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

5024 W Hobby Horse Drive Phoenix, AZ 85083

4 Beds 3 Baths 3,054 sqft Built 2006

$739,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $241.98
  • 3 Days on Market
  • MLS # : 6196602
  • Updated Date : 02/26/2021 at 02:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,054 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

This STETSON VALLEY SHOWSTOPPER is a must see! Gorgeous 1-story, 4BR + Den, 3 baths, 3-car gar is nestled in a quiet 14K+ CUL-DE-SAC LOT, adjacent to massive greenbelt. GENEROUS UPGRADES + 10ft ceilings thru-out, backyard oasis w/POOL, SPA + MTN VIEWS. Coffer ceiling, stack stone FP, custom barn doors + hardwood floors offer captivating charm. RENOVATED CHEF'S KITCHEN boasts soft close cabinets, roll-out shelves, GAS COOKTOP, double ovens, SS appliances + large island. Retreat to stunning master suite w/patio exit, 2 walk-in closets, UPDATED WALK-IN SHOWER, soaking tub + dual sinks. Enjoy EXCEPTIONAL OUTDOOR LIVING w/covered patio, hand laid travertine, built-in BBQ, cozy FP, firepit, desert landscaping, water fountain + 3 pergola areas for entertaining or a tranquil escape. You'll also...

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Stetson Valley

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k487k

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

Neighborhood: Stetson Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342160

* 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
Hillcrest Middle School Middle Regular 991 40 8
Sandra Day O'connor High School High Regular 2,481 108 6
Hillcrest Middle School Middle Unknown NA

Hillcrest Middle School

  • Education Level: Middle
  • # of students: 991
  • # of teachers: 40
8
GreatSchools Rating

Sandra Day O'connor High School

  • Education Level: High
  • # of students: 2,481
  • # of teachers: 108
6
GreatSchools Rating

Hillcrest Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$665,100$812,900$739,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$2,567
Property Tax -$442
Property Insurance -$87
HOA -$24
Property Management Fees -$99
CASH FLOW
-$809

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.

$739,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.6%
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$1.6M$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,585

INVESTMENT

$201,585

Down Payment
$184,750
Rehab Estimate
$5,750
Closing Costs
$11,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,567

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $184,750
Loan Amount $554,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,160

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,252

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,2504$2,2505$2,410
$2,410
RENT COMPS ANALYSIS
  • 5024 W Hobby Horse Drive Phoenix, AZ 5
    • 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.79
    •  
  • 5111 W El Cortez Trail Phoenix, AZ 1
    • 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2006
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.69
    •  
  • 5523 W Andrea Drive Phoenix, AZ 2
    • 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2007
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.71
    •  
  • 25619 N 51st Drive Phoenix, AZ 3
    • 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2006
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
  • 25043 N 44th Avenue Phoenix, AZ 4
    • 5 beds 3 baths ∙ 3,013 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,013 Sqft ∙ Built 2000
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.75
    •  
PROPERTY LISTING DETAILS
Sher Bowman
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6196602
Last Updated: 02/26/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

BESbswy