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3861 W Caribbean Lane Phoenix, AZ 85053

4 Beds 3 Baths 1,652 sqft Built 1972

$397,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $240.31
  • 4 Days on Market
  • MLS # : 6170516
  • Updated Date : 12/17/2020 at 02:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,652 sqft
  • Baths : 3 full
Listing Agent

West Usa Realty

Listing Agent's Description

Gorgeous fully-renovated modern farmhouse with a pool & no HOA! Single level ranch-style home with 4 beds & 3 baths, with 2 of the bedrooms being master suites with attached bathrooms. The family room opens to a beautiful kitchen with custom tile backsplash, quartz counters, shaker cabinets, a bar area, and stainless steel appliances (Refrigerator is included with sale). Upon entry, you have great sightline to an 8' picture window that overlooks the Pebble Tec pool with rock waterfall. The backyard has an RV gate, two walkthrough gates, & a storage shed as well. Energy-efficient LED lighting & new dual-pane low-e windows can be found throughout the home, along with new doors, ceilings fans & custom tile work in the bathrooms. This is a move-in-ready home that will not last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Valley Villa

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: Valley Villa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8581567

* 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
Ironwood Elementary School Primary Regular 529 27 5
Desert Foothills Junior High School Middle Regular 660 32 6
Greenway High School High Regular 1,474 68 7

Ironwood Elementary School

  • Education Level: Primary
  • # of students: 529
  • # of teachers: 27
5
GreatSchools Rating

Desert Foothills Junior High School

  • Education Level: Middle
  • # of students: 660
  • # of teachers: 32
6
GreatSchools Rating

Greenway High School

  • Education Level: High
  • # of students: 1,474
  • # of teachers: 68
7
GreatSchools Rating
 

$357,300$436,700$397,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,465
Property Tax -$237
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
-$350

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.

$397,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.3%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$110,955

INVESTMENT

$110,955

Down Payment
$99,250
Rehab Estimate
$5,750
Closing Costs
$5,955

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,465

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,250
Loan Amount $297,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,521

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,233

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,4003$1,4254$1,510
$1,510
RENT COMPS ANALYSIS
  • 3861 W Caribbean Lane Phoenix, AZ 4
    • 4 beds 3 baths ∙ 1,652 Sqft ∙ Built 1972 4 beds 3 baths ∙ 1,652 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.91
    •  
  • 3932 W Woodridge Drive Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1979
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.73
    •  
  • 3518 W Eugie Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1970
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.74
    •  
  • 13813 N 36th Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1971
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.77
    •  
PROPERTY LISTING DETAILS
Yvette Okenwa
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170516
Last Updated: 12/17/2020
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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