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501 E Caribbean Lane Phoenix, AZ 85022

4 Beds 2 Baths 2,225 sqft Built 1977

$480,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $215.73
  • 3 Days on Market
  • MLS # : 6162785
  • Updated Date : 11/21/2020 at 11:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,225 sqft
  • Baths : 2 full
Listing Agent

A.z. & Associates

Listing Agent's Description

Vaulted ceilings, new modern flooring, and designer accents, create an appealing backdrop for modern living. With a fireplace and hidden wet bar, the family room will serve as your hub of activity. Tired of the cookie cutters? Check out this terrific home on a over-sized lot. Zip right down 7th Street to the hot-spots on restaurant row, downtown Phoenix, and central destinations beyond. The shade of the covered patio is perfect cover for outdoor activities. The over-sized lot is a blank slate, and is ready for you to build what you desire.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Camino Verde

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $91k404k

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

Neighborhood: Camino Verde

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9342032

* 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
Lookout Mountain Elementary School Primary Regular 1,022 50 9
Lookout Mountain Elementary School Middle Regular 1,022 50 9
Thunderbird High School High Regular 1,507 63 6

Lookout Mountain Elementary School

  • Education Level: Primary
  • # of students: 1,022
  • # of teachers: 50
9
GreatSchools Rating

Lookout Mountain Elementary School

  • Education Level: Middle
  • # of students: 1,022
  • # of teachers: 50
9
GreatSchools Rating

Thunderbird High School

  • Education Level: High
  • # of students: 1,507
  • # of teachers: 63
6
GreatSchools Rating
 

$432,000$528,000$480,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,771
Property Tax -$286
Property Insurance -$71
Property Management Fees -$99
CASH FLOW
-$237

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.

$480,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.5%
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

PROJECTED ANNUAL CASH FLOW

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

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$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$14,479

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,041

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$2,0003$2,0954$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 501 E Caribbean Lane Phoenix, AZ 1
    • 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.89
    •  
  • 911 E Sandra Terrace Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,183 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,183 Sqft ∙ Built 1989
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.92
    •  
  • 101 W Kathleen Road Phoenix, AZ 3
    • 4 beds 2 baths ∙ 2,345 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,345 Sqft ∙ Built 1979
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.89
    •  
  • 15234 N 6th Street Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 1978
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 16009 N 7th Drive Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,261 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,261 Sqft ∙ Built 1991
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
PROPERTY LISTING DETAILS
Raquel Ariana Vidal
A.z. & Associates
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162785
Last Updated: 11/21/2020
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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