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3922 E Shangri La Road Phoenix, AZ 85028

3 Beds 2 Baths 1,608 sqft Built 1968

$490,900

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $305.29
  • 4 Days on Market
  • MLS # : 6167225
  • Updated Date : 12/05/2020 at 11:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,608 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Charming 3 bed, 2 bath home has been nicely updated. Extended driveway leads to the RV gates. Fresh interior & exterior paint. Diagonally tile floors throughout. Open concept living. Formal dining. The beautiful eat-in kitchen has a plethora of cabinets, granite counters, SS appliances include a double oven gas range, subway tile backsplash. Laundry room has pantry shelving. Sizable bedrooms. The master has a 3/4 bath that includes a double vanity and tiled step-in shower. The backyard has a beautiful grey brick paver covered patio, synthetic lawn area, firepit/conversation area, above ground spa and beautiful foliage. Close to schools, shopping at PV Mall, dining and major freeways. No HOA!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cavalier Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k359k

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

Neighborhood: Cavalier Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Mercury Mine Elementary School Primary Regular 546 27 8
Mercury Mine Elementary School Middle Regular 546 27 8
Shadow Mountain High School High Regular 1,390 67 3

Mercury Mine Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Mercury Mine Elementary School

  • Education Level: Middle
  • # of students: 546
  • # of teachers: 27
8
GreatSchools Rating

Shadow Mountain High School

  • Education Level: High
  • # of students: 1,390
  • # of teachers: 67
3
GreatSchools Rating
 

$441,810$539,990$490,900

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 -$1,811
Property Tax -$309
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
-$408

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.

$490,900

PROJECTED PRICE

$1,870

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,839

INVESTMENT

$135,839

Down Payment
$122,725
Rehab Estimate
$5,750
Closing Costs
$7,364

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,725
Loan Amount $368,175
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,544

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
  • $1.16

    LIST RENT PER SQFT
  • $2,058

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8703$1,8954$2,2005$2,295
$2,295
RENT COMPS ANALYSIS
  • 3922 E Shangri La Road Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $1.16
    •  
  • 12215 N 36th Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1972
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.16
    •  
  • 3422 E Altadena Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1971
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.25
    •  
  • 4077 E Cholla Street Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1975
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.40
    •  
  • 4043 E Cholla Street Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1974
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.31
    •  
PROPERTY LISTING DETAILS
Eric Karlene
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167225
Last Updated: 12/05/2020
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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