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42422 N 7th Street Phoenix, AZ 85086

4 Beds 4 Baths 3,400 sqft Built 2004

$675,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $198.53
  • 5 Days on Market
  • MLS # : 6159220
  • Updated Date : 11/14/2020 at 13:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,400 sqft
  • Baths : 4 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

Extraordinary custom home in the Desert Hills Circle Mountain area. Elevated homesite with mountain views and views of the surrounding area. This home has a large great room with an office and a second master in the main house. Additionally a separate casita with two bedrooms and two 3/4 baths accomodates guests or permanent family members. There is a three car oversized garage and many additional features. What a most liveable and exciting home.PLEASE NOTE: There is an alarm activated. Showing time will include alarm code with confirmation appointment Please consider Pioneer Title Agency. Kristine Delany 602-615-3724 kristine.delany@ptaaz.com.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: New River

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k371k

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

Neighborhood: New River

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9342423

* 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
New River Elementary School Primary Regular 275 21 6
New River Elementary School Middle Regular 275 21 6
Boulder Creek High School High Regular 2,639 105 6

New River Elementary School

  • Education Level: Primary
  • # of students: 275
  • # of teachers: 21
6
GreatSchools Rating

New River Elementary School

  • Education Level: Middle
  • # of students: 275
  • # of teachers: 21
6
GreatSchools Rating

Boulder Creek High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 105
6
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$2,490
Property Tax -$526
Property Insurance -$93
Property Management Fees -$99
CASH FLOW
-$479

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.

$675,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.5%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$10,160

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
  • $3,205

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9503$3,0004$3,3955$3,500
$3,500
RENT COMPS ANALYSIS
  • 42422 N 7th Street Phoenix, AZ 1
    • 4 beds 4 baths ∙ 3,400 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,400 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 40924 N Lambert Trail Phoenix, AZ 2
    • 4 beds 4 baths ∙ 3,304 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,304 Sqft ∙ Built 2004
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.89
    •  
  • 41904 N Alistair Way Anthem, AZ 3
    • 5 beds 5 baths ∙ 3,168 Sqft ∙ Built 2005 5 beds 5 baths ∙ 3,168 Sqft ∙ Built 2005
    LEASED 08/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.95
    •  
  • 41812 N La Cantera Drive Phoenix, AZ 4
    • 4 beds 4 baths ∙ 3,437 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,437 Sqft ∙ Built 2005
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $0.99
    •  
  • 41911 N La Crosse Trail Anthem, AZ 5
    • 3 beds 4 baths ∙ 3,711 Sqft ∙ Built 2005 3 beds 4 baths ∙ 3,711 Sqft ∙ Built 2005
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.94
    •  
PROPERTY LISTING DETAILS
Joseph C Thompson
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159220
Last Updated: 11/14/2020
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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