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4342 E Abraham Lane Phoenix, AZ 85050

3 Beds 2 Baths 1,661 sqft Built 1997

$432,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $260.08
  • 7 Days on Market
  • MLS # : 6152975
  • Updated Date : 10/29/2020 at 09:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,661 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Phoenix one-story home offers granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k493k

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

Neighborhood: Desert Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9342794

* 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 Trails Elementary School Primary Regular 525 33 9
Explorer Middle School Middle Regular 883 35 10
Pinnacle High School High Regular 2,443 96 8

Desert Trails Elementary School

  • Education Level: Primary
  • # of students: 525
  • # of teachers: 33
9
GreatSchools Rating

Explorer Middle School

  • Education Level: Middle
  • # of students: 883
  • # of teachers: 35
10
GreatSchools Rating

Pinnacle High School

  • Education Level: High
  • # of students: 2,443
  • # of teachers: 96
8
GreatSchools Rating
 

$388,800$475,200$432,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,594
Property Tax -$272
Property Insurance -$60
HOA -$6
Property Management Fees -$99
CASH FLOW
$79

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.

$432,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.9%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$120,230

INVESTMENT

$120,230

Down Payment
$108,000
Rehab Estimate
$5,750
Closing Costs
$6,480

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,594

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,000
Loan Amount $324,000
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$38,248

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,109

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,0004$2,0955$2,110
$2,110
RENT COMPS ANALYSIS
  • 4342 E Abraham Lane Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.27
    •  
  • 4621 E Abraham Lane Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.30
    •  
  • 4528 E Mossman Road Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1998
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.32
    •  
  • 21642 N 44th Place Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1998
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.20
    •  
  • 21634 N 44th Place Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1998
    property image
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.26
    •  
PROPERTY LISTING DETAILS
Lisa Soltesz
Opendoor Brokerage, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152975
Last Updated: 10/29/2020
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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