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

4009 N 88th Lane Phoenix, AZ 85037

3 Beds 3 Baths 1,561 sqft Built 1990

INVESTimate

$240,000

List Price

$1,170

$1,053 - $1,287

Rent Est.

$271,176  ( +12.99%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $153.75
  • 6 Days on Market
  • MLS # : 6119407
  • Updated Date : 08/25/2020 at 22:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,561 sqft
  • Baths : 2 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

Don't miss out on this rare gem perfectly located in West Phoenix w/o HOA with a beautiful yard! This is the perfect starter home. It has tile throughout the house from the ample living room to the spacious dining room nook area and kitchen. The front exterior is welcoming with ample shade from mature trees and awning. Come take a look today as your next home is a doorstep away. The private backyard is an oasis featuring a nice water fall coming down a wash. The screened in area and shades provide plenty of room for entertainment! This one won't last as it is priced to sell!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Chaparral Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $68k271k

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

Neighborhood: Chaparral Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7201567

* 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
Pendergast Elementary School Primary Regular 784 33 3
Pendergast Elementary School Middle Regular 784 33 3
Copper Canyon High School High Regular 2,251 82 1

Pendergast Elementary School

  • Education Level: Primary
  • # of students: 784
  • # of teachers: 33
3
GreatSchools Rating

Pendergast Elementary School

  • Education Level: Middle
  • # of students: 784
  • # of teachers: 33
3
GreatSchools Rating

Copper Canyon High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 82
1
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,053$1,287$1,170

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$886
Property Tax -$148
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$20

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.

$240,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 12.99%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$15,497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,272

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2503$1,2604$1,3505$1,375
$1,375
RENT COMPS ANALYSIS
  • 4009 N 88th Lane Phoenix, 1
    • 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8614 W Campbell Avenue Phoenix, 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1998
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.83
    •  
  • 4216 N 86th Avenue Phoenix, 3
    • 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 1976
    property image
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.83
    •  
  • 8507 W Minnezona Avenue Phoenix, 4
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1996
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.80
    •  
  • 9233 W Mackenzie Drive Phoenix, 5
    • 4 beds 2 baths ∙ 1,724 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,724 Sqft ∙ Built 2001
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.80
    •  
PROPERTY LISTING DETAILS
Shereen Tawil
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119407
Last Updated: 08/25/2020
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