Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3724 W Alice Avenue Phoenix, AZ 85051

3 Beds 2 Baths 1,603 sqft Built 1968

$280,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $174.67
  • 3 Days on Market
  • MLS # : 6172608
  • Updated Date : 12/18/2020 at 15:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,603 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Create lasting memories in this beautiful home.This spacious 3-bedroom, 2-bath home has a great balance of open floor plan & defined spaces to give you a cozy feel in an open area.Look at that whitewashed fireplace! Such a great focal point. Large Kitchen W/island & plenty of cabinets. The sky slights give the spacious common areas lots of natural lighting & the view through the glass door looking out to the sparkling pool is inviting even in this ''winter weather''.The back yard is full of entertaining & relaxing spaces for day & night time enjoyment. RV parking W/30amp electric hookup. Low maintenance landscape in front & back yard so you can spend less time working and more time enjoying your home. Fire pit, gazebo, outside bar & more...This home is unique, a must see! Will be gone soon

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Wishing Well Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Wishing Well Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8021567

* 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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,033
Property Tax -$167
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
$122

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.

$280,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.53%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$33,297

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,306

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,245
1$1,2452$1,2953$1,4504$1,4655$1,480
$1,480
RENT COMPS ANALYSIS
  • 3724 W Alice Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.92
    •  
  • 4039 W El Caminito Drive Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,547 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,547 Sqft ∙ Built 1964
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.80
    •  
  • 4141 W Orchid Lane Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1976
    property image
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.80
    •  
  • 4249 W Townley Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 1966
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 3828 W Mission Lane Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1969
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,465
    • $0.83
    •  
PROPERTY LISTING DETAILS
Aida Ayala
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172608
Last Updated: 12/18/2020
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.

BESbswy