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5345 E Herrera Drive Phoenix, AZ 85054

3 Beds 3 Baths 3,250 sqft Built 2002

$975,000

List Price

$3,160

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $300.00
  • 5 Days on Market
  • MLS # : 6182877
  • Updated Date : 01/28/2021 at 16:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,250 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Owner's unexpected move is your good fortune - You will LOVE this gorgeous remodel in the gated community of Leroux Springs! Sellers spared no expense to transform this amazing semi-custom home! Huge private lot with extended covered patio and sparkling pool, several seating and lounge areas with north/south exposure. Window Blinds, Pool, Sprinklers, Lights, Security Cameras, Heating/Cooling, and Alarm all controlled via phone or tablet. Neutral decor and high end finishes throughout home. Sub zero refrigerator, 5-burner gas cooktop, new quartz counters, new paint and baseboards, surround sound, insulated interior walls, solid core doors. Split floorplan with guest wing features 2 bedrooms connected by Jack & Jill bath and a bonus room perfect for den, office or game room.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k493k

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

Neighborhood: Desert Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9342794

* 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
Explorer Middle School Middle Regular 883 35 10
Pinnacle High School High Regular 2,443 96 8

Explorer Middle School

  • Education Level: Middle
  • # of students: 883
  • # of teachers: 35
10
GreatSchools Rating

Pinnacle High School

  • Education Level: High
  • # of students: 2,443
  • # of teachers: 96
8
GreatSchools Rating
 

$877,500$1,072,500$975,000

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$3,387
Property Tax -$614
Property Insurance -$91
HOA -$32
Property Management Fees -$99
CASH FLOW
-$1,062

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.

$975,000

PROJECTED PRICE

$3,160

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.9%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$264,125

INVESTMENT

$264,125

Down Payment
$243,750
Rehab Estimate
$5,750
Closing Costs
$14,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,387

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $243,750
Loan Amount $731,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,494

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
  • $3,421

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,2953$3,3004$3,3505$3,495
$3,495
RENT COMPS ANALYSIS
  • 5345 E Herrera Drive Phoenix, AZ 1
    • 3 beds 3 baths ∙ 3,250 Sqft ∙ Built 2002 3 beds 3 baths ∙ 3,250 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 22809 N 39th Run Run Phoenix, AZ 2
    • 4 beds 4 baths ∙ 3,414 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,414 Sqft ∙ Built 2004
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $0.97
    •  
  • 22868 N 55th Street Phoenix, AZ 3
    • 3 beds 3 baths ∙ 2,946 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,946 Sqft ∙ Built 1998
    LEASED 08/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.12
    •  
  • 4719 E Robin Lane Phoenix, AZ 4
    • 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 1998
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.10
    •  
  • 22809 N 39th Run Phoenix, AZ 5
    • 4 beds 4 baths ∙ 3,414 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,414 Sqft ∙ Built 2004
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.02
    •  
PROPERTY LISTING DETAILS
Kimberley Doering
Redfin Corporation
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6182877
Last Updated: 01/28/2021
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.

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