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4429 W Lewis Avenue Phoenix, AZ 85035

3 Beds 2 Baths 1,638 sqft Built 1982

$259,900

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $158.67
  • 2 Days on Market
  • MLS # : 6193158
  • Updated Date : 03/13/2021 at 23:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,638 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

This 1638SF home features 3 bedrooms, 2 baths, covered patio, block fence, RV gate and 2C carport on a large SF 7100 lot. There are ceiling fans throughout. There is a large eat in kitchen and huge family room. Ceramic tile everywhere except bedrooms. No interior steps. New ac in 2017. Updated kitchen in 2020; updated bathrooms in 2020. Landscaping ready for your imagination to make it beautiful. Convenient location close to schools, Grand Canyon College and Freeways. No HOA. This home has tons of potential and is waiting for that special buyer to make it their own! Hurry! The house has been priced to sell quickly.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Encanto Meadows

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $79k271k

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

Neighborhood: Encanto Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6831567

* 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
Joseph Zito Elementary School Primary Regular 703 37 2
Maryvale High School High Regular 2,948 132 2
Phoenix Coding Academy High Regular NA

Joseph Zito Elementary School

  • Education Level: Primary
  • # of students: 703
  • # of teachers: 37
2
GreatSchools Rating

Maryvale High School

  • Education Level: High
  • # of students: 2,948
  • # of teachers: 132
2
GreatSchools Rating

Phoenix Coding Academy

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

$233,910$285,890$259,900

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$903
Property Tax -$140
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
$29

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.

$259,900

PROJECTED PRICE

$1,230

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$18,100

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,503

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,2453$1,3254$1,3495$1,500
$1,500
RENT COMPS ANALYSIS
  • 4429 W Lewis Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.75
    •  
  • 2629 N 49th Drive Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,329 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,329 Sqft ∙ Built 1962
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.94
    •  
  • 5525 W Roanoke Avenue Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 1969 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 1969
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.92
    •  
  • 5222 W Cypress Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 1972
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.90
    •  
  • 5631 W Berkeley Road Phoenix, AZ 5
    • 4 beds 3 baths ∙ 1,640 Sqft ∙ Built 1970 4 beds 3 baths ∙ 1,640 Sqft ∙ Built 1970
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jesus Pino Perez
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193158
Last Updated: 03/13/2021
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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