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5550 N 16th Street #175 Phoenix, AZ 85016

2 Beds 2 Baths 1,248 sqft Built 2013

$379,900

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $304.41
  • 4 Days on Market
  • MLS # : 6201925
  • Updated Date : 03/05/2021 at 03:15
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,248 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Neighborhood: Camelback East Village. Community: Madison Place at Greer Manor. Home: 2 bed, 2 bath, end unit, second story, upscale townhome, w/ ground-floor exterior & 2-car garage entrances to interior stairway. Community features majestic palms & a year-round heated pool & spa. Updated and flooded with sunlight, this home includes durable, warm applewood-color scraped-finish Pergo Outlast(tm) flooring throughout the living spaces, ceramic tile in baths. Eat-in kitchen: wood cabinetry, granite, stainless appliances incl. refrigerator, a walk-in pantry, and pre-plumbed for a gas range. Dual-pane, low-E windows on three exterior walls and a balcony off the dining room. Contemporary ceiling fans in bedrooms & living room. Full-size W/D included.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Madison Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $86k358k

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

Neighborhood: Madison Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9342225

* 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
Madison Rose Lane School Primary Regular 815 43 7
North High School High Regular 2,616 128 5
Phoenix Coding Academy High Regular NA

Madison Rose Lane School

  • Education Level: Primary
  • # of students: 815
  • # of teachers: 43
7
GreatSchools Rating

North High School

  • Education Level: High
  • # of students: 2,616
  • # of teachers: 128
5
GreatSchools Rating

Phoenix Coding Academy

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

$341,910$417,890$379,900

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,320
Property Tax -$273
Property Insurance -$52
HOA -$235
Property Management Fees -$99
CASH FLOW
$32

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.

$379,900

PROJECTED PRICE

$2,010

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) -0.1%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$20,764

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $1.61

    LIST RENT PER SQFT
  • $1,847

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6504$1,8005$2,010
$2,010
RENT COMPS ANALYSIS
  • 5550 N 16th Street #175 Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,248 Sqft ∙ Built 2013 2 beds 2 baths ∙ 1,248 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $1.61
    •  
  • 1701 E Colter Street #127 Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,118 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,118 Sqft ∙ Built 2003
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.39
    •  
  • 5550 N 16th Street #167 Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,063 Sqft ∙ Built 2013 2 beds 2 baths ∙ 1,063 Sqft ∙ Built 2013
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.51
    •  
  • 1701 E Colter Street #402 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,118 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,118 Sqft ∙ Built 2003
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.48
    •  
  • 5550 N 16th Street #149 Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,167 Sqft ∙ Built 2013 2 beds 2 baths ∙ 1,167 Sqft ∙ Built 2013
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.54
    •  
PROPERTY LISTING DETAILS
Randy P Stopher
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6201925
Last Updated: 03/05/2021
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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