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5424 S 16th Place Phoenix, AZ 85040

5 Beds 3 Baths 2,903 sqft Built 2017

$425,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $146.40
  • 3 Days on Market
  • MLS # : 6199756
  • Updated Date : 02/26/2021 at 20:47
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,903 sqft
  • Baths : 3 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Welcome to your new two story 5 bedroom 3 bathroom home located in the beautiful Santiago gated community in Phoenix! Pulling up to the home you are greeted with immaculate desert landscaping, mature trees, a large lot, and excellent curb appeal that invites you in. Stepping into the home you are welcomed by a spacious floor plan that allows plenty of room for friends and family gatherings, modern updates throughout, neutral-toned paint with some gorgeous pops of color, tiled flooring in all the right places, an upstairs loft that can be used as an in-home office or playroom, and tons of natural lighting. Your eat-in kitchen showcases ample cabinet space, an island with a breakfast bar that looks over your spacious great room, granite countertops, stainless steel appliances, a large pantry

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
South Mountain High School High Regular 1,706 102 2
Phoenix Coding Academy High Unknown NA
Phoenix Coding Academy High Regular NA

South Mountain High School

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

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,476
Property Tax -$276
Property Insurance -$84
Property Management Fees -$99
CASH FLOW
$5

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.

$425,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.46%

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$1.6M$1.8M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$25,230

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,119

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$2,2003$2,275
$2,275
RENT COMPS ANALYSIS
  • 5424 S 16th Place Phoenix, AZ 1
    • 5 beds 3 baths ∙ 2,903 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,903 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.67
    •  
  • 2353 E Bowker Street Phoenix, AZ 2
    • 4 beds 3 baths ∙ 3,073 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,073 Sqft ∙ Built 2006
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 5316 S 23rd Way Phoenix, AZ 3
    • 4 beds 3 baths ∙ 3,073 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,073 Sqft ∙ Built 2006
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.74
    •  
PROPERTY LISTING DETAILS
George Laughton
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199756
Last Updated: 02/26/2021
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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