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4108 E Mitchell Drive Phoenix, AZ 85018

3 Beds 3 Baths 2,767 sqft Built 1954

$1,000,000

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $361.40
  • 3 Days on Market
  • MLS # : 6195847
  • Updated Date : 02/19/2021 at 16:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,767 sqft
  • Baths : 3 full
Listing Agent

Walt Danley Christie's International Real Estate

Listing Agent's Description

Completely remodeled contemporary Arcadia home. A true entertainers dream. No details have been spared, upgraded everything, from plumbing to electrical to cabinets to floors, nothing left untouched. Quartz countertops, upgraded appliaces, new roof. Stunning backyard, complete with pool and large cabana. Contemporary dream home in beautiful Arcadia neighborhood. Professional photos coming soon!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Camelback East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $91k307k

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

Neighborhood: Camelback East

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
Tavan Elementary School Primary Regular 718 43 5
Ingleside Middle School Middle Regular 772 33 7
Arcadia High School High Regular 1,731 72 5

Tavan Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 43
5
GreatSchools Rating

Ingleside Middle School

  • Education Level: Middle
  • # of students: 772
  • # of teachers: 33
7
GreatSchools Rating

Arcadia High School

  • Education Level: High
  • # of students: 1,731
  • # of teachers: 72
5
GreatSchools Rating
 

$900,000$1,100,000$1,000,000

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$3,473
Property Tax -$497
Property Insurance -$81
Property Management Fees -$99
CASH FLOW
-$1,131

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.

$1,000,000

PROJECTED PRICE

$3,020

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.7%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,750

INVESTMENT

$270,750

Down Payment
$250,000
Rehab Estimate
$5,750
Closing Costs
$15,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,473

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $250,000
Loan Amount $750,000
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,798

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $3,611

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$3,020
1$3,0202$3,2953$3,5004$3,6255$3,750
$3,750
RENT COMPS ANALYSIS
  • 4108 E Mitchell Drive Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,767 Sqft ∙ Built 1954 3 beds 3 baths ∙ 2,767 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $1.09
    •  
  • 4001 E Avalon Drive Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,739 Sqft ∙ Built 1952 4 beds 3 baths ∙ 2,739 Sqft ∙ Built 1952
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.20
    •  
  • 4601 E Exeter Boulevard Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,762 Sqft ∙ Built 1963 4 beds 3 baths ∙ 2,762 Sqft ∙ Built 1963
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.27
    •  
  • 5514 E Verde Lane Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1954 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1954
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,625
    • $1.38
    •  
  • 4540 E Heatherbrae Drive Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 1953 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 1953
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.37
    •  
PROPERTY LISTING DETAILS
Chase Colman
Walt Danley Christie's International Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6195847
Last Updated: 02/19/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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