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3842 E Irma Lane Phoenix, AZ 85050

4 Beds 3 Baths 2,041 sqft Built 2000

$500,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $244.98
  • 3 Days on Market
  • MLS # : 6206543
  • Updated Date : 03/13/2021 at 18:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,041 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Phoenix

Listing Agent's Description

This home is perfectly located on a cul-de-sac lot with a large grassy backyard and covered patio. Great location near Mayo Clinic and Desert Ridge. There's 4 bedrooms upstairs and an easy to maintain living area with tile in all traffic areas as well as the kitchen and family room. The kitchen has Corian counters, Oak cabinets, stainless steel stove/oven, microwave and dishwasher, side by side refrigerator and an island/breakfast bar. The living/dining rooms have carpeting, vaulted ceiling and Plantation shutters. You'll find custom paint and ceiling fans throughout the home a cozy gas fireplace in the family room and Epoxy flooring in the garage

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Wildcat Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k360k

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

Neighborhood: Wildcat Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9342011

* 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
Explorer Middle School Middle Regular 883 35 10
Pinnacle High School High Regular 2,443 96 8

Explorer Middle School

  • Education Level: Middle
  • # of students: 883
  • # of teachers: 35
10
GreatSchools Rating

Pinnacle High School

  • Education Level: High
  • # of students: 2,443
  • # of teachers: 96
8
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,737
Property Tax -$315
Property Insurance -$67
HOA -$16
Property Management Fees -$99
CASH FLOW
$146

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.

$500,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.6%
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$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$41,701

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,643

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3803$2,5254$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 3842 E Irma Lane Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.17
    •  
  • 21136 N 36th Place Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 2010
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.17
    •  
  • 21249 N 36th Place Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 2012
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,525
    • $1.35
    •  
  • 3666 E Zachary Drive Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 2011
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.39
    •  
  • 3723 E Zachary Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 2011
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.27
    •  
PROPERTY LISTING DETAILS
Casey Cuppy
Keller Williams Realty Phoenix
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206543
Last Updated: 03/13/2021
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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