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

3848 E Sophie Lane Phoenix, AZ 85042

3 Beds 3 Baths 2,011 sqft Built 2018

$380,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $188.96
  • 3 Days on Market
  • MLS # : 6208329
  • Updated Date : 03/21/2021 at 03:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,011 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

This 2018 Cal Atlantic built home is in a gated community. Minutes to Tempe and Downtown Phoenix. Close to the Raven and Legacy Golf course as well as Arizona Grand resort. Beautiful quartz counter tops, white cabinets wood tile flooring, loft (which is great for the kids) Extended shower, Tankless water heater, Gas stub in back for bbq.water softener loop and This home won't last long. Please call to schedule a showing.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Blossom Hills East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $83k313k

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

Neighborhood: Blossom Hills East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8621688

* 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
South Mountain High School High Regular 1,706 102 2
Phoenix Coding Academy High Unknown NA
Phoenix Coding Academy High Regular NA

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,320
Property Tax -$247
Property Insurance -$66
HOA -$99
Property Management Fees -$99
CASH FLOW
$39

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.

$380,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.1%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$24,339

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,996

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8704$1,9955$2,150
$2,150
RENT COMPS ANALYSIS
  • 3848 E Sophie Lane Phoenix, AZ 3
    • 3 beds 3 baths ∙ 2,011 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,011 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.93
    •  
  • 6827 S 39th Place Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 1998
    property image
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.02
    •  
  • 7727 S 39th Way Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2008
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 3848 E Minton Street Phoenix, AZ 4
    • 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 2004
    property image
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.02
    •  
  • 7422 S 28th Place Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,155 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,155 Sqft ∙ Built 2017
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.00
    •  
PROPERTY LISTING DETAILS
Bobby Romero
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6208329
Last Updated: 03/21/2021
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.

BESbswy