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

38429 N 23rd Avenue Phoenix, AZ 85086

4 Beds 2 Baths 2,430 sqft Built 2000

$550,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $226.34
  • 3 Days on Market
  • MLS # : 6167339
  • Updated Date : 12/03/2020 at 23:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,430 sqft
  • Baths : 2 full
Listing Agent

Premier Edge Realty, Llc

Listing Agent's Description

BEAUTIFUL SINGLE LEVEL HOME ON 1.42 ACRES within approximately a quarter-mile of the Sonoran Desert Preserve. Hike, bike, walk, and ride horses to your heart's content. Cozy up in the large great room with 14' ceilings and a corner fireplace powered by propane from a simple tank AND enjoy spectacular views with mountains and desert all around. The entry great room, & dining room all have 14' ceilings which make the area seem majestic. The dining room is a large enough area for a table to sit 10-12 people comfortably. Gorgeous custom built knotty alder cabinets throughout the home, even in the laundry room. The kitchen eating bar is large enough to fit several bar stools comfortably. All new appliances in 2019, plus updated granite countertops, disposal, & granite composite sink in 2020

SEE MORE

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

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$2,029
Property Tax -$429
Property Insurance -$75
Property Management Fees -$99
CASH FLOW
-$501

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

$2,130

PROJECTED RENT

0.39%

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$10k

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 60% 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

1.33

YEARS SAVED

$4,074

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,968

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,9954$2,1305$2,250
$2,250
RENT COMPS ANALYSIS
  • 38429 N 23rd Avenue Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,430 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,430 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.88
    •  
  • 2217 W Shackleton Drive Anthem, AZ 1
    • 3 beds 2 baths ∙ 2,128 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,128 Sqft ∙ Built 2004
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.80
    •  
  • 39524 N Pinion Hills Court Anthem, AZ 2
    • 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2004
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
  • 2023 W Shackleton Drive Anthem, AZ 3
    • 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 2004
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.77
    •  
  • 39524 N Belfair Way Anthem, AZ 5
    • 4 beds 3 baths ∙ 2,663 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,663 Sqft ∙ Built 2004
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.84
    •  
PROPERTY LISTING DETAILS
Donna Cherie Mortensen
Premier Edge Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167339
Last Updated: 12/03/2020
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