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5750 N 10th Street #3 Phoenix, AZ 85014

3 Beds 3 Baths 1,656 sqft Built 1984

$360,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $217.39
  • 94 Days on Market
  • MLS # : 6159731
  • Updated Date : 02/13/2021 at 17:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,656 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Desert Showcase

Listing Agent's Description

Beautiful move-in-ready townhouse that has been meticulously cared for over the years, located in Uptown Phoenix one of the most desirable corridors in Phoenix. Spinnaker Place is cozy community with only 16 units and a community pool. This 3 bed, 2.5 bath home features: a 2 car garage, gorgeous kitchen complete with appliances, kitchen island w/cook top, lots of counter space and cabinets, formal dining area, family room w/ fireplace and a powder room on the main floor. The unit has lots of charm and great design elements that invite the natural light to compliment the soaring vaulted ceilings and open floor plan along w/ recessed lighting in all the right places. Ceiling fans in all rooms including the master suite that boast a private balcony perfect for those morning coffees as you

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Spinnaker Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $90k271k

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

Neighborhood: Spinnaker Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9341762

* 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 1 Middle School Primary Regular 923 50 7
Madison 1 Middle School Middle Regular 923 50 7
North High School High Regular 2,616 128 5

Madison 1 Middle School

  • Education Level: Primary
  • # of students: 923
  • # of teachers: 50
7
GreatSchools Rating

Madison 1 Middle School

  • Education Level: Middle
  • # of students: 923
  • # of teachers: 50
7
GreatSchools Rating

North High School

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

$324,000$396,000$360,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,250
Property Tax -$259
Property Insurance -$59
HOA -$250
Property Management Fees -$99
CASH FLOW
-$228

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$360,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$4,603

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,929

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,9803$2,1004$2,2005$2,295
$2,295
RENT COMPS ANALYSIS
  • 5750 N 10th Street #3 Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.02
    •  
  • 1530 E Maryland Avenue #17 Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,763 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,763 Sqft ∙ Built 1984
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.12
    •  
  • 5726 N 10th Street #11 Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1980
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.21
    •  
  • 6125 N Central Avenue #11 Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 1965
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.14
    •  
  • 1432 E Mclellan Boulevard Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1996
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.19
    •  
PROPERTY LISTING DETAILS
Victor D Vidales
Re/max Desert Showcase
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159731
Last Updated: 02/13/2021
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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