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3928 E Corrine Drive Phoenix, AZ 85032

3 Beds 2 Baths 1,770 sqft Built 1979

INVESTimate

$369,000

List Price

$1,570

$1,413 - $1,727

Rent Est.

$393,022  ( +6.51%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $208.47
  • 5 Days on Market
  • MLS # : 6119045
  • Updated Date : 08/24/2020 at 11:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,770 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Wonderful 3 bedroom, 2 bathroom Tri-level home that showcases true Pride of Ownership! Walking into the home you'll notice vaulted ceilings and tons of natural light that enhance the space! Throughout the home there is neutral tile and plush carpet that will compliment all of your furnishings. The great room and family room allow plenty of space for entertainment! Your beautiful kitchen features oak cabinets, durable countertops, stainless steel appliances that are only two years old and a pantry! Your split master bedroom features a French door entry, a walk-in closet and separate vanities in the master bath! Each of the additional bedrooms have plush carpet and ample closet space! Your backyard oasis is an entertainer's dream and features a large covered patio as well as a pebble tec

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Pleasant Valley Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Pleasant Valley Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
Desert Cove Elementary School Primary Regular 523 37 6
Desert Cove Elementary School Middle Regular 523 37 6
Shadow Mountain High School High Regular 1,390 67 3

Desert Cove Elementary School

  • Education Level: Primary
  • # of students: 523
  • # of teachers: 37
6
GreatSchools Rating

Desert Cove Elementary School

  • Education Level: Middle
  • # of students: 523
  • # of teachers: 37
6
GreatSchools Rating

Shadow Mountain High School

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

$332,100$405,900$369,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,361
Property Tax -$232
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$184

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.

$369,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.51%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$12,051

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,699

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5703$1,7494$1,8005$1,900
$1,900
RENT COMPS ANALYSIS
  • 3928 E Corrine Drive Phoenix, 2
    • 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.89
    •  
  • 3628 E Willow Avenue Phoenix, 1
    • 4 beds 2 baths ∙ 1,606 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,606 Sqft ∙ Built 1972
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 3770 E Pershing Avenue Phoenix, 3
    • 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 1972
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.92
    •  
  • 12629 N 33rd Street Phoenix, 4
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1973
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
  • 3511 E Dahlia Drive Phoenix, 5
    • 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 1972
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
PROPERTY LISTING DETAILS
George Laughton
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119045
Last Updated: 08/24/2020
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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