33 3
Pendergast Elementary School Middle Regular 784 33 3
Copper Canyon High School High Regular 2,251 82 1

Pendergast Elementary School

  • Education Level: Primary
  • # of students: 784
  • # of teachers: 33
3
GreatSchools Rating

Pendergast Elementary School

  • Education Level: Middle
  • # of students: 784
  • # of teachers: 33
3
GreatSchools Rating

Copper Canyon High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 82
1
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$1,070
Property Tax -$179
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$254

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.

$289,900

PROJECTED PRICE

$1,150

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 12.0%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,241

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,227

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,1503$1,2504$1,2605$1,350
$1,350
RENT COMPS ANALYSIS
  • 3632 N 88th Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.77
    •  
  • 8956 W Indianola Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,331 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,331 Sqft ∙ Built 1987
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.82
    •  
  • 8614 W Campbell Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1998
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.83
    •  
  • 4216 N 86th Avenue Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 1976
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.83
    •  
  • 8507 W Minnezona Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1996
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.80
    •  
PROPERTY LISTING DETAILS
John Filipian
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162203
Last Updated: 11/18/2020
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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