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4738 N 24th Place Phoenix, AZ 85016

3 Beds 3 Baths 2,289 sqft Built 2015

$830,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $362.60
  • 43 Days on Market
  • MLS # : 6141885
  • Updated Date : 11/13/2020 at 12:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,289 sqft
  • Baths : 2 full , 1 half
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

LOCATION-LOCATION-LOCATION, this marvelous 3 bedroom home, built in 2015, is close to everything...world class Biltmore Shopping Complex, finest schools, best Restaurants, hiking, finest golf courses and a quick ride to Phoenix Airport. Conceived for year round residency or a superb winter home, what a wonderful place to entertain. Clean modern lines, vaulted ceilings and herringbone wood floors showcase the gourmet kitchen. The kitchen is equipped with marble countertops, GE Cafe appliances, gas range and Sharp microwave drawer. Extended glass sliding doors invite you from the spacious living area to the beautiful private backyard, pool and fire pit. The spacious master also offers an oversized walk-in closet, soaking tub, large double head shower and double vanities.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cavalier Campus

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Cavalier Campus

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Madison Camelview Elementary School Primary Regular 689 33 4
Madison Park Middle School Middle Regular 423 22 4
Camelback High School High Regular 2,048 110 4

Madison Camelview Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 33
4
GreatSchools Rating

Madison Park Middle School

  • Education Level: Middle
  • # of students: 423
  • # of teachers: 22
4
GreatSchools Rating

Camelback High School

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

$747,000$913,000$830,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$3,062
Property Tax -$597
Property Insurance -$69
Property Management Fees -$99
CASH FLOW
-$1,077

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.

$830,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.1%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$225,700

INVESTMENT

$225,700

Down Payment
$207,500
Rehab Estimate
$5,750
Closing Costs
$12,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $207,500
Loan Amount $622,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$499

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,986

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6983$2,8004$2,9505$2,995
$2,995
RENT COMPS ANALYSIS
  • 4738 N 24th Place Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,137 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,137 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4444 N 25th Street #40 Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 2018
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,698
    • $1.39
    •  
  • 2608 E Turney Avenue #10 Phoenix, AZ 3
    • 3 beds 4 baths ∙ 2,155 Sqft ∙ Built 2010 3 beds 4 baths ∙ 2,155 Sqft ∙ Built 2010
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.30
    •  
  • 4438 N 27th Street #13 Phoenix, AZ 4
    • 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 2017
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.47
    •  
  • 4444 N 25th Street #44 Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 2018
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.43
    •  
PROPERTY LISTING DETAILS
Kelly Jones
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6141885
Last Updated: 11/13/2020
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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