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4668 N 40th Street Phoenix, AZ 85018

2 Beds 2 Baths 1,869 sqft Built 1973

$699,000

List Price

$2,830

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $374.00
  • 4 Days on Market
  • MLS # : 6178071
  • Updated Date : 01/09/2021 at 16:38
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,869 sqft
  • Baths : 2 full
Listing Agent

Azarchitecture/jarson & Jarson

Listing Agent's Description

Stunning PERFECT contemporary gem by Iconic MidCentury Architect Alfred Newman Beadle. Special from gated entrance over wooden bridge & ponds to the sculpture garden & pool turning residents to friends. Minutes to LGO, Postino's, INGO & all Camelback/Biltmore. Lightsome townhome greets you w/full size Al Beadle Courtyard Gate beckoning you in. Entire walls of glass & steel windows & doors set the tone for the BEST of AZ Living In-Out. The volume inside the created spaces w/lofts and light is exceptional. 2 ample sized bedrooms w/closet systems fully renovated baths PLUS a huge office/loft or convertible 3rd bed offer many options. Every inch remodeled to bring this architectural gem future forward. New Euro Kitchen, Roof, HVAC, Flooring, Oversized Yard w/room for Pool/Spa & - SEE MORE ...

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Bridgewood North

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500k550kPrice in $91k581k

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

Neighborhood: Bridgewood North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $9343134

* 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
Biltmore Preparatory Academy Primary Regular 476 30 7
Biltmore Preparatory Academy Middle Regular 476 30 7
Camelback High School High Regular 2,048 110 4

Biltmore Preparatory Academy

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 30
7
GreatSchools Rating

Biltmore Preparatory Academy

  • Education Level: Middle
  • # of students: 476
  • # of teachers: 30
7
GreatSchools Rating

Camelback High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 110
4
GreatSchools Rating
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,547$3,113$2,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,830
EXPENSES Loan Payment -$2,428
Property Tax -$443
Property Insurance -$64
HOA -$425
Property Management Fees -$99
CASH FLOW
-$629

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.

$699,000

PROJECTED PRICE

$2,830

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 8.5%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$2,197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,830

    LIST RENT
  • $1.51

    LIST RENT PER SQFT
  • $3,187

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,8303$3,000
$3,000
RENT COMPS ANALYSIS
  • 4668 N 40th Street Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,869 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,869 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,830
    • $1.51
    •  
  • 3015 E Coolidge Street #5 Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,634 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,634 Sqft ∙ Built 1988
    LEASED 11/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.62
    •  
  • 3052 E Claremont Avenue Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,675 Sqft ∙ Built 1980 2 beds 2 baths ∙ 1,675 Sqft ∙ Built 1980
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.79
    •  
PROPERTY LISTING DETAILS
Scott A Jarson
Azarchitecture/jarson & Jarson
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178071
Last Updated: 01/09/2021
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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