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5606 W Pierson Street Phoenix, AZ 85031

5 Beds 3 Baths 2,111 sqft Built 1957

$230,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $108.95
  • 2 Days on Market
  • MLS # : 6160169
  • Updated Date : 11/14/2020 at 02:15
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,111 sqft
  • Baths : 3 full
Listing Agent

A.z. & Associates

Listing Agent's Description

You get 2 for the price of 1 with this fantastic property. The main property has 3 spacious bedrooms & 2 baths. There is a guest home with 1 bed, 1 bath, and its own kitchen & living room. Great rental opportunity or space for the in-laws. Neutral color paint throughout. The main kitchen offers granite countertops, upgraded cabinets, and tile backsplash. Cozy back yard with covered patio & plenty of room to relax or entertain. Only minutes from the I-10 and the I-17. Don't miss out on this beauty. It won't last long on the market!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k271k

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

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6831567

* 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
John F. Long Elementary School Primary Regular 866 40 3
Marc T. Atkinson Middle School Middle Regular 1,376 65 3
Maryvale High School High Regular 2,948 132 2

John F. Long Elementary School

  • Education Level: Primary
  • # of students: 866
  • # of teachers: 40
3
GreatSchools Rating

Marc T. Atkinson Middle School

  • Education Level: Middle
  • # of students: 1,376
  • # of teachers: 65
3
GreatSchools Rating

Maryvale High School

  • Education Level: High
  • # of students: 2,948
  • # of teachers: 132
2
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$849
Property Tax -$139
Property Insurance -$68
Property Management Fees -$99
CASH FLOW
$146

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.

$230,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 13.8%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$32,076

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,457

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3003$1,3994$1,3995$1,445
$1,445
RENT COMPS ANALYSIS
  • 5606 W Pierson Street Phoenix, AZ 2
    • 5 beds 3 baths ∙ 2,111 Sqft ∙ Built 1957 5 beds 3 baths ∙ 2,111 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.62
    •  
  • 5361 N 61st Avenue Glendale, AZ 1
    • 4 beds 3 baths ∙ 1,791 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,791 Sqft ∙ Built 1959
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.70
    •  
  • 6124 W Oregon Avenue Glendale, AZ 3
    • 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 1959
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.73
    •  
  • 5808 W Rosewood Lane Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,167 Sqft ∙ Built 1957 4 beds 3 baths ∙ 2,167 Sqft ∙ Built 1957
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.65
    •  
  • 5353 N 61st Avenue Glendale, AZ 5
    • 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 1959 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 1959
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.68
    •  
PROPERTY LISTING DETAILS
Ruben Luna
A.z. & Associates
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160169
Last Updated: 11/14/2020
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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