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38233 N 31st Avenue Phoenix, AZ 85086

3 Beds 2 Baths 2,016 sqft Built 2006

$550,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2006
  • Price/Sqft : $272.82
  • 10 Days on Market
  • MLS # : 6151926
  • Updated Date : 10/26/2020 at 12:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,016 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Amazing views, beautiful finish and construction. Immaculately maintained property. This home has is it all. Set up as a horse property with extensive fencing, mare hotels, turn outs, etc. this turn key ready property is ready for your horses or just ready for you if you are looking to have your own land and space. Great southern views you will never tire of and a split master floor plan with open living space is perfect for family gatherings or just hanging out. Located close to highway access, shopping, etc. yet still feel as if you are in the country. Don't miss out on this opportunity to own this slice of paradise.

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PRICE & RENT TRENDS

Neighborhood: New River

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k371k

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

Neighborhood: New River

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9342423

* 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
Sunset Ridge School Primary Regular 972 50 8
Sunset Ridge School Middle Regular 972 50 8
Boulder Creek High School High Regular 2,639 105 6

Sunset Ridge School

  • Education Level: Primary
  • # of students: 972
  • # of teachers: 50
8
GreatSchools Rating

Sunset Ridge School

  • Education Level: Middle
  • # of students: 972
  • # of teachers: 50
8
GreatSchools Rating

Boulder Creek High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 105
6
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$2,029
Property Tax -$429
Property Insurance -$66
Property Management Fees -$99
CASH FLOW
-$693

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.

$550,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.5%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$474

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,981

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7003$1,8004$2,1955$2,199
$2,199
RENT COMPS ANALYSIS
  • 38233 N 31st Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3738 W Blue Eagle Court Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2006
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
  • 39148 N Acadia Way Anthem, AZ 3
    • 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2006
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 39114 N Parker Lane Anthem, AZ 4
    • 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2006
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.01
    •  
  • 37516 N 34th Drive Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,209 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,209 Sqft ∙ Built 2001
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $1.00
    •  
PROPERTY LISTING DETAILS
John Doering
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6151926
Last Updated: 10/26/2020
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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