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5508 W Parsons Road Phoenix, AZ 85083

4 Beds 4 Baths 3,090 sqft Built 2006

$675,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $218.45
  • 2 Days on Market
  • MLS # : 6168064
  • Updated Date : 12/05/2020 at 12:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,090 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Prestigious Stetson Valley, premium lot neighborhood with only single story homes and mountain views! Beautiful 4 bedroom, 3.5 bath, 3 car Upgraded 4' Extended garage with custom cabinets, overhead storage and custom flooring. This home has almost every imaginable upgrade to include OWNED SOLAR PANELS. Average monthly electric bill is under $100! Desert landscaped front yard with Joshua tree, custom planter's, and a paver walkway to the beautiful archway entry with custom wrought iron and wood doors. Interior of the home has custom plantation shutters on all but two view windows, 7'' crown molding, and all bedrooms plus front living room have beautiful ceramic wood hand scraped look tile floors and the remaining floors are upgraded 16'' tile flooring. NO Carpet! Home features a superb

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Stetson Valley

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k487k

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

Neighborhood: Stetson Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9342160

* 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
Las Brisas Elementary School Primary Regular 834 44 8
Hillcrest Middle School Middle Regular 991 40 8
Sandra Day O'connor High School High Regular 2,481 108 6

Las Brisas Elementary School

  • Education Level: Primary
  • # of students: 834
  • # of teachers: 44
8
GreatSchools Rating

Hillcrest Middle School

  • Education Level: Middle
  • # of students: 991
  • # of teachers: 40
8
GreatSchools Rating

Sandra Day O'connor High School

  • Education Level: High
  • # of students: 2,481
  • # of teachers: 108
6
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$2,490
Property Tax -$404
Property Insurance -$87
HOA -$32
Property Management Fees -$99
CASH FLOW
-$783

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.

$675,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.6%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,345

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,318

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,2504$2,2505$2,330
$2,330
RENT COMPS ANALYSIS
  • 5508 W Parsons Road Phoenix, AZ 5
    • 4 beds 4 baths ∙ 3,090 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,090 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.75
    •  
  • 5111 W El Cortez Trail Phoenix, AZ 1
    • 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2006
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.69
    •  
  • 5523 W Andrea Drive Phoenix, AZ 2
    • 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2007
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.71
    •  
  • 5227 W El Cortez Trail Phoenix, AZ 3
    • 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2006
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
  • 25619 N 51st Drive Phoenix, AZ 4
    • 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2006
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
PROPERTY LISTING DETAILS
Brenda Miertschin
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6168064
Last Updated: 12/05/2020
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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