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5418 S 23rd Way Phoenix, AZ 85040

5 Beds 4 Baths 2,476 sqft Built 2006

$359,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $144.99
  • 3 Days on Market
  • MLS # : 6159903
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,476 sqft
  • Baths : 3 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

If you enjoy the warmth of a cozy setting and would like to live close to the center of the city, this is the ideal home! This Home includes a Mother-in-law suite and a small courtyard for family gatherings. The expansive kitchen and oversized cabinets provide enough storage space for those who love to cook. Complete with a fresh and popular paint design. The first floor includes space that can be used as an office or piano practice room. On the second floor there is a large activity area where you can watch TV, entertain and relax, or have a fun environment for children. The master room has an incredible amount of space and a small area that can be used as a study room or a gym. All three bedrooms are large and comfortable, ensuring that each family member has their own private space.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: South Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: South Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7291567

* 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
T.g. Barr School Primary Regular 516 29 2
T.g. Barr School Middle Regular 516 29 2
South Mountain High School High Regular 1,706 102 2

T.g. Barr School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 29
2
GreatSchools Rating

T.g. Barr School

  • Education Level: Middle
  • # of students: 516
  • # of teachers: 29
2
GreatSchools Rating

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,325
Property Tax -$233
Property Insurance -$75
HOA -$77
Property Management Fees -$99
CASH FLOW
-$59

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.

$359,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.9%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$19,214

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,956

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8504$1,9505$1,975
$1,975
RENT COMPS ANALYSIS
  • 5418 S 23rd Way Phoenix, AZ 1
    • 5 beds 4 baths ∙ 2,476 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,476 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.71
    •  
  • 7430 S 27th Way Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 2011
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
  • 5216 S 16th Place Phoenix, AZ 3
    • 4 beds 4 baths ∙ 2,247 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,247 Sqft ∙ Built 2018
    property image
    LEASED 06/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 6846 S 26th Place Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2000
    property image
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
  • 2639 E Darrel Road Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2000
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.78
    •  
PROPERTY LISTING DETAILS
Helen Zhang
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159903
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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