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4410 E Cortez Street Phoenix, AZ 85028

3 Beds 2 Baths 2,220 sqft Built 1981

$650,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $292.79
  • 1 Days on Market
  • MLS # : 6179198
  • Updated Date : 01/10/2021 at 02:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,220 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Welcome to your new home in Village Fairways! A comfortable home for you and yours but well able to accommodate your family and friends. The oversized paved stone patio presents even more opportunities for entertaining with amazing views of the golf course and lake. All thoughtfully and tastefully remodeled, the home exudes a quiet elegance. The kitchen has an abundance of upgraded cabinets, premier stainless steel appliances including double ovens, granite counter tops, a wet bar and wine cooler, and a long buffet for serving your guests. The 14' x 18' master suite features a beautifully remodeled shower and large walk-in closet. The HOA has tennis courts and gated access to a walking path. This fluid floorplan maximizes the breathtaking views from almost every room.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Village Fairways

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500kPrice in $91k507k

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

Neighborhood: Village Fairways

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9342294

* 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
Sequoya Elementary School Primary Regular 468 25 9
Cocopah Middle School Middle Regular 899 43 9
Chaparral High School High Regular 2,053 87 7

Sequoya Elementary School

  • Education Level: Primary
  • # of students: 468
  • # of teachers: 25
9
GreatSchools Rating

Cocopah Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 43
9
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,053
  • # of teachers: 87
7
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,258
Property Tax -$337
Property Insurance -$70
HOA -$103
Property Management Fees -$99
CASH FLOW
-$237

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.

$650,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.5%
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-$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$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$19,238

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
  • $3,014

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5953$2,6954$3,0005$3,175
$3,175
RENT COMPS ANALYSIS
  • 4410 E Cortez Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 2,220 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,220 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4151 E Hancock Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 2,144 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,144 Sqft ∙ Built 1995
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.21
    •  
  • 11048 N 42nd Place Phoenix, AZ 3
    • 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 1975 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 1975
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.28
    •  
  • 11018 N 45th Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1973 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1973
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.43
    •  
  • 4242 E Lupine Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,102 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,102 Sqft ∙ Built 1994
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,175
    • $1.51
    •  
PROPERTY LISTING DETAILS
Jill Ryan
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6179198
Last Updated: 01/10/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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