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4616 E Michelle Drive Phoenix, AZ 85032

4 Beds 3 Baths 2,252 sqft Built 1992

$499,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $221.58
  • 5 Days on Market
  • MLS # : 6208515
  • Updated Date : 03/18/2021 at 17:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,252 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Great home in highly coveted Tatum Heights subdivision in the heart of Phoenix with easy access to the 51, Scottsdale, Desert Ridge and so much more. 4 bedroom, 2.5 bath with an open concept kitchen, dining, living room, family room, large laundry, 2 garage with room for storage, Pebble Tec pool and a yard, N/S exposure. With a recently renovated kitchen with new cabinets, granite countertops, GE appliances, a spacious pantry and newer laminate floors and updated primary bath, new roof in 2014 and even a 220 volt in garage for charging an electric car, this home is ready to move in! Backyard has been beautifully updated with turf and travertine, making it an entertainer's dream! Very short distance from community area with grass field and neighborhood park.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Tatum Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k353k

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

Neighborhood: Tatum Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9341737

* 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
Sunrise Middle School Middle Regular 492 23 7
Paradise Valley High School High Regular 1,806 99 5
Sunrise Middle School Middle Unknown NA

Sunrise Middle School

  • Education Level: Middle
  • # of students: 492
  • # of teachers: 23
7
GreatSchools Rating

Paradise Valley High School

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

Sunrise Middle School

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

$449,100$548,900$499,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,733
Property Tax -$314
Property Insurance -$71
HOA -$14
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 14% of earned rent to cover both maintenance and periods of vacancy.

$499,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$37,536

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,517

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,3003$2,3104$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 4616 E Michelle Drive Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.03
    •  
  • 4556 E Charleston Avenue Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 1991 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 1991
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.09
    •  
  • 4386 E Selena Drive Phoenix, AZ 2
    • 3 beds 3 baths ∙ 2,171 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,171 Sqft ∙ Built 2007
    LEASED 03/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.06
    •  
  • 5112 E Villa Rita Drive Scottsdale, AZ 4
    • 4 beds 2 baths ∙ 2,426 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,426 Sqft ∙ Built 1998
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.07
    •  
  • 4432 E Anderson Drive Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,245 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,245 Sqft ∙ Built 1994
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.25
    •  
PROPERTY LISTING DETAILS
Mary King
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6208515
Last Updated: 03/18/2021
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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