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4618 E Cortez Street Phoenix, AZ 85028

3 Beds 2 Baths 2,141 sqft Built 1981

$550,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $256.89
  • 2 Days on Market
  • MLS # : 6160078
  • Updated Date : 11/14/2020 at 02:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,141 sqft
  • Baths : 2 full
Listing Agent

Tru Realty

Listing Agent's Description

Welcome Home in time for the Holidays!!!Rare lot on the golf course in Village Fairways. Open kitchen with granite island and counters, stainless steel appliances, purified water, and a fabulous kitchen sink window. Wonderful VIEWS. Dual fireplace, formal dining area as well as living and family rooms with raised ceilings, and stone tile flooring throughout. 3 bedrooms, 2 bath, Split floor plan, master suite has walk in closet and walk out opening to back garden patio.Neat yard, several patio spaces including covered patio out sweeping glass doors to the back.Very walk-able and bike-able neighborhood in close proximity to shopping, restaurants, parks, and more.

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
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$2,029
Property Tax -$285
Property Insurance -$69
HOA -$103
Property Management Fees -$99
CASH FLOW
-$45

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.

$550,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.46%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$33,781

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $2,767

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,540
1$2,5402$2,5953$2,6954$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 4618 E Cortez Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $1.19
    •  
  • 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
    property image
    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
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.28
    •  
  • 5002 E Wethersfield Road Scottsdale, AZ 4
    • 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 1983
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.25
    •  
  • 11018 N 45th Street Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1973 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1973
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.43
    •  
PROPERTY LISTING DETAILS
Michelle Sharp
Tru Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160078
Last Updated: 11/14/2020
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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