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

3901 N 24th Avenue Phoenix, AZ 85015

3 Beds 2 Baths 1,476 sqft Built 1972

$245,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $165.99
  • 3 Days on Market
  • MLS # : 6162822
  • Updated Date : 11/20/2020 at 11:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,476 sqft
  • Baths : 2 full
Listing Agent

Eclat Real Estate

Listing Agent's Description

Spacious 3 bedroom 2 bath single house on corner lot. Large backyard with RV gate and swimming pool. Kitchen is pen and has 2 pantry rooms. Large inside laundry room with plenty of storage. Tile and Laminate wood flooring throughout. Easy access to freeway. Close to shopping, dinning and schools.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gerardo Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Gerardo Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7951567

* 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
Montebello School Primary Regular 1,387 50 2
Montebello School Middle Regular 1,387 50 2
Central High School High Regular 2,251 136 3

Montebello School

  • Education Level: Primary
  • # of students: 1,387
  • # of teachers: 50
2
GreatSchools Rating

Montebello School

  • Education Level: Middle
  • # of students: 1,387
  • # of teachers: 50
2
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$904
Property Tax -$134
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
$37

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.

$245,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.4%
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

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$21,685

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,310

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1953$1,2304$1,2955$1,475
$1,475
RENT COMPS ANALYSIS
  • 3901 N 24th Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.83
    •  
  • 2379 W Hazelwood Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1965
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.84
    •  
  • 2533 W Hazelwood Street #6 Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1976
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.86
    •  
  • 2544 W Campbell Avenue #27 Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1976
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.97
    •  
  • 4654 N 19th Avenue Phoenix, AZ 5
    • 4 beds 3 baths ∙ 1,680 Sqft ∙ Built 1967 4 beds 3 baths ∙ 1,680 Sqft ∙ Built 1967
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.88
    •  
PROPERTY LISTING DETAILS
Lin Lin
Eclat Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162822
Last Updated: 11/20/2020
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