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PROPERTY INFO
FACTS
- Single Family
- Built In 1934
- Price/Sqft : $400.00
- 56 Days on Market
- MLS # : 6174099
- Updated Date : 02/19/2021 at 23:19
CONSTRUCTION
- Beds : 2
- Floor Size : 700 sqft
- Baths : 1 full
Listing Agent
The Melcher Agency
Listing Agent's Description
Classic 1930's cottage, the front house (A) is a two bedroom, one bath unit. The adjacent house (B) is a one bedroom and one bath. Each unit has their own utilities. Can be used as an Air BNB or a long term rental or a mother-in-law space. The living room in front house unit a has a large picture window that allows lots of light and wonderful mountain views. The kitchen features white washed cabinets and granite countertops. Both bedrooms have beige carpet, ceiling fans and are light and airy. The Arizona room hosts the washer/dryer and hot water heater, with concrete floors and storage cabinets. There is a covered patio, large back yard, a 2 car carport and a large storage shed. Rear house (B) has tiled floors throughout and a large picture window and ceiling fan.
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PRICE & RENT TRENDS
Neighborhood: Tengen Place
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Tengen Place
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $900 |
| EXPENSES | Loan Payment | -$973 |
| Property Tax | -$167 | |
| Property Insurance | -$41 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$379
|
||
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.
$280,000
PROJECTED PRICE
$900
PROJECTED RENT
0.32%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.32% |
| Appreciation Year (1-5) | 7.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.56% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$79,950
LOAN DETAILS
$973
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $70,000 |
| Loan Amount | $210,000 |
0.25
YEARS SAVED
$96
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$900
LIST RENT -
$1.29
LIST RENT PER SQFT
-
$924
COMP ESTIMATED VALUE -
$1.32
COMP AVG. RENT PER SQFT
Comps Range
-
501 E Vogel Avenue Phoenix, AZ 2
- 2 beds 1 baths ∙ 700 Sqft ∙ Built 1934 2 beds 1 baths ∙ 700 Sqft ∙ Built 1934
- Rent
- Rent Per SQFT
- $900
- $1.29
-
1521 E Sunnyside Drive #a Phoenix, AZ 1
- 2 beds 1 baths ∙ 601 Sqft ∙ Built 1949 2 beds 1 baths ∙ 601 Sqft ∙ Built 1949
LEASED 01/31/20- Rent
- Rent Per SQFT
- $795
- $1.32
-
8838 N 2nd Street Phoenix, AZ 3
- 2 beds 2 baths ∙ 905 Sqft ∙ Built 1952 2 beds 2 baths ∙ 905 Sqft ∙ Built 1952
LEASED 08/26/19- Rent
- Rent Per SQFT
- $1,195
- $1.32
PROPERTY LISTING DETAILS
The Melcher Agency
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6174099
Last Updated: 02/19/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
