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503 N 40th Avenue Phoenix, AZ 85009

5 Beds 3 Baths 1,989 sqft Built 1946

$475,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1946
  • Price/Sqft : $238.81
  • 66 Days on Market
  • MLS # : 6153905
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,989 sqft
  • Baths : 2 full , 1 half
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Fully fenced horse property in Phoenix is now available! This home features green grass at the front, plenty of slab parking, and RV parking. Inside the main house you will find 3 bedrooms and 2 bathrooms, a spacious living areas, an ample kitchen, fireplace and balcony. in the guest house, you will find 2 additional bedrooms, and one bathroom wit its own kitchen and living room! The expansive backyard offers a fenced pool, covered lounging area, and lots of possibilities to be personalize. Don't miss out on this incredible deal! You must see it! Call to book a showing today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Estrella

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $82k271k

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

Neighborhood: Estrella

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8031567

* 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
Moya Elementary School Primary Regular 537 28 2
Morris K. Udall School Middle Regular 628 28 2
Carl Hayden High School High Regular 2,080 116 3

Moya Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 28
2
GreatSchools Rating

Morris K. Udall School

  • Education Level: Middle
  • # of students: 628
  • # of teachers: 28
2
GreatSchools Rating

Carl Hayden High School

  • Education Level: High
  • # of students: 2,080
  • # of teachers: 116
3
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,650
Property Tax -$257
Property Insurance -$66
Property Management Fees -$99
CASH FLOW
-$561

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.

$475,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$568

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,631

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,510
$1,510
RENT COMPS ANALYSIS
  • 503 N 40th Avenue Phoenix, AZ 2
    • 5 beds 3 baths ∙ 1,989 Sqft ∙ Built 1946 5 beds 3 baths ∙ 1,989 Sqft ∙ Built 1946
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.76
    •  
  • 2028 N 38th Avenue Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1954
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.82
    •  
PROPERTY LISTING DETAILS
Adam Prather
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6153905
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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