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4343 E Morrow Drive Phoenix, AZ 85050

3 Beds 2 Baths 1,561 sqft Built 1990

$375,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $240.23
  • 5 Days on Market
  • MLS # : 6191162
  • Updated Date : 02/14/2021 at 00:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,561 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

Such a pretty home! Great location! A short distance to Desert Ridge, the 51 & loop 101, and so much more! Charming 3 bed 2 bath home has vaulted ceilings, soft color palette. Carpet & tile in all the right places. Open concept floor plan. The family room has a cozy wood-burning fireplace. Formal dining. The eat-in kitchen has a bay window dining area, white cabinets, granite slab countertops, black appliances, and pantry. All bedrooms have plush carpeting, ceiling fans, and walk-in closets. The primary bedroom has a private entrance, full bath and walk-in closet. The backyard has a Saltillo tiled patio, mature foliage, and low-maintenance landscaping. Inside laundry. Two car attached garage opens to kitchen.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rosewood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Rosewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Vista Verde Middle School Middle Regular 637 31 4
Paradise Valley High School High Regular 1,806 99 5
Paradise Valley High School High Unknown NA

Vista Verde Middle School

  • Education Level: Middle
  • # of students: 637
  • # of teachers: 31
4
GreatSchools Rating

Paradise Valley High School

  • Education Level: High
  • # of students: 1,806
  • # of teachers: 99
5
GreatSchools Rating

Paradise Valley High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,303
Property Tax -$236
Property Insurance -$58
HOA -$1
Property Management Fees -$99
CASH FLOW
$63

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.

$375,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.9%
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

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$26,917

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,768

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7003$1,7604$1,8005$1,925
$1,925
RENT COMPS ANALYSIS
  • 4343 E Morrow Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.13
    •  
  • 4368 E Rosemonte Drive Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 2007
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.06
    •  
  • 4238 E Morrow Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1990
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.09
    •  
  • 18834 N 43rd Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1991
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.18
    •  
  • 4375 E Morrow Drive Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 2007
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.20
    •  
PROPERTY LISTING DETAILS
Donna Cilley
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6191162
Last Updated: 02/14/2021
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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