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525 W Michelle Drive Phoenix, AZ 85023

4 Beds 2 Baths 2,088 sqft Built 1996

$465,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $222.70
  • 3 Days on Market
  • MLS # : 6162886
  • Updated Date : 11/20/2020 at 09:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,088 sqft
  • Baths : 2 full
Listing Agent

Ferris Realty

Listing Agent's Description

Wow!!! Fully paid for electric Solar system, Tankless water heater, Central vacuum, Sky lights, Vaulted ceilings, Windows with Security screens (west side of home), Trash compactor, Huge cover patio, BBQ Island, Diving pool with diving board, in ground Spa, Tuff shed, Snap lock Garage floor, Built in Garage cabinets, Huge yard, Front door Security screen and entry, Fireplace in family room, Owners suite with Tub, and Shower, double sink vanity, and, walk in closet, There are so many cool features you must check this out Today.! 4th bedroom is currently a double door den/office.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arroyo Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $91k306k

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

Neighborhood: Arroyo Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
Cactus View Elementary School Primary Regular 712 41 4
Cactus View Elementary School Middle Regular 712 41 4
North Canyon High School High Regular 1,957 86 4

Cactus View Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 41
4
GreatSchools Rating

Cactus View Elementary School

  • Education Level: Middle
  • # of students: 712
  • # of teachers: 41
4
GreatSchools Rating

North Canyon High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 86
4
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,716
Property Tax -$293
Property Insurance -$68
HOA -$3
Property Management Fees -$99
CASH FLOW
-$388

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.

$465,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.9%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,127

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,916

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7903$1,8004$1,8505$2,100
$2,100
RENT COMPS ANALYSIS
  • 525 W Michelle Drive Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.86
    •  
  • 1005 W Danbury Road Phoenix, AZ 1
    • 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1978
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.85
    •  
  • 405 W Campo Bello Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 2,066 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,066 Sqft ∙ Built 1995
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
  • 1121 W Michigan Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2006
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
  • 240 E Muriel Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 1980
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
PROPERTY LISTING DETAILS
Edward G Ferris
Ferris Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162886
Last Updated: 11/20/2020
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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