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525 E Willetta Street #5 Phoenix, AZ 85004

2 Beds 1 Baths 1,184 sqft Built 2008

$360,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $304.05
  • 2 Days on Market
  • MLS # : 6157539
  • Updated Date : 11/07/2020 at 18:17
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,184 sqft
  • Baths : 1 full
Listing Agent

Homie

Listing Agent's Description

Impressive modern townhouse designed by noted architect Michael Underhill. Enjoy loft-style living in vibrant downtown Phoenix! Ideally located just north of I-10 and close to theaters, museums and many hip restaurants. This fully-remodeled unit features concrete floors, sand-blasted block walls, exposed beams, solid maple doors, Kohler Stillness fixtures, Miele appliances and Caeserstone counters. High-end designer shades in every room. Beautiful backyard with outdoor shower!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Willetta

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $91k306k

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

Neighborhood: Willetta

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7951744

* 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
Emerson School Primary Regular 430 29 3
Emerson School Middle Regular 430 29 3
Central High School High Regular 2,251 136 3

Emerson School

  • Education Level: Primary
  • # of students: 430
  • # of teachers: 29
3
GreatSchools Rating

Emerson School

  • Education Level: Middle
  • # of students: 430
  • # of teachers: 29
3
GreatSchools Rating

Central High School

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

$324,000$396,000$360,000

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 -$1,328
Property Tax -$192
Property Insurance -$50
HOA -$200
Property Management Fees -$99
CASH FLOW
-$360

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$360,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 2.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,003

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
  • $1,613

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6853$1,6954$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 525 E Willetta Street #5 Phoenix, AZ 1
    • 2 beds 1 baths ∙ 1,184 Sqft ∙ Built 2008 2 beds 1 baths ∙ 1,184 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 615 E Portland Street #162 Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,288 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,288 Sqft ∙ Built 2004
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $1.31
    •  
  • 615 E Portland Street #179 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,238 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,238 Sqft ∙ Built 2004
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.37
    •  
  • 615 E Portland Street #253 Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,288 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,288 Sqft ∙ Built 2004
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.32
    •  
  • 615 E Portland Street #103 Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,238 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,238 Sqft ∙ Built 2004
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.45
    •  
PROPERTY LISTING DETAILS
Carole Hewitt
Homie
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157539
Last Updated: 11/07/2020
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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