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3642 E Lavender Lane Phoenix, AZ 85044

2 Beds 2 Baths 2,031 sqft Built 1989

$475,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $233.87
  • 2 Days on Market
  • MLS # : 6201095
  • Updated Date : 03/06/2021 at 18:39
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,031 sqft
  • Baths : 2 full
Listing Agent

Superlative Realty

Listing Agent's Description

(Bonus-room used as a bedroom 3, no closet, plus there is an open den area). Premium cul-de-sac location, elevated private lot, low maintenance + low water use landscaping. Bright open floorplan with soaring vaulted ceilings, 2 real wood fireplaces. Low HOA fees just $27 a month with 3 community pools, tot-lots, parks, tennis, pickle-ball and basketball closeby to enjoy just a walk away. 5 minutes drive to Ahwatukee shops and restaurants, yet private and quiet location. North facing backyard gives you a shady covered patio, with French doors to master bedroom, family room and the dining room, 10 minutes drive to Sky Harbor Airport, 15 minutes to Downtown Phoenix. Excellent Kyrene schools a walk away. View today to make this your new home.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mountain Park Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k379k

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

Neighborhood: Mountain Park Ranch

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 De La Colina School Primary Regular 535 30 7
Kyrene Centennial Middle School Middle Regular 1,054 57 7
Mountain Pointe High School High Regular 2,685 111 3

Kyrene De La Colina School

  • Education Level: Primary
  • # of students: 535
  • # of teachers: 30
7
GreatSchools Rating

Kyrene Centennial Middle School

  • Education Level: Middle
  • # of students: 1,054
  • # of teachers: 57
7
GreatSchools Rating

Mountain Pointe High School

  • Education Level: High
  • # of students: 2,685
  • # of teachers: 111
3
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,650
Property Tax -$338
Property Insurance -$67
HOA -$5
Property Management Fees -$99
CASH FLOW
-$538

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.

$475,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.8%
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-$10k-$8.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$571

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,781

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,4953$1,5504$1,620
$1,620
RENT COMPS ANALYSIS
  • 3642 E Lavender Lane Phoenix, AZ 4
    • 2 beds 2 baths ∙ 2,031 Sqft ∙ Built 1989 2 beds 2 baths ∙ 2,031 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.80
    •  
  • 11023 S Tomah Street Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,716 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,716 Sqft ∙ Built 1979
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.87
    •  
  • 11872 S Half Moon Drive Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,716 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,716 Sqft ∙ Built 1978
    LEASED 03/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.87
    •  
  • 11429 S Pawnee Circle Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,732 Sqft ∙ Built 1977 2 beds 2 baths ∙ 1,732 Sqft ∙ Built 1977
    LEASED 02/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
PROPERTY LISTING DETAILS
Anne Harlow
Superlative Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6201095
Last Updated: 03/06/2021
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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