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3834 E Hearn Road Phoenix, AZ 85032

3 Beds 2 Baths 1,290 sqft Built 1974

$359,900

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $278.99
  • 4 Days on Market
  • MLS # : 6202151
  • Updated Date : 03/05/2021 at 17:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,290 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Absolutely stunning, recent full remodel 3 bed home on spacious, grassy lot with beautiful, mature landscaping in Paradise Valley Oasis. Conveniently located to shopping, dining, freeway, entertainment. Large, open living/dining area open to kitchen, ideal space to relax and entertain. Gorgeous kitchen, high end white cabinetry, custom backsplash, gleaming stainless steel appliances, huge island with convenient breakfast bar, glistening quartz counters, 5 burner gas range. Beautiful plank tile flooring throughout, plush carpeting in bedrooms. Very spacious primary bedroom, beautifully appointed primary bathroom. Bedrooms 2 & 3 roomy and light, large 2nd bathroom with high end finishes. Large, grassy backyard with spacious covered patio and convenient storage shed. Hurry and see this today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Paradise Valley Oasis

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $90k271k

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

Neighborhood: Paradise Valley Oasis

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8541567

* 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
Arrowhead Elementary School Primary Regular 491 36 2
Arrowhead Elementary School Middle Regular 491 36 2
Paradise Valley High School High Regular 1,806 99 5

Arrowhead Elementary School

  • Education Level: Primary
  • # of students: 491
  • # of teachers: 36
2
GreatSchools Rating

Arrowhead Elementary School

  • Education Level: Middle
  • # of students: 491
  • # of teachers: 36
2
GreatSchools Rating

Paradise Valley High School

  • Education Level: High
  • # of students: 1,806
  • # of teachers: 99
5
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,250
Property Tax -$227
Property Insurance -$52
Property Management Fees -$99
CASH FLOW
-$198

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$359,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$8,019

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,503

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4303$1,5004$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 3834 E Hearn Road Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.11
    •  
  • 3510 E Ludlow Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1969
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.13
    •  
  • 3832 E Emile Zola Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1971
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.21
    •  
  • 3916 E Joan De Arc Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1971
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.16
    •  
  • 4330 E Evans Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1983
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.17
    •  
PROPERTY LISTING DETAILS
Max Shadle
Redfin Corporation
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202151
Last Updated: 03/05/2021
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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