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42 W Medlock Drive Phoenix, AZ 85013

3 Beds 2 Baths 1,567 sqft Built 1926

$475,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1926
  • Price/Sqft : $303.13
  • 4 Days on Market
  • MLS # : 6162186
  • Updated Date : 11/19/2020 at 06:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,567 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Tremendous opportunity to purchase a nearly original Transitional Ranch in the Medlock Place Historic District. Owned by the same family for 70 years, it retains its original charm including knotty pine paneling in the living and dining rooms. Huge (over 18,000 sq. ft.) lot with flood irrigation front and back. This is one of the hottest areas in Phoenix - it has proximity to many top restaurants, most within walking distance. It's a short walk to the light rail along Camelback Rd, and there's easy access to the Bridle Path on Central Avenue. There's great shopping and dining at Uptown Plaza, including A.J. 's grocery. This is an AS IS sale. Some changes to the property may require approval from the Phoenix Historic Preservation Office

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Medlock Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k374k

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

Neighborhood: Medlock Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342170

* 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
Madison Simis Elementary School Primary Regular 951 43 9
Madison Meadows Middle School Middle Regular 845 40 8
Central High School High Regular 2,251 136 3

Madison Simis Elementary School

  • Education Level: Primary
  • # of students: 951
  • # of teachers: 43
9
GreatSchools Rating

Madison Meadows Middle School

  • Education Level: Middle
  • # of students: 845
  • # of teachers: 40
8
GreatSchools Rating

Central High School

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

$427,500$522,500$475,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,753
Property Tax -$384
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$573

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.

$475,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$659

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
  • $1,755

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4503$1,495
$1,495
RENT COMPS ANALYSIS
  • 42 W Medlock Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1926
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1215 E Meadowbrook Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1946
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.10
    •  
  • 4618 N 12th Place #mh Phoenix, AZ 3
    • 3 beds 1 baths ∙ 1,315 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,315 Sqft ∙ Built 1946
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.14
    •  
PROPERTY LISTING DETAILS
Thomas P Bryant
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162186
Last Updated: 11/19/2020
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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