Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4629 E Carter Drive Phoenix, AZ 85042

4 Beds 2 Baths 1,534 sqft Built 1978

$295,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $192.31
  • 5 Days on Market
  • MLS # : 6154045
  • Updated Date : 10/30/2020 at 20:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,534 sqft
  • Baths : 2 full
Listing Agent

Hunt Real Estate Era

Listing Agent's Description

Beautifully updated 4bed/2bath ranch style home with RV gates. Gray tiled floors throughout the home. Gray and white color palette. Kitchen has maple cabinets, granite counters, and SS appliances. Laundry is off the kitchen. Generous sized bedrooms. Master has a full bath and walk-in closet. The backyard has a covered patio and a fenced sparkling pool. Easy access to schools, shopping and major freeways. No HOA! Make this gem your new home today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Knoell Garden Groves

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $78k271k

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

Neighborhood: Knoell Garden Groves

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7941567

* 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
Frank Elementary School Primary Regular 565 35 1
Fees College Preparatory Middle School Middle Regular 925 59 4
Mountain Pointe High School High Regular 2,685 111 3

Frank Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 35
1
GreatSchools Rating

Fees College Preparatory Middle School

  • Education Level: Middle
  • # of students: 925
  • # of teachers: 59
4
GreatSchools Rating

Mountain Pointe High School

  • Education Level: High
  • # of students: 2,685
  • # of teachers: 111
3
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,088
Property Tax -$142
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
$94

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.

$295,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.4%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$31,984

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,599

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,4503$1,4804$1,4955$1,695
$1,695
RENT COMPS ANALYSIS
  • 4629 E Carter Drive Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.96
    •  
  • 2231 W Fremont Drive Tempe, AZ 1
    • 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 1974
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 4434 E Hidalgo Avenue Phoenix, AZ 2
    • 4 beds 3 baths ∙ 1,452 Sqft ∙ Built 1975 4 beds 3 baths ∙ 1,452 Sqft ∙ Built 1975
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 4507 E Wayland Road Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1978
    property image
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 2126 W Hermosa Drive Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1978
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.14
    •  
PROPERTY LISTING DETAILS
Veronica Angeles
Hunt Real Estate Era
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154045
Last Updated: 10/30/2020
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.

BESbswy