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

505 W Virginia Avenue Phoenix, AZ 85003

4 Beds 3 Baths 1,714 sqft Built 1945

$595,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1945
  • Price/Sqft : $347.14
  • 43 Days on Market
  • MLS # : 6135183
  • Updated Date : 11/21/2020 at 17:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,714 sqft
  • Baths : 3 full
Listing Agent

Arizona Lifestyle Realty

Listing Agent's Description

GREAT HOUSE IN THE WILLO HISTORIC DISTRICT! Restoring original finished concrete floors in large living room w/crown molding, formal dining room w/built in niches. Original casement windows.Family room w/Travertine floors & French doors going into a nice covered patio & backyard. Vantage bathroom w/Teal color in great condition-separated shower & tub. Replaced sewer line w/permit.Detached Casita w/kitchenette, bathroom and central A/C.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Wilshire Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k441k

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

Neighborhood: Wilshire Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9301981

* 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
Kenilworth School Primary Regular 591 27 4
Kenilworth School Middle Regular 591 27 4
Central High School High Regular 2,251 136 3

Kenilworth School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 27
4
GreatSchools Rating

Kenilworth School

  • Education Level: Middle
  • # of students: 591
  • # of teachers: 27
4
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
GreatSchools Rating
 

$535,500$654,500$595,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$2,195
Property Tax -$318
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
-$782

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.

$595,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$429

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
  • $1,928

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7503$1,7954$1,8905$2,100
$2,100
RENT COMPS ANALYSIS
  • 505 W Virginia Avenue Phoenix, AZ 1
    • 4 beds 3 baths ∙ 1,714 Sqft ∙ Built 1945 4 beds 3 baths ∙ 1,714 Sqft ∙ Built 1945
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 70 E Ashland Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1940
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 351 E Thomas Road #d101 Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1960
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.11
    •  
  • 437 W Mulberry Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 1955
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $1.07
    •  
  • 1609 W Vernon Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1940
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.26
    •  
PROPERTY LISTING DETAILS
Martha Zabala
Arizona Lifestyle Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6135183
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.

BESbswy