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3738 W Palmaire Avenue Phoenix, AZ 85051

3 Beds 2 Baths 1,551 sqft Built 1960

$280,000

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $180.53
  • 3 Days on Market
  • MLS # : 6206461
  • Updated Date : 03/12/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,551 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Welcome home to this wonderful 3 bedroom, 2 bathroom Phoenix home with NO HOA! Pulling up to the home, you will notice the immaculate curb appeal with mature trees! Inside, there is neutral paint and flooring throughout that will compliment all of your furnishings. Your beautiful eat-in kitchen showcases crisp white cabinets and appliances as well as gorgeous granite countertops! The spacious living room is an excellent space to gather and entertain friends and family! Each of the bedrooms are an excellent size and feature plush carpet and ample closet space! Step outside to your entertainer's dream yard! This fantastic yard has a large covered patio, luscious grass, a firepit and a sparkling resurfaced pool! Don't miss out on this charming family home, schedule your showing today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cox Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $75k271k

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

Neighborhood: Cox Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7841567

* 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
Palo Verde Middle School Middle Regular 925 46 3
Washington High School High Regular 1,714 73 4

Palo Verde Middle School

  • Education Level: Middle
  • # of students: 925
  • # of teachers: 46
3
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 73
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$973
Property Tax -$167
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$96

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

$1,200

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.5%
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

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$800k$900k

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 55% down payment or higher enables the proceeds from the asset to cover all costs.

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$9,450

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,311

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,175
1$1,1752$1,1953$1,2004$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 3738 W Palmaire Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.77
    •  
  • 6604 N 43rd Avenue Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1963
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.83
    •  
  • 6692 N 43rd Avenue Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1963
    property image
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.85
    •  
  • 4601 W Northview Avenue Glendale, AZ 4
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1974
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 3739 W Orangewood Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 1962
    property image
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
George Laughton
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206461
Last Updated: 03/12/2021
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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